Development/Redevelopment

MINNEAPOLIS -- Best Buy said that it plans to open hundreds of wireless device stores, as well as expand online and in China in an effort to be more competitive as consumers up their online shopping. The chain is also scaling back the size of its signature namesake format. 

In an analyst conference Thursday, the retailer unveiled plans to shrink square footage at big-box stores by 10% over the next three to five years, a move that Best Buy said will eventually save $70 million to $80 million annually.

COMMERCE, Calif.  -- Even with an extra week in this year's reporting period, 99 Cents Only Stores reported a total sales increase for it fiscal fourth quarter. The company reported total sales of $378.5 million for the 14-week fourth quarter of fiscal 2011 ended April 2, 2011, compared with $339.3 million for the 13-week fourth quarter in the prior fiscal year. 

The company reported a same-store sales increase of 0.5% for the quarter. Excluding Texas operations, comps were up 0.7%.

Salisbury, N.C. -- Bottom Dollar, a division of Delhaize American, has entered the Philadelphia market, opening a 17,000 sq.-ft. store.

“While we have opened 18 stores in the greater metropolitan area, this is our first store in the heart of Philadelphia, and we are truly ecstatic,” said Meg Ham, president, Bottom Dollar Food, said in a statement.

Minneapolis -- Best Buy Co. said Thursday that it plans to open hundreds of wireless device stores, as well as expand online and in China in an effort to be more competitive as consumers up their online shopping. The chain is also scaling back the size of its signature namesake format. 

In an analyst conference Thursday, the retailer unveiled plans to shrink square footage at big-box stores by 10% over the next three to five years, a move that Best Buy said will eventually save $70 million to $80 million annually.

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Kokomo Ind. -- The Bon-Ton Stores said Thursday that it has signed a letter of intent with Simon Property Group for a 60,000-sq.-ft. facility at Markland Mall, located in Kokomo, Ind.

According to the department store retailer, the existing building will be remodeled by November, at which time Bon-Ton will open a new store under the Carson’s nameplate, replacing its current Elder-Beerman store presently located in Kokomo Mall.

Burbank, Calif. -- Ikea on Wednesday went live with the solar energy system installed at its store in Burbank, Calif. The 35,000-sq.-ft. array consists of a 290-kW system, built with approximately 1,260 panels. 

The installation will produce approximately 421,300 kWh of electricity annually, the equivalent of reducing at least 334 tons of carbon dioxide (CO2). The initiative will contribute to the local utility’s renewable portfolio goals and will lower the carbon intensity of the electrical grid.