Home Goods

The term “post-department store era” was once considered so controversial that many in the retail world avoided using it, fearing backlash from powerful industry giants like Macy’s and Sears. Some saw the very idea of department store obsolescence as pure folly while others saw it only as a vague possibility too far in the future to consider.
 

New-build shopping center construction was plodding last year — discounting the outlet category, which continues to grow at record speed. And, yet, sometimes one has to look at the quality of what is coming out of the ground — or expanding — and not just the quantity.

Sierra Trading Post, an online retailer TJX Cos. acquired in 2012, is accelerating store expansion and could become a new growth driver for the nation’s leading off price retailer with designs on extending its value proposition to the outdoor and active lifestyle world.

HomeGoods, Stein Mart and Sierra Trading Post will fill a 76,000-sq.-ft. void created by the closing of a Kmart store at the Maple Village shopping center in Ann Arbor, Michigan.

Richmond, Va. -- Divaris Real Estate announced the completion of four leases totaling 14,367 sq. ft. of commercial space in the metropolitan Richmond, Virginia market.

Off-price giant The TJX Companies attracted record numbers of bargain-hungry shoppers during the holiday period as the retailer reported record sales and profit sales for the fourth quarter.

For the period ended Jan. 30, net sales at TJX Cos. increased 8% to $8.96 billion, and same-store sales increased 6%.

Net income rose 2.8% to $666.5 million and diluted earnings per share were 99 cents, a 6% increase over the prior year’s 93 cents. Both income and sales exceeded expectations.

Closter, N.J. -- EDENS announced that Closter Plaza, located in Closter, New Jersey, will have a new lineup of stores that cater to foodies, fashionistas and families this spring. The openings will coincide with the center's long-anticipated revitalization by leading retail developer.