Real Estate

New York -- Fashion retailer Cache reported Thursday that net income for the fourth quarter ended Dec. 31 was $1.9 million, compared with a loss of $14.2 million the year-ago period.

Sales surged 12.5% to $62.9 million, from $55.9 million in the fourth quarter of fiscal 2010. Same-store sales increased 12.4%.

Year to date the company has closed 12 underperforming stores and said it expects to close five more stores and open two in fiscal 2012.

Hoffman Estates, Ill. -- Multiple reports on Thursday said that Sears Holdings Corp. is considering a sale of its Lands’ End mail-order catalog business, as part of its move to raise up to $2 billion.

The New York Post reported that Sears is in talks with several private-equity firms about the potential sale.

Sears chief Eddie Lampert is said to be likely to hire Goldman Sachs to find a buyer for Lands’ End.
 

MINNEAPOLIS — In a move to tighten its footprint and reduce costs, Best Buy Co. said Thursday it will close 50 of its signature big-box stores and open 100 of its small mobile locations in the United States in fiscal 2013. The shift will help cut $250 million in costs by 2013 and $800 million by 2015, said the electronics retailer.

Houston -- A report in the Houston Chronicle said that grocer Trader Joe’s is opening two additional Houston-area locations — one in the Memorial area and one in Montrose.

In November Trader Joe’s announced its first planned Houston area store in The Woodlands Crossing Shopping Center.

All three stores are slated to open this year. The Memorial-area store will be 14,000 sq. ft., the Montrose store will be 14,500 sq. ft. and the store at The Woodlands will be 13,500 sq. ft.

Stockholm, Sweden -- Swedish fashion retailer Hennes & Mauritz AB confirmed Thursday that it will open a new chain in 2013 that will build on the 2007 launch of its upscale Collection of Style (COS). No name for the new concept has been revealed yet.

Phoenix -- Indianapolis-based Simon Property Group said Wednesday that its Premium Outlets division has launched construction of Phoenix Premium Outlets, an upscale outlet shopping center serving the Greater Phoenix and Scottsdale areas.

Phoenix Premium Outlets will be located in Chandler, Ariz. Phase I of the project will be comprised of 360,000 sq. ft. housing approximately 90 outlet stores featuring high-quality designer and name brands. A spring 2013 opening is planned.

Hiring is set to get underway soon for new CityTarget stores slated to open this summer in Seattle, Chicago and Los Angles, according to published reports.

Matthews, N.C. -- Family Dollar Stores Inc.'s second-quarter earnings rose 10.7% as increased customer traffic fueled higher sales. Its results topped analysts’ expectations.

The discounter said its net profit rose to $136.4 million for its fiscal second quarter ended Feb. 25, 2012, from $123.2 million a year earlier.