Real Estate

New York -- Ann Inc. reported Friday that profit for the second quarter rose 24% to $30.7 million, compared with $24.8 million in the year-ago period.

Same-store sales companywide increase 4.7%; by brand, Ann Taylor store comps increased 3.2% and Loft comps rose 4.1%.

The company raised its outlook for the full year of fiscal 2012, and also said that it is on track to open approximately 65 new stores this year, partially offset by the impact of downsizes at Ann Taylor stores and approximately 30 store closures. 
 

Canton, Mass. -- Casual Male Retail Group said Friday that second-quarter profit dropped to $1.2 million, from $6.6 million in the year-ago period. Total sales were flat at $100.5 million, and same-store sales edged up 2%.

However, continuing strength from the DestinationXL stores vs. the Casual Male XL locations is prompting the company to focus on growing the former.

Dallas -- A Thursday report by the Wall Street Journal said that Warburg Pincus and TPG, the private-equity owners of Neiman Marcus Group Inc., are looking for an exit.

The firms paid $5.1 billion for Neiman Marcus seven years ago; the company is currently valued, according to analysts, at about $4 billion.

Birmingham, Ala. -- Hibbett Sports reported Friday that net income for the quarter ended July 28 surged 32.9% to $7.9 million from $5.9 million in the comparable-year period.

The retailer reported a net sales increase of 8% to $165.4 million compared with $153.1 million for the same period last year. Same-store sales increased 4.8%.

The company increased its earnings guidance for fiscal 2013 and said it is on track to open 55 to 60 new stores, expand approximately 15 high performing stores and close up to 18 underperforming stores.

WAYNE, N.J. — Toys“R”U opened its first stores in Beijing this weekend, marking its continued expansion across China. 

Peoria, Ill. -- Cullinan Properties announced that Kellie Schmidt has been named corporate marketing manager for the company, charged with overseeing Cullinan’s brand presence, in addition to creating and executing marketing and communication strategies.

Moorestown, N.J. -- Philadelphia-based Pennsylvania Real Estate Investment Trust said that Crazy 8 will open its Moorestown Mall property, located in Moorestown, N.J.

The 2,505-sq.-ft. store is slated to open this fall in the 1 million-sq.-ft. enclosed regional mall anchored by Macy’s, Lord & Taylor, Sears and Boscov’s.
 

Dallas -- SRS Real Estate Partners announced that FreeBirds World Burrito has selected seven new locations slated to open in Central California later this year.
 
The seven sites in California are located in Sacramento, Tracy, Fresno, Clovis, Turlock, and two sites in Modesto, and all were acquired from Qdoba franchisee 4G Management. All locations will be converted to company owned and operated units and range from 2,000 sq. ft. to 4,000 sq. ft.