Strategy

It’s been one extreme or another the past few weeks in the retail world. First, luxury retailers Tiffany and Saks reported strong sales and profits and then on Tuesday Dollar General results showed the low-end consumers have some spending power and a taste for its brand of discount retail.

NEW YORK — Barnes & Noble reported that total sales for the first quarter were $1.4 billion, a 2% increase compared with the prior year. Sales through BN.com increased 37% as compared with the prior year to $198 million, with comparable sales increasing 65%. This increase was driven by strong demand for the Nook product line, including the continued success of the Nook Color, the mid-quarter launch of the Nook Simple Touch Reader and a quadrupling of digital content sales over last year’s first quarter.

NEW YORK — Japanese fast-fashion giant Uniqlo is set to open its largest global flagship to date, an 89,000-sq.-ft. store on Fifth Avenue in Manhattan. The store, which will also be the larger single retailer on Fifth Avenue, will open on Oct. 14.

One week later, Uniqlo will debut a second flagship in Manhattan, a 64,000-sq.-ft. store 34th St. It will be the chain’s second largest global flagship

Lowe's has announced a restructuring in both in-store operations and merchandising organizations that will thin the ranks of its management and consolidate both its regions and divisions.

Lowe's merchants have been reorganized into two product divisions, each led by a senior VP/general merchandising manager. Both will report to executive VP merchandising Robert Gfeller Jr. 

Troy Dally, previously SVP/GMM hardlines/building products, will lead the new building and outdoor products division.

Goodlettsville, Tenn. -- Dollar General Corp. reported Tuesday that its second-quarter net income rose 3.5% to $146 million from $141.2 million in the year-ago period. Sales increased 11% to $3.58 billion; same-store sales rose 5.9%. Its results beat expectations. 

The company also raised its full-year outlook.

Washington, D.C. -- A report released Tuesday by the Conference Board said that confidence among U.S. consumers sunk to a two-year low in August, as Americans faced continued unemployment woes and worsening business and economic conditions.

The Conference Board’s index plunged to 44.5, the weakest since April 2009 and the biggest point drop since October 2008. Economists predicted the August gauge would fall to 52, according to the median forecast in a Bloomberg News survey.

New York City -- A bankruptcy judge gave Books-A-Million the nod Monday to take over the leases of 14 Borders Group stores for just under $1 million.

The stores are located mostly on the East Coast, and Books-A-Million is expected to take over the leases effective Sept. 20.
 

Cincinnati -- Kroger Co. will hold a moment of silence of September 11, 2011, in its 2,449 stores nationwide. Stores located in the Eastern Time zone will pause for a moment of silence to remember the victims and honor the heroes of the 9/11 tragedy at 8:46 a.m., the time when American Airlines Flight 11 struck the World Trade Center's north tower ten years ago.

Because of the time difference, Kroger's stores in Central, Mountain and Western Time zones will pause for a moment at a locally-designated time on Sunday morning.

Phoenix -- Cole Real Estate Investments said Monday that it has acquired a portfolio of 11 PetSmart retail properties for $74 million.

The approximately 300,000-sq.-ft. triple-net leased portfolio is located in primary markets in California, Florida, Illinois, Maryland, Massachusetts, Michigan and Texas. The 11 individual retail properties are leased to PetSmart, under one master lease, with an original 20-year lease term and approximately 10 years remaining, plus three automatic renewals for up to a total of 20 additional years.

Dallas -- Cypress Equities said that Freebirds World Burrito has signed a lease to occupy a portion of a new development in Fort Worth, Texas, adjacent to the company’s West 7th development.

The 2,370-sq.-ft. restaurant will mark the third Freebirds in Fort Worth, with other locations near Hulen Mall and at Alliance Town Center. Freebirds World Burrito is owned by Tavistock Restaurants and has more than 50 locations throughout Texas, California and Oklahoma.