Retail

New York -- Barnes & Noble is planning to shutter approximately one-third of its stores during the next 10 years, CEO Mitchell Klipper said in an interview with the Wall Street Journal. As of Jan. 23, the company operated 689 stores. (The company also operates a separate division of 674 college book stores.)

“In 10 years we'll have 450 to 500 stores,” said Klipper in the interview, who noted that, even with the reduced store count, “it’s a good business model.”

Philadelphia -- Teen and tween retailer Five Below will open 60 stores this year, including its first-ever locations in Texas.

The retailer said it will open four to five stores in Austin, Texas, and 10 to 12 stores in Dallas by late summer, with the potential for more than 100 stars in the Lone Star Sate stores over time.

New York -- The National Father’s Day Council, a nonprofit that recognizes modern day role model fathers, has named Terry Lundgren, chairman, president and CEO of Macy’s Inc., as a recipient of its 2013 “Father of the Year” Award.

Lundgren joins President Bill Clinton, founder of the William J. Clinton Foundation and 42nd President of the United States, as a fellow honoree. The awards will be presented at the 72nd Annual Father of the Year Awards in New York City on June 11.

Woodland Hills, Calif. -- Great American Group said Friday it has been selected to handle the liquidation of Bakers Footwear Group, offering discounts for products in 56 of Bakers Footwear Groups’ remaining stores, as well as online at Bakersshoes.com.

Bakers locations in Alabama, California, Connecticut, Florida, Georgia, Illinois, Kansas, Kentucky, Louisiana, Michigan, Missouri, Nevada, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Texas, and Virginia are part of the sale event.
 

New York -- Mexican supermarket and restaurant operator Gigante has entered into a joint venture with Petco Animal Supplies to open at least 50 stores in Mexico and other Latin American countries over seven years, Reuters reported.

The first two Petco stores will open this year in Mexico City and Guadalajara, Gigante said in a release to the stock exchange.

The financial terms of the agreement were not disclosed.

Oakbrook Terrace, Ill. -- A Friday report by Mid-America Real Estate Corp. found that 2012 shopping center construction in the Chicagoland area grew 10% year-over-year, after a four-year decline.

According to the 2012-2013 Chicagoland Shopping Center Report, square footage increased from 1.02 million sq. ft. of space in 2011 to 1.14 million sq. ft. – a difference of about 113,000 sq. ft.

Armonk, N.Y. -- Online fashion retailer Privalia said Friday it is working with IBM to boost its expanding online sales business through mobile and social channels.

Privalia organizes online flash sales, a phenomena that offers personalized, limited-time offers to consumers at attractive prices.

By Bradley W. Snyder, [email protected]