Strategy

Seattle --Nordstrom announced it will open a 42,222-sq.-ft. Nordstrom Rack at Westfield Plaza Bonita shopping center in National City, Calif. The new store will open on Oct. 27.

The new Nordstrom Rack will be the company's third Rack store in the greater San Diego area, joining Westfield Mission Valley in San Diego and Grand Plaza in San Marcos.
 

COLUMBUS, Ohio — Bath and Body Works announced that it has named Nick Coe, formerly president of Lands' End, as its new CEO. The current CEO of Bath and Body Works, Diane Neal, will remain in her role as CEO through summer and then transition into an advisory role with the company from San Francisco. 

Beachwood, Ohio -- Shopping center owner and developer Developers Diversified Realty Corp. said Wednesday it will raze Terrell Plaza shopping center in San Antonio, Texas, and an existing two-story enclosed mall at Tamarac Square in Denver, Colo., to accommodate Target Corp.’s construction of two new stores.

DDR said it intends to redevelop adjacent retail space at both centers.

Framingham, Mass. – Staples reported Wednesday that first-quarter profit rose 5% to $198.2 million, compared with $188.8 million a year earlier. Results were boosted by overseas strength and increased buying by small businesses in North America.

But results were softer than expected, and the company cut its full-year earnings guidance. Its earnings outlook for the second quarter and the year are below Wall Street estimates.

Revenue rose 2% to $6.18 billion, from $6.06 billion a year ago. Same-store sales slipped 1%.

By Ramsey Mansour, [email protected]

New York City -- A.S. Cooper & Sons, one of Bermuda’s signature retailers, continues its recent trend towards modernization and innovation by upgrading its POS retail system. The chain has gone went 'live' with JDA Solutions’ point of sale/retail management system.

FAIRFIELD, Conn. — The Stop & Shop Supermarket Company announced that it has finalized its acquisition of five New Jersey Shore-area Foodtown supermarkets previously owned by Norkus Enterprises Inc. The transaction involves stores in Freehold Township, Manalapan, Neptune City, Point Pleasant Beach and Long Branch. Stop &Shop currently operates 10 stores in Monmouth and Ocean counties.

Washington, D.C. -- The National Retail Federation Wednesday launched a major nationwide 60-day lobbying, grassroots and media campaign aimed at ensuring that a new federal law saving retailers and their customers more than $1 billion a month by lowering “swipe” fees banks charge to process debit-card transactions takes effect in late July as scheduled.