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Retail

  • Sears to spin off Lands’ End

    Hoffman Estates, Ill. — In a not-so-unexpected move, Sears Holdings Corp. on Friday said it had filed to spin off its Lands' End unit.

    Sears has been selling or spinning off assets during the past few years as it struggles to turn around its business. The company sold its Orchard Supply Hardware Stores and its Sears Hometown and Outlet Stores businesses last year. In October, Sears said it would consider strategic alternatives for its line of auto centers. Sears also is selling some store leases in Canada.

  • Black Friday, Cyber Monday mentions on social media rise

    Black Friday social mentions more than doubled those of Cyber Monday this year. But a new infographic from SAP shows that consumers felt the most excited and happy about Cyber Monday.

  • Devonshire buys Great Lakes in Mentor, Ohio

    Whitehouse, Ohio — Devonshire REIT has announced the closing of its acquisition of the Great Lakes Plaza shopping center in Mentor, Ohio, a suburb of Cleveland. Michaels and hhgregg co-anchor the center, which is 100% leased.

    Devonshire bought the 81,349-sq.-ft. center from Simon Property Group for $8 million. Goldman Sachs Mortgage Company provided financing.

  • Four new upscale retailers come to Galleria in Houston

    Houston -- Simon Property Group announced today that four new, high-end retailers, Rolex, Tod's, Trina Turk and Tourbillon, will be added to the retail mix at The Galleria shopping center in Houston. Gucci, Tory Burch, Zara, Sephora and Club Monaco will also execute lease renewals and expansions in 2014. In addition, Chanel has renewed its lease and will be renovating the boutique.

    Details of 2014 activity at The Galleria in Houston include:

  • AmazonFresh may be heading to San Francisco

    Amazon's fresh food delivery service may be expanding to San Francisco, according to published reports.

    All Things Digital, a Dow Jones-owned website that reports on technology news, reported on several sightings in San Francisco of AmazonFresh trucks, as well as a recent job posting.

    According to the site, Amazon plans to announce the service's launch on Tuesday. Amazon began offering the service in Seattle and recently expanded it to Los Angeles. AmazonFresh allows users to shop online for produce, dairy products, dry goods and others.

  • DDR completes redevelopment of Roswell, Ga., center

    Beachwood, Ohio — DDR Corp. has announced the completion of a $12 million redevelopment project at Sandy Plains Village, a power center located in the Atlanta suburb of Roswell.

    The redevelopment installed a 60,000-sq.-ft. Wal-Mart Neighborhood Market in a space formerly occupied by a traditional grocer. The new location is DDR’s 79th Wal-Mart store and the company’s eighth in the Atlanta market.

  • NRF: Retailers add 13, 500 jobs in November

    Washington, D.C. – The National Retail Federation estimated that the retail industry added 13,500 jobs in November, and 268,500 year-over-year.

    The Bureau of Labor Statistics Employment Situation report showed that November total nonfarm payroll employment rose by 203,000, with the unemployment rate at 7%.

  • Teens and tweens keep spending at Five Below

    Specialty retailer Five Below offered a somewhat muted outlook for holiday sales despite posting impressive growth in third-quarter same-store sales and achieving record expansion in 2013.

    The company has opened 60 new stores this year and its same-store sales grew 9% during the period ended Nov. 2. Of the new stores opened this year, 28 came online during the third quarter and 11 of those were in Dallas, a new market for the rapidly expanding company.

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