Development/Redevelopment

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%.

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.

New Albany, Ohio -- Abercrombie & Fitch Co. said Wednesday that overseas strength pushed its net income to $25.1 million for the first quarter, compared with a loss of $11.8 million a year earlier.

As previously reported, revenue rose 22% to $837 million, helped by a 64% surge in international revenue.

Fort Myers, Fla. -- Chico's FAS said Wednesday that profit for the first quarter was $45.9 million, compared with $35.4 million in the year-ago period.

Net sales increased 11.5% to $537.2 million, from $481.6 million in last year's first quarter. Consolidated same-store sales rose 7.7%.

The operator of Chico’s, White House|Black Market and Soma Intimates said it anticipates opening 21 net new stores in the May-June 2011 time frame.

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.
 

Pittsburgh -- Dick's Sporting Goods reported Tuesday that net income for the first quarter rose to $37.5 million, compared with $26.2 million a year earlier.

Net sales increased 6.3% to $1.1 billion. Same-store sales rose 2.1%.

The retailer will open 34 new Dick's Sporting Goods stores in 2011, as well as remodel 14 existing locations. It also plans to open approximately three Golf Galaxy stores and relocate one Golf Galaxy store this year.

New York City -- Centro Properties Group, based in New York City, announced that two DSW stores recently opened in Connecticut; in North Haven, a 24,824-sq.-ft. store opened, and in Manchester, a 20,000-sq.-ft. store opened.

The North Haven store is located at North Haven Crossing, and the Manchester store is located at Slater Street, near Buckland Hills Mall.
 

Auburn, Calif. -- Jacksonville, Fla.-based Regency Centers said it has leased retail space in Auburn, Calif., at Auburn Village to Blue Moon Apparel.

Opening its third women’s apparel location, Blue Moon Apparel has leased 1,400 sq. ft. of space and will open in June.

The 134,000-sq.-ft. shopping center is anchored by Bel Air grocery store alongside national retailers such as CVS/pharmacy, Dollar Tree and Subway.