Strategy

Mooresville, N.C. -- Lowe’s Cos. said Thursday it has acquired ATG Stores, an online retailer of home improvement and lifestyle products based in Kirkland, Wash.

According to Lowe’s, the transaction will add depth and expertise to its online business.

New York City -- A report released Wednesday by the International Council of Shopping Centers found that a last-minute shopping surge gave merchants a solid lift during the final week before Christmas.

According to the ICSC-Goldman Sachs Weekly Chain Store Sales Index, same-store sales rose 0.9% for the week ended Saturday compared with the previous week. That is also up 3.4% from the week before and up 4.5% over the same period a year ago.

Minneapolis -- After a slew of online orders were cancelled in November and December when Best Buy couldn’t keep up with demand, the company issued the following statement on Tuesday:

“What was wrong is that there was an unacceptable delay between order confirmations and cancellations, and for that we are very sorry,” said Susan Busch, senior director of Best Buy’s public relations. “It’s important to note that this was a rare situation based on a high volume of orders over a short period of time.”

Paris -- A Tuesday report by the Wall Street Journal said that French retailer Carrefour SA has sold 97 supermarket sites to an investment company for $477 million.

Carrefour, the world’s second-largest retailer after Wal-Mart Stores, will continue to operate the sites through 12-year leases under its Carrefour Markets banner. The company said the sales and lease-backs will allow it to optimize the use of its capital, which will be reinvested into other real estate.

Cherry Hill, N.J. -- Philadelphia-based Pennsylvania Real Estate Investment Trust said that fashion brand Bijoux Terner has opened a new store at Cherry Hill Mall, located in Cherry Hill, N.J.

The 767-sq.-ft. value-priced accessories store is an expansion of an in-store presence at Italian Treasures, located at PREIT’s Voorhees Town Center property, in Voorhees, N.J.
 

Lompoc, Calif. -- Brixmor Property Group announced a 24,050-sq.-ft. lease has been executed with Marshalls at Lompoc Shopping Center, located in Lompoc, Calif. 

Marshalls will join other national retailers including Vons, Michael’s, Pier 1, Petco and Staples. 

Brixmor, based in New York City, is the owner of Lompoc Shopping Center.

Philadelphia -- Forever 21 recently relocated and expanded to a two-story location in the newly developed wing at Willow Grove Park, located in eastern Montgomery County just north of Philadelphia. The mall is owned and operated by Pennsylvania Real Estate Investment Trust.

Boca Raton, Fla. -- Indianapolis-based Simon Property Group said that Brian Nelson has been named general manager of Town Center at Boca Raton, located in Boca Raton, Fla.

Nelson will be responsible for mall operations, tenant relations, leasing, marketing, business development, security and customer service.

Nelson was previously the Indianapolis-based area manager for Greenwood Park Mall, Washington Square Mall and four community centers operated by Simon Property Group.

He has been with Simon Property Group since 2000.

Hoffman Estates, Ill. -- Sears Holdings Corp. said Tuesday that it will close between 100 and 120 underperforming Sears and Kmart stores, following dismal holiday sales results for the brands.

The company said it has not yet identified which stores will be shuttered, but said that the closures are part of an overall plan to shift its focus from shoring up underperformers to concentrating its efforts on stronger stores.

Bellport, N.Y. -- Perfume and fragrance retailer Perfumania Holdings Inc. announced Friday that it will acquire Parlux Fragrances Inc. in a deal valued at $170 million.

Parlux, based in Ft. Lauderdale, Fla., manufactures and distributes fragrances and beauty products, and is one of Perfumania's largest trading partners.

"Parlux brings a wealth of products and expertise as a licensee, manufacturer and international distributor," said Mike Katz, CEO, Perfumania.