Budgets/Spending/Market Size

Washington, D.C. -- Import volume at the nation’s major retail container ports is expected to increase 12.4% in March 2014 as retailers begin to stock up for the spring and the summer season, according to the monthly Global Port Tracker report released by the National Retail Federation (NRF) and Hackett Associates.

Beachwood, Ohio — DDR has signed a letter of intent to sell its 50% ownership interest in Sonae Sierra Brazil BV Sarl, a Luxembourg company, to Alexander Otto and his affiliates for $343.6 million. DDR’s interest in SSB BV Sarl represents the company’s entire investment in Brazil. The gross proceeds of $346.6 million include $283 million from the negotiated price of R$26.00 per share of SSB, a 67% premium to the closing price on the IBOVESPA as of March 7, and DDR’s stake in Parque Dom Pedro, valued at $60.7 million.

Washington, D.C. – The National Retail Federation (NRF) calculated retail employment was down 6,700 in February 2014, yet up 205,500 year-over-year. The biggest job losses were seen in electronics and appliance stores, and sporting goods, hobby, book and music stores.

Columbus, Ohio – Net income and sales declined at Big Lots Inc. during the fourth quarter of fiscal 2013 as compared to the same quarter in the prior fiscal year. Net income declined 30% to $84.3 million from $120.3 million, while net sales dropped 6% to $1.64 billion from $1.74 billion.

National Retail Federation president and CEO Matthew Shay and chief economist Jack Kleinhenz issued a response to the organization’s February jobs report.

“While there are signs of modest momentum in the economy, now is not the time to play partisan politics with the recovery by forcing federal mandates on retailers and small business owners like an increase in the minimum wage,” Shay said. “Such policy decisions could hamper economic growth and actually drive up the unemployment rate.”

New York -- Private-equity firm Cerberus Capital Management has reached a preliminary agreement to buy Safeway Inc. for over $9 million, the Wall Street Journal reported. The deal is subject to board approval.

As part of the deal, Cerberus would pay roughly $40 a share for Safeway.

The Kroger Co., which recently completed its acquisition of Harris Teeter, reportedly was also interested in making a bid for Safeway. Even if a deal is announced between Cerberus and Safeway, Kroger could still mount a bid.

New York -- PetSmart plans to open some 70 net new stores, including approximately 50 of its standard prototypes, 20 micro stores and three PetsHotels, this year.  

News of the expansion comes in conjunction with the retailer’s fourth quarter results. Net income increased 14% to $132 million in the quarter, compared to $115 million in the year-ago period,

Net sales increased 2.9% to $1.8 billion. Same-store sales, including Internet sales, grew 1.2%.  

Following RadioShack’s surprise announcement that it will close 1,100 stores in an attempt to staunch the flow of red ink, the company has retained Melville, N.Y.-based A&G Realty Partners to manage the disposition.

“In the coming weeks we’ll be working with our landlords to find an efficient and cost-effective means to exit these unprofitable locations, and as such, we’ve engaged A&G Realty to assist us in this process,” said John W. Feray, RadioShack’s CFO, during a March 4 earnings conference call.

Washington -- Illinois tops the United States Green Building Council’s ranking of the Top 10 States for LEED-certified construction for last year. The list highlights the regions around the country that are at the forefront of sustainable building design and transformation.

The per-capita list includes commercial and institutional green building projects that were certified throughout 2013.

Phoenix - PetSmart Inc. had a better fiscal year than fourth quarter 2013, with net income and sales rising during the year but falling during the quarter, compared to the same periods a year earlier. During the fiscal year, net income rose 8% to $419.5 million from $389.5 million, while net sales grew 3% to $6.91 billion from $6.71 billion and same-store sales increased 2.7%.