Development/Redevelopment

Jackson, Miss. – As part of a larger plan to open 30 new corporate and franchised stores by the end of 2015 and 200 new stores by 2018, Newk's Eatery has entered a new development agreement with New Orleans-based Southeast Restaurant Group (SRG). The veteran operator of franchise and independent restaurants plans to open 15 Newk's locations throughout Southern Louisiana and in Houston.

Five Below is accelerating its expansion plans with the opening of three new stores in Kansas City this week.

"Entering the Kansas City metro area and opening our first store in Kansas, our 24th state, is very exciting as we continue to grow our footprint across the country," said Joel Anderson, CEO of Five Below. "We're thrilled to develop new relationships with customers in this dynamic market. Kids and parents looking for a fun place to shop for trend-right, high quality products at a great value will surely enjoy Five Below."

Greensboro, N.C. -- Tanger Factory Outlets is enhancing the grand opening events of its new centers with social media.  The company is blending the traditional shopping experience with the excitement of social interaction though three social media activations, or pop-ups.

Cincinnati -- Bad weather, decreased spending by international tourists  due to the strong U.S. dollar and delayed merchandise shipments from the West Coast port slowdown all contributed to Macy’s missing Wall Street projections for profit and revenue in the first quarter of fiscal 2015. Net income fell 13% to $193 million, from $224 million in the same quarter a year earlier.

Net sales dropped about 1% to $6.23 million, from $6.28 million. Same-store sales declined 0.7%.

New York — The Brooklyn Navy Yard Development Corp. on Tuesday announced redevelopment plans for Admirals Row that will bring a long-anticipated supermarket, new manufacturing space and a brand new community facility to the site. Wegmans Food Markets will anchor the $140 million redevelopment of Admirals Row led by Steiner NYC, the developer of Steiner Studios.
 

On the heels of Walmart's decision to acquire 13 Target locations in Canada comes an announcement from Lowe's, which has also decided to acquire 13 Target Canada leases as well as distribution center in Ontario.

The deal is worth about $125 million.

The brick-and-mortar shopping experience is getting a social makeover at Tanger Factory Outlet Centers.

This year Tanger will open four new shopping centers across the country. During each of these grand opening weekends, Tanger will be merging the traditional shopping experience with the excitement of social interaction though three social media activations.

Cult favorite grocery chain Wegman's is coming to New York City, with plasn to build a massive store in Brooklyn.

New York -- While most retailers are shrinking their footprints, Nebraska Furniture Mart (NFM) is doing just the opposite, opening the nation’s largest home furnishings store. Located in the new 433-acre Grandscape mixed-use development in The Colony, Texas, the two-level store has a whopping 560,000 sq, ft. of selling space (equivalent to about nine football fields). Including its on-site warehouse, the space totals more than 1.8 million sq. ft.

New York -- Boscov’s Department Store believes in keeping it in the family. Albert Boscov, 85, has resigned as CEO of the company, and been succeeded by his nephew, Jim Boscov. The new chief, who will continue to serve as vice chairman, is the third generation of the family to lead the privately held business which was founded more than 100 years ago.