Development/Redevelopment

CITY OF COMMERCE, Calif. — A strong earnings and sales performance during its fiscal second quarter gave 99 Cents Only Stores the confidence to raise its full year guidance and become more aggressive with store growth. The company reported that total retail sales increased 9% to $352.2 million and same-store sales increased 6.7% for the second quarter. Consolidated net income increased by $2.2 million to $15.1 million or 21 cents per diluted share, versus $12.9 million in the prior year, or 18 cents per diluted share

Seattle -- Nordstrom Inc. reported Thursday that profit for the quarter ended Oct. 29 rose 6.7% to $127 million, compared with $119 million in the year-ago period.

Net sales rose 14.2% to $2.4 billion, surpassing Wall Street’s expected $2.35 billion and up from $2.1 billion a year earlier.  Same-store sales climbed 7.9%.

The company opened two full-line department stores – in Nashville and St. Louis -- and nine Nordstrom Rack stores during the quarter.
 

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 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%.

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.

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.

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: