Retail

When an 180,000-sq.-ft. Walmart Supercenter opens at Hunter Crossroads this fall, it will mark the first major retail opening in the shopping center, which is part of a larger 160-acre planned mixed-use project.

Developed by Hunter Crossroads LP, the center is being leased by Transwestern, based in Dallas.

Construction on the new Walmart is more than halfway completed; expected opening date is September 2013 and the store will feature Walmart’s smaller, more efficient prototype in lieu of its more traditional 220,000-sq.-ft. layout.

Deerfield, Ill. -- Walgreens announced plans to build what the company believes will be the nation’s first net-zero energy retail store. The store, which is predicted to produce energy equal to or greater than it consumes, will be located in Evanston, Ill., at the intersection of Chicago Avenue and Keeney Street, where demolition of an existing Walgreens store now is under way.

New York -- SL Green Realty Corp. announced Wednesday that fashion retailer Alexander McQueen has signed a 15-year lease for a mid-block retail space at 747 Madison Avenue.   

The tenant is expected to move into the space during third quarter 2013.
 
The retail co-op interest at 747 Madison is owned by a joint venture that includes SL Green, Jeff Sutton and Harel Insurance Co.

Torrance, Calif. -- Smack Sportswear, manufacturer of indoor and beach volleyball apparel, announced that its first flagship officially opened its doors on Feb. 23.

The store, in Huntington Beach, Calif., sits inside of the former Huntington Beach Training Center, which has since been renamed the "Smack Center." It houses eight indoor volleyball courts and three Futsal (indoor football) courts. Smack's flagship store offers curb appeal to the thousands of coaches, teams, and visitors to the facility.

I have to admit, the recent announcement of the merger between Office Depot and OfficeMax took me by surprise. It’s not as though it doesn’t make sense — it’s logical both logistically and financially — but, while there had been a few rumblings and rumors, this is a dramatic move that took place with relatively little forewarning.

Columbus, Ohio -- Big Lots reported Wednesday that net income for the fourth quarter rose to $120.3 million, from $114.7 million in the year-ago period. Sales in the U.S. increased 4.4% to $1.7 billion from $1.6 billion, and domestic same-store sales dipped 3.5%.

For the full year, income from continuing operations dropped to $177.2 million, from $207.2 million in the prior fiscal year. This year’s results included $3.4 million in charges related to new inventory system implementation.

Menomonee Falls, Wis. -- Kohl’s reported Wednesday the simultaneous grand openings of nine new stores in seven states, bringing the retailer’s total store count to 1,155.

Stores open Wednesday in Decatur, Ala., Danville, Ill., Ames, Iowa, Cedar Rapids, Iowa, Minot, N.D., Sherwood, Ore., Hermitage, Pa., Spring Township, Pa. and Denton, Texas.

“As Kohl’s continues to grow, investing in our stores remains a priority,” said Kevin Mansell, president and CEO.

New York -- Award results released Wednesday by international think-tank Ethisphere Institute listed Whole Foods, OfficeMax and Target among the World’ Most Ethical Companies.

The institute reviewed nominations from companies in more than 100 countries and 36 industries. Selection is based on a review of codes of ethics; evaluating the investment in innovation and sustainable business practices; looking at activities designed to improve corporate citizenship; and studying nominations from senior executives, industry peers, suppliers and customers.