Retail

Chicago — Jones Lang LaSalle Retail has announces five new retail assignments. They are:

• Tenant representation services for Pure Barre, a growing fitness franchise.

• Leasing and management for the 802,275-sq.-ft. Coventry mall in Pennsylvania.

• Leasing assignment for an 11-building 817,000-sq.-ft. portfolio of strip centers in SoCal.

• Leasing for a 12-building, 165,100-sq.-ft. portfolio of street-level retail space in New York City on behalf of Equity Residential Management.

Walmart’s SVP of Home Michelle Gloeckler may not have been among those on stage at the retailer’s domestic sourcing summit, but she is the one leading the execution of massive initiative.

New York -- Ann Inc. reported that its second quarter net income rose a better-than-expected 16% to $35.6 million, with strong performances from both its Ann Taylor and Loft banners. Similar to many other retailers in recent weeks, the chain trimmed its full-year revenue forecast.

Revenue for the period ended Aug. 3 increased 7% to $638.2 million.
 
Same-store sales rose 2.8%, with a 3.1% rise at Ann Taylor and a 2.5% lift at Loft.

Saint John, New Brunswick -- Walmart Canada grand-opened a 129,000-sq.-ft. superstore in Saint John, New Brunswick, on Friday, the first of nine “Maritime Supercenters” planned for the country by Jan. 31, 2014, said the retailer.

The newly redeveloped store, which signals the launch of Walmart Canada’s Maritime sourcing program for produce, features a fresh grocery section that will serve as a prototype for all Maritime supercenters.

Walmart displayed a powerful commitment to revitalizing U.S. manufacturing this week when the company convened its first ever domestic sourcing summit.

Not only was the event a first for Walmart, it was also unlike anything the retail industry has ever seen. Roughly 1,500 supplier company representatives, government and economic development officials, Walmart’s top executives and dozens of senior merchants participated in the three hour summit held at the Orange County Convention Center in Orlando.

Beachwood, Ohio — DDR Corp. has announced that a joint venture formed with an affiliate of Blackstone Real Estate Partners VII L.P. has closed on the acquisition of a portfolio of seven prime shopping centers totaling 2.4 million sq. ft. The assets are located in supply constrained MSA’s including Los Angeles, San Diego, Washington D.C., Portland, Harrisburg, Pa., and Cincinnati.

Honolulu — With 42 million visitors per year, the two million-sq.-ft. Ala Moana Center in Honolulu boasts sales per square foot of $1,300. At the beginning of the year, owner General Growth Properties began a massive $572 million redevelopment of Ala Moana — the world’s largest open-air shopping mall. The goal is to add 650,000 sq. ft. of new retail space.

Pleasanton, Calif. -- Ross Stores Inc. reported a profit of $213 million for the second quarter, compared with $182 million last year and beating Wall Street’s expectations.

Revenue rose 9% to $2.5 billion, matching forecasts. Same-store sales edged up 4%, compared to a 7% rise in the same period last year. However, the retailer expressed caution about the months ahead.