Development/Redevelopment

Warrendale, Pa. -- Rue21 Inc. reported Wednesday that its third-quarter profit surged 22% to $8.7 million, from $7.1 million a year earlier, as the apparel retailer opened dozens of new stores during the period.

Revenue climbed 19% to $194.8 million, but missed Wall Street’s expected $197.3 million in revenue. The company opened 30 stores during the quarter and expanded eight into its "Rue21 etc!" format.
 

Everett, Wash. -- Zumiez Inc. reported Thursday that net income for the quarter ended Oct. 29 rose 14.8% to $14.1 million, from $12.3 million in the prior fiscal year.

Revenue climbed 13.3% to $154 million from $135.9 million, and same-store sales grew 6%.

“We are pleased with the current pace of growth for our business and believe our product assortment has us well positioned for the remainder of the holiday selling period," said Rick Brooks, CEO.

Bensalem, Pa. -- Charming Shoppes reported Thursday that its loss in the 3Q narrowed to $13 million from a loss of $18.8 million a year earlier. Revenue in the quarter dropped to $429.7 million, from $463.6 million last year, and same-store sales decreased 4%.

The retailer said it is conducting a strategic review of its operations, which includes the divestiture of its Fashion Bug business and the expansion of its Lane Bryant brand.

New York City -- Modell’s Sporting Goods announced it will open a 16,460 sq. ft. store in Oceanside, N.Y., on Dec. 2. It will be the retailer’s 61st location in New York.

Modell’s operates 148 stores located in New York, New Jersey, Pennsylvania, Connecticut, Rhode Island, Massachusetts, New Hampshire, Delaware, Maryland, Virginia and Washington, D.C.
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Kendall Lakes, Fla. -- Jacksonville, Fla.-based Regency Centers said that two new merchants have leased space at its Shoppes @ 104 shopping center, in Kendall Lakes, Fla.

Yogurtini has leased 1,400 sq. ft. of retail space, and Great Clips has leased 1,344 sq. ft. The 108,192-sq.-ft. shopping center is anchored by Winn-Dixie, alongside national retailers such as The UPS Store, Subway and GNC.
 

Chestnut Hill, Mass. -- WS Development announced that chocolatier Lindt has increased its outlet presence by adding a seventh temporary store this holiday season at a WS shopping center. The Swiss chocolate manufacturer and retailer began its relationship with WS in the spring with temporary stores at six WS Development locations in Massachusetts, New Hampshire and Connecticut. Lindt opened its seventh Lindt Factory Outlet within the WS Development portfolio last month at The Crossing at Smithfield. All seven stores will remain in place through the holidays.

Philadelphia -- Simon Property Group announced Tuesday plans to unify the two main shopping venues of King of Prussia Mall, in King of Prussia, Pa., expanding one of America's most productive and iconic retail destinations.

Irvine, Calif. -- Steadfast Cos. said that Richard Gann has been hired as chief marketing officer for Steadfast Capital Markets Group, the company’s securities and financial services division.

In the newly created role, Gann will oversee strategic marketing functions to assist in the overall positioning and growth of the Steadfast Income REIT, the company’s $1.65 billion public, non-traded real estate investment trust, as well as future alternative investment programs.
 

Washington, D.C. -- Douglas Development Corp. announced that Joe Ruzecki has joined the real estate company as the new director of leasing.

Most recently, Ruzecki served as senior VP with CB Richard Ellis in Baltimore.
 

Sunnyvale, Calif. -- Jacksonville, Fla.-based Regency Centers said that Indian Bazaar has leased 4,480 sq. ft. at Loehmann’s Plaza in Sunnyvale, Calif.

The new grocery store is slated to open in May 2012.

The 113,309-sq.-ft. shopping center is anchored by CVS/pharmacy alongside national retailers including Safeway, Nail Time and Starbucks.