Strategy

Rio de Janeiro, Brazil -- Indianapolis-based Simon Property Group and Latin American retail real estate company BR Malls Participacoes S.A. announced Tuesday that they signed a 50/50 joint venture agreement to develop and own outlet centers in Brazil.

The first outlet center of the joint venture is slated to open in Sao Paulo in 2013.
 

New York -- Uniqlo announced that it will open a 29,000-sq.-ft. flagship in San Francisco, in the fall of 2012. The store, which will be located at 111 Powell Street, close to the Union Square shopping district, marks the brands’ first location outside of New York and will act as the epicenter for expansion along the West Coast.

CONSHOHOCKEN, Pa. — Ikea, in partnership with American Forests, has planted 2 million trees across America through its Plant A Tree program.

Ikea launced the national in-store ‘Plant A Tree’ program in 1998 and since that time has raised $2 million through customer contributions and its own donations to plant the trees. During the month of April, Ikea Family ‘loyalty’ card member usage will also support Ikea in its donations to plant more trees through American Forests.

Matthews, N.C. -- Family Dollar Stores has named Jon Broz to the position of VP and assistant general counsel, litigation.

Broz comes to Family Dollar from Lowe’s Cos.
 

GREENVILLE, S.C. — Bi-Lo noted last week that three of its locations along the South Carolina coastline had been refreshed in March.

“Bi-Lo believes in offering our customers the highest possible standards and this remodel program speaks directly to that,” stated Bi-Lo president Michael Byars.

The enhanced departments in the updated stores feature improved freshness, variety and quality, including:

CONSHOHOCKEN, Pa. — Ikea, in partnership with American Forests, has planted 2 million trees across America through its Plant A Tree program.

Ikea launced the national in-store ‘Plant A Tree’ program in 1998 and since that time has raised $2 million through customer contributions and its own donations to plant the trees. During the month of April, Ikea Family ‘loyalty’ card member usage will also support Ikea in its donations to plant more trees through American Forests.

New York -- The average vacancy rate at strip malls across the United States edged down for the first time in nearly seven years in the first quarter, falling to 10.9% from 11% in the prior quarter, according to preliminary data by real-estate research company Reis Inc., Reuters reported. It was the first decline in nearly seven years.

But the firm warned consumer spending is still not strong enough to lift retail real estate out of its slump.

New York -- Japanese apparel retailer Uniqlo will open its first store on the West Coast, in a 29,000-sq.-ft. space in San Francisco, this fall, the Wall Street Journal reported.

Uniqlo is also looking for locations in Los Angeles and other California cities, according to the report. To date, the company has opened three U.S. stores, all in New York City.