Real Estate

Pittsburgh -- Dick’s Sporting Goods announced it is opening five stores this week.

The retailer will be opening stores at Fort Smith Pavilion, Fort Smith, Ark.; Springbrook Prairie Pavilion, Naperville, Ill.; Indian Mound Mall, Heath, Ohio; The Shops at Stonewall, Gainesville, Va.; and Lisbon Landing, Lisbon, Conn.

In its seventh year, the annual Top Redevelopers survey took a little turn. Chain Store Age’s coverage of the prior year’s redevelopment highlights has been expanded to include an additional six-month period in order to make the results as current as possible. So, instead of covering redevelopment projects that occurred during calendar year 2010, this year’s results include the first six months of 2011, as well.


Toronto -- Joe Fresh, the Canadian value-priced apparel brand, has opened its first permanent U.S. store, in Bridgewater Mall, Bridgewater, N.J., and another in Roosevelt Field Mall, Garden City, N.Y. The company will make its New York City debut, in Manhattan’s Flat Iron District, on Nov.3. A second store will open in spring, on Fifth Ave.

In addition, the retailer is opening two Joe Fresh Holiday Fashion pop-up stores in Manhattan. (This past summer, the brand operated a summer pop-up in East Hampton, N.Y.)

New York City -- British fashion retailer L.K.Bennett, opened its third U.S. boutique, at The Shops at Riverside in Hackensack, N. J.

“We have over 100 stores in the UK. now — and in the long term weʼd like to have the same number of stores in the U.S.,” said Robert Bensoussan, CEO London.

New York City -- Saks plans to close its 20,000-sq.-ft. Saks Fifth Avenue Off 5th store in Triangle Factory Outlets in Morrisville, N.C., (metropolitan Raleigh) by Jan. 1.

The company opened a 30,000-sq.-ft. Off 5th location in Tanger Outlet Center of the Piedmont in nearby Mebane, N.C., in 2010, which will serve as a replacement store for the closing location. The new Mebane store was designed in the chain’s loft” format that debuted in 2008 and which redefined and elevated the outlet shopping experience.

New York City -- Tiffany & Co. announced plans to open a store in Prague, marking the luxury retailer’s first location in Eastern Europe. The 2,600-sq.-ft. store is scheduled to open in the summer of 2012.

“The opening of our first store in Eastern Europe marks a significant strategic move for Tiffany, as we further develop and grow our business throughout Europe,” said Melvyn Kirtley, group VP Europe.
 

MOORESVILLE, N.C. — Lowe's Monday announced that it would close several stores and discontinue a number of planned new store projects as the company looks to bounce back from a second quarter of declining earnings and flat same-store sales.

The company closed 10 locations on Oct. 16 and said it would close another 10 within the month, following an inventory sell-through.

San Francisco -- X Team International, an international alliance of retail real estate advisors, announced the election of John Cumbelich as its new president and Clay Mote and David Larson as new board members.

Exiting president is Nelson Wheeler of Strategic Retail Advisors-California.