Real Estate

Matthews, N.C. -- Family Dollar Stores Inc. reported Thursday that its first quarter profit rose 8% to $80.4 million, compared with $74.3 million in the year-ago period.

Sales for the period ended Nov. 26, 2011, rose to $2.15 billion from $2 billion in the year-ago period, missing Wall Street’s expected $2.17 billion in revenue. Same-store sales rose 4.1%.

Pleasanton, Calif. -- Safeway Inc. is exiting the Philadelphia market. The company announced it has reached a definitive agreement to sell 16 of its Genuardi's stores in the greater Philadelphia area to Giant Food Stores, LLC, a division of Ahold USA.

The deal is valued at $106 million.

In addition, Safeway plans to close three Genuardi's stores and sell the remaining eight Genuardi's stores, which it will continue to operate while it is working with potential buyers.

PLEASANTON, Calif. — Safeway on Thursday announced the sale of 16 of its Genuardi's stores in the greater Philadelphia area to Giant Food Stores, a division of Ahold USA. Safeway will continue to operate these stores until the transaction closes, and the company is working through an orderly transition for all of these stores.

In addition, Safeway plans to close three Genuardi's stores and sell the remaining eight Genuardi's stores, which it will continue to operate while it is working with potential buyers.

Chicago -- General Growth Properties announced the addition of Von Maur department store as an anchor to Perimeter Mall, Atlanta, which has sales of more than $550 per square foot.

The department store is projected to open in fall 2012. Von Maur will replace the soon to be vacant Bloomingdale's location. Von Maur joins a retailer line-up that also includes Apple, Nordstrom, Michael Kors, Sur La Table, and Forever 21 among many others. Perimeter Mall is a 1.6 million-sq.-ft. two-level center north of downtown Atlanta.

Chicago -- General Growth Properties announced the addition of Von Maur department store as an anchor to Perimeter Mall, Atlanta, which has sales of more than $550 per square foot.

The department store is projected to open in fall 2012. Von Maur will replace the soon to be vacant Bloomingdale's location. Von Maur joins a retailer line-up that also includes Apple, Nordstrom, Michael Kors, Sur La Table, and Forever 21 among many others. Perimeter Mall is a 1.6 million-sq.-ft. two-level center north of downtown Atlanta.

NEW YORK — Macy’s Inc. announced a strategic plan on Wednesday to open new stores in select markets as well as to close a series of underperforming units. As part of the plan, five Macy’s department stores will be shuttered in spring 2012 – in Topeka, Kan.; Laurel, Md.; Parma, Ohio; Antioch, Tenn.; and Texas City, Texas. Five new Macy’s stores will open in 2012 and 2013.

Goodlettsville, Tenn. -- Dollar General plans to open 625 stores and add more than 6,000 new jobs in 2012. The locations will be spread among Dollar General’s 38-state operating area, and include the new markets of California, where it will open 50 stores and a distribution center, and Massachusetts. The discounter will also open a distribution center in the Golden State this year.

New York City -- The owners of the Panda Express fast-food chain, Andrew and Peggy Cherng, have partnered with Procter & Gamble, whose products include Tide laundry detergent, to open a dry cleaning chain, Panda Dry Cleaning, according to the Los Angeles Times.

The new concept made its debut under the Tide Dry Cleaners banner in Henderson, Nev., and as many as 200 franchised locations nationwide are planned for the next five years.