Development/Redevelopment

WAYNE, N.J. — Toys"R"Us continues on its path to bring its Toys"R"Us and Babies"R"Us stores under one roof as part of its integrated store strategy. The company announced that by the end of the year it will have opened eight new stores and transformed 13 existing locations to the side-by-side model in 2012. In adding eight new stores and renovating 13 existing locations, the company will create more than 400 new jobs across the country.

Hong Kong -- A Tuesday report by Bloomberg said that J. Crew will open its first Asia store – in Hong Kong – as early as 2013. CEO Millard “Mickey” Drexler told the news service that the retailer is also seeking sites in Beijing and Shanghai.

“We feel that we’re ready to go international,” said Drexler. “Going international is a strong learning curve and it could distract us from building our business in the United States, but we feel that the time is right now.”

SUNBURY, Pa. — Weis Markets reported that it's net income increased 12.7% to $23.2 million in net income while its earnings per share increased 11.7% to 86 cents per share, compared with 77 cents per share for the same period in 2011. Second quarter operating income increased 11.4% to $35.3 million.

Second quarter sales increased 0.1% to $677.1 million while comparable-store sales increased 0.4%.

Wayne, N.J. -- Toys “R” Us on Tuesday said that by the end of 2012 it will have opened eight new stores and remodeled 13 existing locations to the side-by-side Toys “R” Us/Babies “R” Us model.

The retailer said the 21 stores across 13 states are representative of its strategy to bring both concepts together in an integrated store format.

El Paso, Texas -- Best Buy Co. has signed a lease to open a 37,740-sq.-ft. store at The Fountains at Farah, a new power-lifestyle shopping center located in El Paso, Texas.

The shopping center, a Centergy Retail project, is under construction and planned to open in 600,000 sq. ft. in fall 2013.
 

San Diego -- Walmart has completed its 100th solar installation in California, at a store on College Avenue in San Diego. After launching its solar pilot program in May 2007, Walmart strengthened its commitment to renewable energy in the state of California last year when it announced plans to expand its solar portfolio to more than 75% of its stores in California, approximately 130 stores, by the end of 2013. There are now 100 Walmart stores and Sam's Clubs in California using traditional and thin film solar installations.

Bloomfield Hills, Mich.-based Taubman Centers, Inc. has officially broken ground on its new Taubman Prestige Outlets Chesterfield project by hosting a groundbreaking ceremony on July 27.

As part of the ceremony, Taubman revealed a variety of store names that will make their debuts at the new outlet mall, among them Banana Republic Factory Store, Gap Outlet, J. Crew Factory, Brooks Brothers Factory Store, 2b Bebe, American Eagle Outfitters - Off Campus, and Sunglass Hut.

Roswell, Ga. -- PGA Tour Superstore announced plans to open a location in Paramus, N.J. The store, scheduled to open later this year, is PGA Tour’s 15th location.

The PGA superstores are owned and operated by Golf & Tennis Pro Shop, whose controlling owner and chairman is Arthur M. Blank, retired Home Depot co-founder and owner of the Atlanta Falcons.