Dick's Sporting Goods

The struggles — and exits — of former rivals has proved a boon for Dick’s Sporting Goods, which reported fourth quarter sales and earnings on Tuesday that beat the Street.       The company also announced aggressive store expansion plans.   

CBL has sold Cobblestone Village, ad 96,891-sq.-ft. center in Palm Coast, Florida, to RCG Ventures, a privately funded real estate investment group. The selling price was not disclosed.   The Belk-anchored center is a quarter-mile from the Interstate 95 interchange and is adjacent to Lowe’s and Walmart. It was “highly sought after by a variety of institutional and private investors,” said John Crossman, president of Crossman & Company, which handled the sale on behalf of CBL.  

Changes in the retail landscape call for changes in lease agreements, as well

With long-time anchors leaving malls, urgent care clinics moving into neighborhood centers, and online sellers applying pressure from all sides, retailers should take a new approach in structuring their lease agreements with property owners, say experts from both sides of the negotiations table.

RCG Ventures has purchased Oak Brook Square in Flint, Michigan, for $14.2 million. Anchored by TJ Maxx and Hobby Lobby, the 152,073-sq.-ft. center is located across the street from the Genesee Valley Mall in Flint’s largest trade zone.

Dick’s Sporting Goods is expanding its breadth.   The chain is preparing to open five stores during the second week of March, a move totaling approximately 180,000 sq. ft. of retail space.    Specifically, a new Dick’s Sporting Goods will open in the Glendale area of Queens, New York, in one of the former Sports Authority locations that the company took over late last year. Another Dick’s store will open in Hinesville, Georgia.   

Dick’s Sporting Goods is putting two of its formats under one roof in the Austin, Texas, market.   The retailer will open a Dick’s Sporting Goods and Field & Stream store on Friday, March 3 at The Parke in Cedar Park, Texas. It will be Dick’s 677th store and 29th Field & Stream store nationwide.    There are currently three other Dick’s Sporting Goods stores in Austin.  

Dick’s Sporting Goods will be relocating one of its stores in the Harrisburg, Pennsylvania, metro to space formerly inhabited by Sears at PREIT’s Capital City Mall.  

Dillard’s has signed an agreement to move into a shuttered Macy’s store at the Layton Hills Mall in Layton, Utah, north of Salt Lake City. Construction on the 160,000-sq.-ft. site is set to begin in April, looking toward a fall 2017 opening.  

The past year brought with it a changing of the guard, as many companies named new leaders to steer their ships in a transformed marketplace. Here are six newly arrived — or soon to arrive — CEOs to keep an eye on in 2017:

Jeff Gennette, Macy’s: A 33-year company veteran who came up through the ranks, Gennette takes the reins from longtime CEO Terry Lundgren in the first quarter of this year.

PREIT CEO Joseph Coradino is pursuing a take-charge course in dealing with department store attrition, announcing that his company is actively pursuing replacements for three Sears anchors he expects to close in 2017.