Development/Redevelopment

New York City -- J. Crew Group reported Monday that profit for the quarter ended Jan. 28 rose to $15.1 million, from $4 million in the same period last year. Revenues surged 13% to $531 million, and same-store sales rose 6%.

For the full year, the retailer reported a profit decline to $51.5 million, from $121.5 million in 2010. Annual revenues rose 8% to $1.9 billion, and same-store sales increased 7%.

It doesn’t really surprise me anymore when I hear about another national brand rolling out a smaller store format or compact new prototype. Recognizable names like Target, Walmart and Best Buy have all had some success with smaller formats, particularly when it comes to penetrating new markets. But I think the fact that Kohl’s has now joined the crowd is a little bit different — and a little bit more interesting.

San Diego -- PriceSmart announced that it has purchased land on which it will build a PriceSmart Warehouse Club in North Cali, Colombia. It would be the company’s third store in Colombia.

PriceSmart recently began construction of a location in South Cali, that is expected to open in October 2012. It anticipates the North Cali PriceSmart Club will open in the spring of 2013.
 

York, Pa. -- The Bon-Ton Stores has signed a lease with General Growth Properties to open a Herberger’s in Pine Ridge Mall, Pocatello, Idaho.

Remodeling is expected to begin in April 2012 and be completed by the end of October 2012.

The Pine Ridge location will be the first store in Idaho for the company.
 

Zara, part of Spain’s Inditex Group, has opened its biggest U.S. location, a 32,000-sq.-ft., three-level flagship on a primo stretch of Manhattan real estate: Fifth Avenue at 52nd Street. The store is part of a 90,000-sq.-ft. retail condominium that also houses Hollister and Uniqlo flagships.

Los Angeles -- New York & Co. reported Thursday a loss of $10.9 million in the fourth quarter, compared with net income of $14.9 million a year earlier.

Sales dropped to $271.8 million, from $303.2 million in the same quarter last year, missing Wall Street’s expected $275 million in revenue. Same-store sales fell 6.3%.

Looking ahead, the retailer said it expects to open 11 outlet locations and one full-price store in the first quarter of 2012, as well as

Goodlettsville, Tenn. -- A former Safeway executive has joined Dollar General as its executive VP store operations.

Effective March 19, Greg Sparks will assume all responsibilities for the operations of more than 9,900 retail stores in 38 states and serve on Dollar General's real estate and store development committee, the company said. Sparks will report to chairman and CEO Rick Dreiling.

Sparks most recently served as president of Safeway's Seattle division. His departure from the supermarket retailer was announced earlier this week.

Ankeny, Iowa -- Casey’s General Stores said Thursday that it will break ground on its first site in Kentucky later this month. This store will be located in Cadiz, Ky., and will mark the 12th state in which the c-store chain operates.

The Cadiz store is slated to open summer 2012, and will be followed by additional stores in Paducah and Henderson later this year, said the company.

Casey’s said it also has land under contract in Tennessee with plans to break ground next fiscal year as well.