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  • Discount giant adds another massive ‘Pickup Tower’

    Walmart’s self-service kiosks that cater to online order in-store pickups have hit Nevada.   The discount giant has added a 16-ft. “Pickup Tower” at its Las Vegas Walmart Supercenter. The tower is the first machine to be installed on the West Coast, according to Las Vegas Review-Journal.  

  • Forecast: Holiday sales to be impacted by ‘lackluster’ wage growth

    One of the first holiday quarter sales forecasts is out of the gate.   Global retail consulting firm Kantar Retail predicts that U.S. retail sales will grow 3.7% in the fourth quarter of this year. The forecast represents an improvement relative to weak growth of only 2.9% in the year ago period. But it is underwhelming compared to average growth prior to the recession of 5.0%, according to Kantar.   

  • Howard Hughes CEO re-ups for 10 years

    David Weinreb, who took The Howard Hughes Corporation public, will now take the company well into the next decade.   The Dallas-based company announced it has entered into a new employment agreement with Weinreb that runs through 2027. As part of the deal, Weinreb completed the acquisition of nearly two million stock warrants in the company at a cost of $50 million.  

  • PREIT sells Altoona mall for $33 million

    PREIT, which has long been pursuing a strategy of unloading underperforming malls from its portfolio, announced it has sold the Logan Valley Mall for $33.2 million net of credits issued to the buyer. The new owner’s identity was not released.   The Altoona, Pennsylvania, mall -- anchored by Macy's, J.C. Penney and Sears -- had been turning in sales-per-square-foot of $324 versus an average of $475 for the rest of the PREIT portfolio.  

  • One Kings Lane puts down physical roots

    Online home furnishings and decor retailer One Kings Lane is making its temporary foray into brick-and-mortar retail more permanent.   The retailer opened its first-ever physical location, a seasonal pop-up in the posh resort town of Southampton, New York, at the beginning of summer. But the company said the response to the temporary store was so positive that it has decided to make it a permanent space.  

  • Kroger Q2 profit falls on price cuts as same-store sales rise

    Aggressive price cuts took a toll on the nation's largest grocery store operator in its second quarter.    Kroger Co.'s net income fell to $353 million, or 39 cents per share, in the quarter ended Aug. 12, from $383 million, or 40 cents per share, in the year-ago period. Its results were in line with the Street estimates. Gross margins fell by 30 basis points.  

  • Value retailer posts strong Q2 sales

    99 Cents Only Stores reduced its loss in the second quarter amid increased operational efficiencies and surging sales.   The retailer reported a net loss of $33.6 million for the quarter ended July 28, compared to net loss of $35.1 million in the year-ago period. Net sales increased 8.9% to $540.5 million.  

  • Sales slide continues at Barnes & Noble

    Barnes & Noble reduced its loss in its first quarter due to cost savings even as its sales continued to fall.   The company reported a net loss of $10.8 million for the quarter ended July 29, or 15 cents per share, compared to a loss of $14.4 million, or cents per share, for the year-ago period. Analysts had expected a loss of 12 cents a share.   
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