Real Estate

Philadelphia – Five Below Inc. reported healthy profit and sales gains in the first quarter of fiscal 2015 and is planning to open 155 stores in the next two fiscal years. The retailer’s net income totaled $4.28 million, up 39% from $3.08 million a year earlier.

Higher gross profit and the elimination of debt extinguishment loss helped Five Below reach above in net income. Five Below plans to open 70 stores and enter six new states in 2015, and plans 85 openings for 2016.

New York - Charming Charlie has unveiled its first New York City flagship store. Situated on Fifth Avenue, the flagship is a showcase for the brand's new store concept, and was designed in partnership with Callison Architects.  

Dallas - Trademark Property Co., the operating partner for The Shops at Highland Village, has started construction on its multi-million dollar renovation of the 389,090-sq.-ft. shopping center. Enhancements include: upgraded building façades, common area and landscaping improvements, public art, new amenities for adults and children, and new signage throughout the property.

Five Below reported an increase in same store sales and profit for the first quarter in the same week the company opened a new distribution center to support its expansion plans. 

Strong sales of tobacco products, candy and snacks helped drive Dollar General's same-store sales up nearly 4% in the first quarter as the company celebrates its 12,000th store opening this month.

Dollar Tree has agreed to sell 330 of its stores to the private-equity firm Sycamore Partners in order to get regulatory approval for its $8.5 billion purchase of Family Dollar.

Sycamore Partners intends to operate the 330 stores, which represent approximately $45.5 million of operating income for Family Dollar, under the Dollar Express banner.

Hingham, Mass. -- WS Development and Derby Street Shoppes continue to add new and exciting retailers to the vibrant mix of existing shops, boutiques and restaurants by announcing the opening of DavidsTea and Sephora. DavidsTea, expects to open its only location on the South Shore in mid-summer, while perfume and cosmetics retailer, Sephora, hopes to open later this year.

The rebound in the nation’s economy is boosting retail sales and spurring an uptick in the number of retailers seeking to expand their presence in existing markets or grow into new trade areas. However, the boom does have a downside for those tenants, as most are finding out.