Development/Redevelopment

New York – Increases in selling, general and administrative (SG&A) expenses and interest expenses helped increase net loss at New York & Co. to $4.7 million in the first quarter of fiscal 2015 from $300,000 the same period a year earlier. The growing loss occurred as sales improved 2% to $223.4 million from $219.6 million, and same-store sales rose 1.8%.

Just days after announcing that it would be opening several "pick-up points" across Canada, Ikea says it plans to open a massive distribution center in Ontario in October.

Tampa, Fla. -- Ashley Furniture Industries announced that it is establishing, through its wholly owned subsidiary, Ashcomm LLC, its U.S. e-commerce headquarters in Ybor City.

The headquarters office will occupy 70,000 sq. ft. of space in Centro Ybor in the heart of Tampa’s historic business and entertainment district. It will eventually house more than 100 employees in executive, administrative, marketing, design, and information technology positions for both the e-commerce business as well as other Ashley corporate operations.
 

Mississauga, Canada – Ikea plans to open a 397,000-sq.-ft. distribution center in Mississauga Ontario in October. The new facility will fulfil customer orders from the four existing Toronto-area stores and e-commerce purchases, as well as support growth plans for Ikea Canada to meet customers in new and existing markets.

The location will bring Ikea closer to the customer, which the retailer hopes will allow for an improved logistical setup enabling an increased range offer and shorter lead-times while contributing to sustainability goals.

Astoria, N.Y. – Bareburger has signed up to use Buxton's Scout platform to identify the best market opportunities for growth in the U.S. and Canada. Buxton's custom analytic solutions will allow Bareburger to quantify growth potential and select the best sites for new locations.

Kirkland’s Inc. says it is still on track to open as many as 40 new stores in 2015 after reporting solid financial results in its latest quarter.

The company’s net income increased 23% to $2.53 million, from $2.05 million a year earlier. Growth in cost of sales and operating expenses lagged the rate of revenue growth, boosting net income. Net sales rose 9% to $118.31 million, from $108.25 million. Same store sales, including e-commerce sales, grew 3%.

Stein Mart is not only growing its footprint but the off-price retailer is also growing same store sales as well.

Same-store sales rose 4.8% in the first quarter ended May 2. Net income fell 3% to $13.6 million from $14.1 million a year earlier, with higher loan interest expense a major contributor. Net sales increased 7% to $353.5 million, from $328.9 million.

New York -- Swedish fast-fashion giant Hennes & Maurtiz AB (H&M) on Wednesday unwrapped its largest store in the world, in New York City’s Herald Square. The 63,000-sq.- store, which is located across from Macy’s, has a custom illuminated store front that wraps around 33rd Street, 34th Street and 6th Avenue. It is the retailer’s 13th store in New York City.

Seattle -- Nordstrom plans to further expand its San Diego County presence with the addition of a Nordstrom Rack at The Shops at La Jolla Village in La Jolla, California.

The approximately 32,000-sq.-ft. store is scheduled to open in fall 2016. The property is owned by Alecta Real Estate USA, LLC. When it opens, it will be the fifth Nordstrom Rack in the San Diego area and about one mile west of Nordstrom at University Towne Centre.

Shanghai -- Disney Store has opened its first store — and largest store to date — in Shanghai, China. With 9,257 sq. ft. of shopping space, the flagship also features an outdoor plaza.

The store has numerous design features unique to Shanghai, which include:

• A Disney Magic Kingdom Castle, measuring 19 ft. high at the heart of the store, featuring an hourly musical and projection show;