Retail

Columbus, Ohio -- Express said its fourth-quarter net income rose a better-than-expected 6%, but its full-year projection for earnings came up short as the retailer provided a weak outlook.
   
Express, similar to many other retailers, had less traffic in February, as higher taxes and rising gas prices cut into shoppers’ discretionary spending.
 
For the period ended Feb. 2, Express Inc. earned $63.9 million, up from $60.4 million a year earlier.

Phoenix -- Leslie’s Poolmart will celebrate the grand opening of 13 new locations throughout the United States on March 15.

In total, Leslie's plans to open 48 stores this year, between March and May. With these new stores and its recent acquisition of 24 Warehouse Pool Supply stores in the Houston area, Leslie's will bring its total store count to more than 800 stores nationwide.

New York -- Retail spending in the United States rose a better-than-expected 1.1% in February, the highest increase since September, according to figures released Wednesday by the Commerce Department.

Sales, excluding gasoline, building materials and autos, rose 0.4%. Industry experts said that consumer spending is holding up even in the face of the higher payroll tax.

Houston -- Brixmor Property Group said that Petco will open a new 12,150-sq.-ft. store at Merchants Park, in Houston.

Brixmor, based in New York City, is the owner of Merchants Park.

Panama City Beach, Fla. -- Columbus, Ohio-based Casto said that its JV partners The St. Joe Co. and Strategic Retail Advisors, along with U.S. Bank, have closed on a $46 million construction loan that will finance The Pier Park North Shopping Center, a 360,000-sq.-ft. shopping center in Panama City Beach, Fla.

Knoxville, Tenn. -- CHM announced that it has broken ground on Knoxville’s first urban, vertical retail complex, University Commons.

The Publix- and Walmart-anchored shopping and dining center will cover 12+ acres, with 211,000 sq. ft. of retail space and parking. Besides the two anchors, an additional 40,000 sq. ft. will be dedicated to smaller retailers and service providers once the project is completed.

Waban, Mass. -- Chick-fil-A, Dunkin' Donuts, Sonic Drive-In, and Little Caesar's earned the top spots in the fast food sector of the 2013 Temkin Experience Ratings. At the other end of the spectrum, KFC and McDonalds were the lowest-rated fast food restaurants. The fast food industry earned the second highest average rating out of 19 industries, falling only behind the grocery sector.

City of Industry, Calif. -- Hot Topic reported net income in the fourth quarter ended February 2, 2013, of $12.1 million, up from $9.0 million in the year-ago period.

Total sales for the fourth quarter increased 11.0% to $233.0 million, compared to $209.9 million last year. Total same-store sales increased 2.6%. (Due to the 53rd week in fiscal 2012, fourth quarter comparable sales are compared to the corresponding 14 week period ended February 4, 2012.)