Strategy

Derby, Conn. -- DLC Management Corp. and Hutensky Capital Partners have announced a joint-venture acquisition of Walmart Plaza, a 199,393-sq.-ft. shopping center in Derby, Conn.

Anchored by Walmart, Adams Hometown Market and CVS, the center adds to DLC’s Connecticut holdings of nine shopping centers and 1.4 million sq. ft.
 

Pittsburgh -- Dick's Sporting Goods Inc. reported Tuesday that profit for the quarter ended April 28 surged 53% to $57.2 million, compared with $37.5 million for the year-ago period. The sporting goods retailer raised its earnings outlook for the year.

“For 2012, we are raising our full year guidance as we continue to invest in new stores and our e-commerce business, as well as our margin accelerators including inventory management, private brands, and product mix shift,” said Edward W. Stack, CEO.

MINNEAPOLIS — A new era is emerging at Best Buy as the company tries to come back from the fallout over disgraced former CEO Brian Dunn and re-establish itself is the dominant player in the CE space. To that end, the company's board of directors has elected Hatim Tyabji to succeed Richard Schulze as chairman of the company, effective at the conclusion of the annual meeting on June 21. Tyabji, currently chairman of the audit committee, has served as a director of Best Buy since 1998.

COLUMBUS, Ohio — Big Lots is recognizing Armed Forces Day by offering a special discount for armed forces personnel and their families. On Saturday, May 19, all active, reserve, and retired service members will receive a 10% discount on their qualifying in-store purchases by presenting military identification. The discount can also be applied to sale and clearance items.

Houston -- Discount supermarket operator Aldi announced it is preparing to enter the Houston market with 30 new stores over the next three years. The expansion will begin in spring of 2013, with the opening of more than 10 new locations.

With this expanded Texas footprint, Aldi is expected to bring 400 jobs and an investment of over $100 million of capital expenditures to the local community. The first Aldi stores in Houston will open in the spring of 2013, with more than 10 new locations.

New York -- Kohl’s, Nordstrom and Target  ranked first in their categories in a new survey by Harris Interactive The 2012 Harris Poll EquiTrend (EQ) study surveyed Americans about brands across several retail segments, revealing which brands prompted them to open their hearts—and consequently—their pocketbooks.

Los Angeles -- Lorna Jane, the premier Australian activewear brand for women, will open its second U.S. location, in Marina del Rey, Calif., this month. 

The company’s other U.S. location opened in March 2012, in Malibu, Calif. A third flagship store is scheduled to open in June in Santa Monica, and an online retail store will launch later this year.

Deerfield, Ill. -- Walgreens on Monday launched its national Retail Employees with Disabilities Initiative, an in-store training program designed to help people with disabilities gain retail and customer service skills that works closely with community organizations and vocational rehabilitation agencies to train and develop candidates.

Indianapolis -- Simon Property Group announced that Saks Fifth Avenue Off 5th will open a total of seven new stores in the next two years in its Premium Outlets division, including new centers and existing centers.

Mamaroneck, N.Y. -- Charter Realty & Development said that it has arranged a 2,400-sq.-ft. lease for Smashburger in Mamaroneck, N.Y., within walking distance of the Metro-North train station.

Peter Levine of Charter Realty & Development represents Smashburger in Westchester, Fairfield, New Haven and Hartford Counties.