Events

Sidney, Neb. -- Cabela’s Inc. reported Thursday that net income for the first quarter rose a record 62% to $28.8 million, from $17.8 million last year.

Revenue increased 6.3% to $623.5 million, and same-store sales increased 4.2%.

"This strong performance gives us confidence our growth strategy is working and working well," said Tommy Millner, Cabela's CEO.

Glendale, Calif. -- Glendale Galleria, a 1.5-million-sq.-ft. super-regional shopping center announced the architects who will work on the center's grand renovation project. Glendale Galleria is owned and operated by Chicago-based General Growth Properties.

New York – Dallas-based SRS Real Estate Partners said it has negotiated an 11,825-sq.-ft. lease on behalf of Party City for a new store in the Penn Plaza district of Manhattan.

The store, at 223 West 34th St., is scheduled to open in second quarter 2012. This will be the party goods retailer’s second location in Manhattan.
 

The Minnesota Vikings are in need of a new football stadium and Target’s EVP property development John Griffith sees a proposed downtown Minneapolis location as one element of a larger development and revitalization plan. That’s according to the Minneapolis Star Tribune, which reported this week on Griffith’s involvement in the downtown deal-making and track record at Target. Read the article here.

Following up on last week’s commentary (A dot com disconnect and Canadian e-commerce opportunity revealed), the legislative loophole that has U.S. retailers at a disadvantage to their Canadian counterparts was on display again this week during congressional testimony in Washington, D.C.

New York -- Whether your company is already in the cloud or still on the fence about making the move, retailers can gain additional insight at “Legacy Modernization to the Cloud,” a FREE roundtable luncheon moderated by Chain Store Age. Attendees will learn how to move legacy workloads to the Cloud at a low cost and repurpose the savings on strategic imperatives like loyalty, mobile, and seamless digital connections.

WASHINGTON — The National Retail Federation has named Bill Thorne SVP communications and public affairs. He will join NRF on June 1 to oversee the organization’s industry and public affairs communications strategy, including NRF’s Retail Means Jobs campaign, a multi-million-dollar initiative to demonstrate the power of retail to America’s economy and the career opportunities within the industry. Thorne currently serves as senior director, community affairs at Walmart.  

PALM BEACH, Fla. — The charitable arm of the National Association of Chain Drug Stores has elected three new members to its board of directors.

The board, which now will expand to 23 members for 2012-2013, include Rite Aid's SVP and chief communications officer Susan Henderson; GlaxoSmithKline VP channel development and sales Joseph Kucharski; and Pfizer Worldwide Pharmaceuticals VP corporate government customers David Moules.

WASHINGTON — If NRF's predictions come true, moms will be in for an especially good Mother's Day this year. According to NRF’s 2012 Mother’s Day consumer spending survey conducted by BIGinsight, the average person celebrating the holiday is expected to spend $152.52 on gifts, up from $140.73 last year. Total spending is expected to reach $18.6 billion.

Washington, D.C. -- Survey results released Tuesday by the National Retail Federation said that consumers are expected to stretch their dollars a little further this Mother’s Day to make sure mom has the perfect day.

According to NRF’s 2012 Mother’s Day consumer spending survey conducted by BIGinsight, the average person celebrating the holiday is expected to spend $152.52 on gifts, up from $140.73 last year. Total spending is expected to reach $18.6 billion.