Development/Redevelopment

City of Commerce, Calif. -- Discounter 99 Cents Only Stores reported Wednesday that profit for the second quarter rose 17% to $15.1 million, compared with $12.9 million a year earlier.

Revenue rose 8.8% to $363 million, beating analysts’ expected $357.3 million. Same-store sales increased 6.7%.

CINCINNATI — Macy's Inc. reported that earnings were 32 cents per diluted share for the third quarter of 2011, ended Oct. 29, compared with earnings of 2 cents per diluted share in last year's third quarter, or 8 cents per diluted share in last year's third quarter excluding expenses of 6 cents per share associated with the repurchase of debt.

New York City -- A report released Wednesday by the Real Estate Board of New York found that New York City’s retail market is continuing to perform well in its traditionally strong retail corridors and primarily residential neighborhoods.

Ontario, Calif. -- Last Call by Neiman Marcus will open a first-to-market store in May 2012 at Ontario Mills, a Simon-owned property that is the largest outlet and value retail shopping destination in California with more than 200 stores.

Taking over an existing retail space can be a good move, as long as you have all the facts from the get-go, especially with regard to the floor. Lee Eliseian, president of Independent Floor Testing & Inspection, offers the following tips to prevent flooring issues from arising:

Cincinnati -- Macy's net income surged in the third quarter amid strong sales. The retailer on Wednesday also raised its full-year profit outlook and announced plans to build two new stores in New York and one in California.

Macy's earned $139 million for the three months ended Oct. 29, up from $10 million, in the same period last year. Revenue increased 4.1% to $5.85 billion. Same-store sales rose 4%.

Buffalo, N.Y. -- New Era announced it will open its 10th flagship, in the heart of downtown Chicago. The two-level, 4,500-sq.-ft. store, New Era's largest location to date, will sell licensed and New Era branded headwear, apparel and accessories for men, women and kids. The brand is best known for being the official on-field cap for Major League Baseball.

New York City -- Target Corp. is building a distribution center in Denton, Texas, the Dallas Business Journal reported.

The 360,000-sq.-ft. center is expected to open in March 2013.
 

Seattle -- Nordstrom Rack announced plans to open a store in San Diego. It will be the brand’s fourth location in San Diego.

The approximately 39,000-sq.-ft. store is scheduled to open during fall 2012 at Carmel Mountain Plaza. Carmel Mountain Plaza is owned and managed by American Assets Trust.

 

Canton, Mass. -- Dunkin' Donuts announced the signing of a multi-unit store development agreement with father and son team, Jim and Drew Cownie for 12 new restaurants in Des Moines, Iowa.

The first restaurant is slated to open in 2012 and the remainder by 2018.