Development/Redevelopment

CITY OF COMMERCE, Calif. — 99 Cents Only Stores reported that its consolidated net income for the first quarter of fiscal 2012 was $17.7 million, or 25 cents per diluted share, compared with $16.8 million, or 24 cents per diluted share, for the prior year.

Englewood, Colo. -- Sports Authority said Tuesday it will open six new stores on Aug. 13.

The new stores will open in five states, and include the major markets of Miami, Los Angeles, Salt Lake City, Chicago and Milwaukee.
 

City of Commerce, Calif. -- Discount retailer 99 Cents Only Stores reported Monday that net income for the quarter ended July 2 rose to $17.7 million, from $16.8 million in the year earlier period.

Total revenue rose 6.3% to $368.3 million, from $346.5 million a year ago. Same-store sales rose 5.9%.

New York City -- In his most recent column “Retail Rap with Jeff Green,” Chain Store Age columnist Green challenges the advent of outlet centers, questioning whether there are enough viable outlet center markets to support the growing number of developers who are plugging into the shopping center format.

Click here to read Green’s column.

It seems like everybody wants to get in the outlet business these days. In particular, there are a growing number of “traditional mall” developers that seem to be seriously considering -- or in some cases, actively pursuing -- the development of outlet centers or the conversion of existing traditional mall assets into outlets. On the heels of Gap’s announcement to close 200 of their full-price stores by 2013 and concentrate on expanding their Gap outlets and Banana Republic Factory Stores, I understand why developers are seriously thinking about outlet centers.

Sydney, Neb. -- Cabela’s announced plans to build a store in Rogers, Ark. The 100,000-sq.-ft. store, Cabela’s first in Arkansas, is scheduled to open in the summer of 2012. The retailer also has also announced plans to build stores in Wichita, Kan., and Tulalip, Wash., as well as Saskatoon, Saskatchewan, Canada, all expected to open in 2012.

New York City -- Safeway is embarking on an extensive renovation project to build or extensively revamp 13 stores in the Bay Area, the Sacramento Bee reported.

The company is moving into three former Mervyn's department stores at shopping centers in Pleasant Hill, Campbell and Petaluma.

To read the story, go to sacbee.com/2011/08/03/3814684/safeway-to-revamp-build-stores.html
 

SYDNEY, Neb.  — Cabela's is marking its entry in Arkansas with plans for a 100,000-sq.-ft. store in Rogers. The store is scheduled to open in the summer of 2012. The retailer also has also announced plans to build stores in Wichita, Kan., and Tulalip, Wash., as well as Saskatoon, Saskatchewan, Canada, all expected to open in 2012.