Strategy

Harrisburg, Pa. -- Philadelphia-based Pennsylvania Real Estate Investment Trust said that DSW will open a 17,400-sq.-ft. store at Capital City Mall in Camp Hill, Pa.

To accommodate the footwear and accessories retailer, PREIT said that 5,000 sq. ft. of retail space is being added to the mall. A 2013 opening for DSW is anticipated.

Minot, N.D. -- Chattanooga, Tenn.-based CBL & Associates Properties announced it has acquired Dakota Square Mall in Minot, N.D.

CBL acquired the property from the Lightstone Group.

Woodbridge, Va. -- Indianapolis-based The Mills, a Simon Property Group company, said that Potomac Mills, the largest outlet and value retail shopping destination in Virginia, will soon expand its footprint with the addition of an exterior transformation and two new restaurants: The Cheesecake Factory and Bobby’s Burger Palace.

The project also includes the relocation of Saks Fifth Avenue Off 5th and the introduction of Buybuy Baby and Christmas Tree Shops.

Lake Success, N.Y. -- Excess Space Retail Services said it is celebrating its 20-year anniversary this year. The real estate consulting and advisory firm, which specializes in surplus real estate disposition and lease restructuring for retailers, was founded by president and CEO Michael Wiener in May 1992 and currently has offices in Lake Success, N.Y., and Huntington Beach, Calif.

Highlights of its 20 years in the industry include more than 16,000 retail stores successfully disposed and more than 7,000 retail leases effectively restructured.

Washington, D.C. -- Combined Properties said that Randy Kenna has joined the company as senior director of development & acquisitions. 

He will be leading the acquisition of new value-add/redevelopment retail and mixed-use projects while also redeveloping portions of Combined's portfolio of retail centers in the region.
 

BENTONVILLE, Ark. -- First quarter profits at Walmart exceeded analysts’ estimates as same-store sales increased 2.6% and the company said it strategy of low prices on a broad merchandise assortment is resonating again with shoppers.

ST. LOUIS — Supervalu is bringing its Save-A-Lot banner to Atlantic City, N.J.

The store, which opened Thursday, will become the first full-service grocery store within a 21-mile radius of the city, the company said. The Atlantic City location is the 11th Save-A-Lot store in New Jersey.

CAMDEN, N.J. — Campbell's has tapped Walgreens' social media director to lead the soup maker's digital marketing and social media efforts.

Pleasanton, Calif. -- Ross Stores reported Thursday that net income for the first quarter surged 21% to $208.6 million, from $173 million in the same period last year.

Sales increased 14% to $2.4 billion, and same-store sales rose 9%.

“We believe that favorable weather across many of our markets also contributed to our above-plan performance," said Michael Balmuth, CEO, about the results.

HOFFMANESTATES, Ill. — Sears Holdings posted net income of $189 million in the quarter, compared with a loss of $165 million in the prior-year period.

After several rounds of closings of Kmart and Sears full-line stores in the past months, revenues decreased $270 million to $9.3 billion for the quarter ended April 28. Domestic comp-store sales declined 1.3% -- 1.0% at Sears Domestic and 1.6% at Kmart. Sears also saw declines in its home appliances and consumer electronics categories.