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  • Kimco spins off Centennial Plaza to ARC

    Dallas -- CBRE’s National Retail Investment Group announced the sale of Centennial Plaza, a 233,797-sq.-ft. power center in Oklahoma City, on behalf of Kimco Realty Corp., to American Realty Capital-Retail Centers of America.

    Centennial Plaza, at 100% occupancy, is tenanted by Home Depot, Best Buy, Gordmans and Guitar Center. Home Depot’s Centennial Plaza location is the retailer’s first and only urban location in the city.
     

     

  • Mattress Firm to buy 310-store Sleep Train for $425 million

    Houston -- In a deal that will create a national specialty bedding retail powerhouse, Mattress Firm Holding Corp. has agreed to acquire rival The Sleep Train Inc. for about  $425 million. As part of the deal, Mattress Firm said that it will also assume certain additional liabilities totaling about $15 million.

    Sleep Train operates approximately 310 specialty mattress stores, primarily in California, Oregon, and other Western states. It reported net sales of $471 million for the 2013 fiscal year.

  • Asurion launches customer service solution

    Nashville, Tenn. - Asurion Retail Solutions has rolled out Solution Hub, an online platform providing consumers transparency and control of the post-purchase service experience. Solution Hub, customizable to reflect retail brands, offers consumers an end-to-end solution for filing claims, scheduling in-home repairs, and choosing the best fulfillment option for certain product categories.

  • Consumer spending down in July, but confidence up in August

    Washington, D.C. -- Household purchases unexpectedly fell 0.1% in July, after rising 0.4% the prior month, according to figures released by the Commerce Department. It was the first drop in six months. On a more positive note, confidence among households hit a seven-year high in August, according to the Thomson Reuters/University of Michigan's consumer sentiment index.

  • Halpern Enterprises breaks ground on multi-use development

    Smyrna, Ga. -- A groundbreaking ceremony has officially launched construction on Belmont, a 48-acre mixed-use development that will feature restaurants, retail shops, single-family homes and luxury rental apartments on the site of the former Belmont Hills Shopping Center in Smyrna, Georgia.
     
    The development will include a 153-home single-family residential subdivision by David Weekley Homes; a 274-unit luxury apartment community by Wood Partners; and a 47,593-sq.-ft. neighborhood retail center, which developer Halpern Enterprises will build.

  • Sears Canada opens new fulfillment center in Calgary

    Calgary, Alberta, Canada -- Sears Canada Inc. announced the opening of a new 240,000-sq.-ft. fulfillment center located in Calgary, Alberta.

  • Home Depot Q2 profit surges 14%

    Atlanta -- Home Depot said its fiscal second-quarter net income rose 14% amid a rebound in its spring selling season and strong online sales. The retailer also raised its annual profit guidance.

    "In the second quarter, our spring seasonal business rebounded, and we saw strong performance in the core of the store and across all of our geographies," stated Frank Blake, chairman and CEO.

    For the three months ended Aug. 3, Home Depot Inc. earned a better-than-expected $2.1 billion, compared to $1.8 billion in the year-ago period.

  • ARCA president retires

    Minneapolis – Edward R. (Jack) Cameron, 74, is retiring as president and CEO of Appliance Recycling Centers of America Inc. (ARCA). Mark Eisenschenk, who has served as COO since July 2013, has been promoted to the position of president and CEO.

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