Corporate Governance

Matthews, N.C. – Higher sales of discounted, low-margin items did not necessarily add up to a happy holiday season for Family Dollar Stores Inc. The company missed Wall Street expectations for both net income and net sales during the first quarter of fiscal 2015, even as Dollar Tree and Family Dollar both continue making preparations for a multi-billion-dollar takeover this year.

Momentum from Black Friday weekend continued through the holidays for Pier 1 Imports Inc.

The home furnishings retailer, which reported a disappointing third quarter in early November, reported an 8.2% increase in December same store sales. CEO Alex Smith said while sales in the third quarter were soft, November sales were strong versus a year ago, particularly over Thanksgiving weekend.

This is the age of the empowered consumer. Energized by the rapidly accelerating global growth of mobile devices, shoppers now have immediate access to data on products, prices and competitive services. In addition to shifting the balance of power away from retailers and manufacturers, the spread of information and the growth of technologically sophisticated pure-play retailers have contributed to rapidly rising expectations about just how personalized and participatory the shopping experience can be.

By Dave Weinberger, CBX

Have you read any 2015 retail trend forecasts lately? Let’s face it, many so-called trends for the year ahead — the need to focus on things like mobile payment, customization, foodservice, smaller formats or millennial shoppers, to name a few — are at this point just the cost of doing business.

It was a happy holiday from a sales standpoint at Steinmart with the company reporting a 5.8 percent same store sales increase for December.

The 5.8 percent comp increase for the December period ended Jan. 3 follows a 4.8 percent gain in November and a 4.5 percent increase during the prior December.

Michael Romanko was named Executive Vice President of Merchandising at discount retailer Five Below, reporting to President Joel Anderson.

Yonkers, N.Y. -- Tom Rettaliata of Ripco Real Estate leased 13,840 sq. ft. to Darden Concepts in the Cross County Shopping Center located at 8000 Mall Walk in Yonkers, New York.

The area previously used for parking is now occupied by two freestanding restaurants: Olive Garden (7,448 sq. ft.) and Longhorn Steakhouse (6,392 sq. ft.). Olive Garden opened on October 27, 2014, and Longhorn Steakhouse opened on November 17, 2014.

The landlord, Brooks Shopping Center LLC, was represented by Guy Mercurio of Macerich.

Nashville, Tenn. --H.G. Hill Realty Company announced a lineup of tenants at Hill Center Acklen, the Nashville mixed-use development that includes approximately 13,000 sq. ft. of street-level restaurant and retail located at 21st Avenue South and Acklen Avenue in Hillsboro Village.