Events

Roughly two months removed from an initial public stock offering, Michaels CEO Chuck Rubin said the company is on track to implement a multi-year strategic plan following the release of second quarter results that showed broad based sales strength and healthy margins.

Melville, N.Y. - Global Facility Management & Construction has named “J.A.C.K.: Join A Cause for Kids” as the first recipient of its “Global Gives Back” initiative, an annual charitable program designed to give back to the community. Sean and Lauryn Blank presented the donation to the charity’s founder in memory of his son, Jack Perlungher during Global’s recent 10-year anniversary summer event.

Denver -- Luxury vacation club company Inspirato will open five interactive experience centers in high-end shopping centers across the country over the next few months.

Sebring, Fla. -- BV Belk Properties has retained JLL Retail to manage and lease Lakeshore Mall, a 490,000-sq.-ft. retail center located in Sebring, Florida. The mall was built in 1992, and is the only enclosed regional mall within 40 miles of Sebring.
 
“I see nothing but a good future for Lakeshore Mall, and I am thrilled at the opportunity to take a steady center and make it extraordinary for locals and passer-byes with the support of JLL,” said B.V. Belk Jr., owner of BV Belk Properties.

New York -- Aeropostale Inc. on Thursday reported a second-quarter loss that was less than the Wall Street expected. It also forecast a bigger-than-expected loss for the current quarter.
 
Aeropostale, which has lost money for seven consecutive quarters, reported a net loss for the second quarter of fiscal 2014 of $63.8 million, compared to a loss of $33.7 million in the year-ago period.

Charlotte, N.C. -- The Cato Corporation reported that net income rose 6% to $15.7 million for the second quarter ended Aug. 2, from $14.8 million last year.

Sales increased 6% to $243.8 million, from $229.4 million last year. Same-store sales increased 3%.

"Second quarter same-store sales were in line with our year-to-date trend," said John Cato, CEO. "However, we continue to expect the second half earnings per diluted share will be within our original guidance range.”

St. Petersburg, Fla. -- The Sembler Company will introduce the newest additions to its portfolio as the company participates in the International Council of Shopping Centers’ Florida conference Aug. 24-26 in Kissimmee.

As part of a strategic shift back to traditional grocery-anchored shopping centers, Sembler recently inked deals on two Florida centers: North Port Center, Heron Creek, a grocery-anchored neighborhood center in North Port, Sarasota County, Florida; and The Shoppes at Trinity Lakes in Pasco County, Florida.

Houston -- Baker Katz, an X Team International partner, announced that it has completed the lease of a 40,000-sq.-ft. Dave & Buster's in Houston.     

Located in the Baybrook Mall expansion project, this will be the third Dave & Buster's location to open in the Houston area.

New York -- Dollar Tree Inc. reported that net income in the second quarter dipped 2.6% to $121.5 million, from $124.7 million a year earlier, amid higher freight costs and investments in higher-value products.

Revenue rose 9.5% to $2.03 billion, and same-store sales increased 4.5%, beating Wall Street estimates of a 2.5% rise. It was the chain’s26th consecutive quarter of positive comparable store sales growth.