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September solid for discount retail, mixed for others
Retail sales in September decelerated from August at many of Walmart’s competitors, but overall demand remained positive judging from the shrinking number of companies who continue to report monthly results.
Discounters The TJX Cos. and Ross Stores reported September same-store sales that rose 6% and 5%, respectively. The figures exceeded both companies’ expectations and shoppers continue to respond to their brand of apparel retail.
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DDR completes $2.1 billion of strategic transactions year to date
Beachwood, Ohio -- DDR Corp. announced Monday the acquisition of $328 million of prime assets and the disposition of $12 million of non-prime assets during the quarter.
Year to date, the company closed $2 billion of acquisitions, including the joint venture with Blackstone's flagship real estate fund, and disposed of $137 million of non-prime assets.
As of the third quarter, DDR said it has raised gross common equity capital of $435 million through the issuance of 31.7 million new common shares to fund investments and lower leverage.