Real Estate

Walmart this week opened its first small format convenience store branded as Walmart To Go in its hometown of Bentonville.

Columbus, Ohio – DSW Inc. reported a net income increase in the fourth quarter of fiscal 2013 compared to the same period a year earlier, even as net sales dipped. Fourth quarter net income rose 4% to $28.1 million from $27.1 million, while net sales declined 4% to $572 million from $594 million and same-store sales remained flat.

San Francisco -- Gap Inc. plans to open five franchise-operated Old Navy stores in the Philippines in 2014. The first two Old Navy stores will open in Manila in March and there are plans to open three more stores in the second half of the year for a total of five Old Navy stores in 2014.

The first of two Old Navy stores, a dedicated three-story building, will open in the heart of Manila’s fashion and shopping district, Bonifacio High Street, on March 22. The second store will open in the prominent Glorietta mall on March 29.

Yonkers, N.Y. – Banana Republic will become a new retailer at the Ridge Hill shopping center in Yonkers, N.Y. Forest City Ratner Companies (FCRC), the developer and owner of Ridge Hill, said the Banana Republic location will open beneath the center's Uniqlo store.

Northbrook, Ill. – Trustees of Northbrook, Ill. reportedly are considering a 43,000-sq.-ft. retail development. According to the Chicago Tribune, the development sits on a four-acre parcel near the border with Glenview, Ill., which is owned by Svigos Asset Management.

Bentonville, Ark. – Wal-Mart is piloting a new small format convenience concept called “Walmart To Go.” The first Walmart To Go store has opened in Bentonville, Ark., location of the retailer’s corporate headquarters.

New York -- Sears Holdings Corp. said its board has approved the spin on of its Lands’ End business, effective April 4, according to a filing with the U.S. Securities and Exchange Commission.
 
The agreement, which was announced in December, will make Lands' End an independent company that will trade on the Nasdaq under the symbol “LE.”

Sears stockholders on record as of March 24 will receive about 0.3 shares of Lands' End common stock for each share of Sears they own.

Dallas -- Greenway Investment Co. has acquired Denton Town Center in Denton, Texas, from a family trust represented by the Dallas office of Transwestern. Dollar-Flowers Realty Partners represented Greenway.