Retail

LOS ANGELES, Calif. — Nearly 60 years to the day after Edmund Hillary and Tensing Norgay climbed Mount Everest, 48-year-old Russian Valery Rozov has jumped off its north face at 23,667 ft. to set a world record for the highest B.A.S.E. jump.

London — The International Council of Shopping Centers’ executive committee has elected Marcus Wild, CEO of SES Spar European Shopping Centers, as divisional VP for the association’s European division.

Whiting, Ind. -- Survey results released Thursday by CouponCabin.com found that more than one-in-10 Americans say their shopping habits have put them in debt, with 20% saying the most amount of shopping debt they've been in exceeds $5,000.

The survey, conducted by Harris Interactive, also revealed that 41% of U.S. adults have created shopping debt of more than $1,000. Eleven percent consider themselves to be shopaholics.

Fayetteville, N.C., is the next stop for Walmart’s Saluting Heroes Together campaign, which together with Operation Homefront, aims to honor the men and women who have served or are currently serving in the military, as well as their families. 

Memphis -- Fred's Inc. said Thursday that profit for the quarter ended May 4 rose 9% to $11.4 million, from $10.5 million last year. Results topped Wall Street forecasts.

Revenue edged up to $501.5 million from $500.5 million, beating analysts’ estimated $499.5 million in revenue. Same-store sales dipped 1.3%.

Charlotte, N.C. -- Beachwood, Ohio-based DDR Corp. has announced the opening of Belgate Shopping Center, the company's first ground-up domestic development in over four years.

Belgate is a 100% leased, 900,000-sq.-ft. prime power center located in Charlotte, N.C., anchored by Ikea, Walmart and a complimentary lineup of junior anchors including Marshalls, Ulta, Old Navy, Petco, Cost Plus World Market, Hobby Lobby and Shoe Carnival.

TORONTO — Loft will open four new store locations in Ontario, Canada, following the retailer's initial foray into the Great White North late last year at the Yorkdale Shopping Centre in Toronto.

The retailer also introduced e-commerce into its new Canadian market in March.

Los Angeles -- Guess? reported Thursday that adjusted net earnings for the quarter ended May 4 plummeted 56.1% to $11.7 million, from $26.6 million in the year-ago period.

According to CEO Paul Marciano, the results were better than the company had expected.

"Despite the continued global economic challenges … these earnings reflect the ongoing success within the company to globally streamline and improve productivity,” he said.