Retail

By Steve Castro-Miller, president and CEO of Bold Software, [email protected]

Natick, Mass. -- BJ’s Wholesale Club announced that Robert W. Eddy, senior VP, director of finance, has been named executive VP and CFO, and Cornel Catuna, BJ’s senior VP field operations, has been named executive VP club operations. These management changes will be effective on Jan. 30.

Matthews, N.C. -- Family Dollar Stores said Wednesday that its fiscal first-quarter profit climbed 9.9% on strong candy and food sales and higher customer traffic. The discounter reported net income of $74.3 million for the period ended Nov. 27, up from $67.6 million a year ago. Its results, however, were short of analysts expectations, with the disappointing profit attributed primarily due to lower gross margins and higher freight costs.

West Bridgewater, Mass. -- Shaw's Supermarkets has announced that it will close five unprofitable stores in Massachusetts and Rhode Island by the middle of next month.

The company said in a statement that it decided "only after careful evaluation" to close the stores. The Massachusetts stores are in New Bedford, Stoneham and Revere. The Rhode Island locations are in Johnston, and on Bald Hill Road in Warwick.

The stores will be closed by Feb. 17.

Plymouth Meeting, Pa. -- Fameco Real Estate, L.P. said that Patel Bazaar and Spice Kitchen have signed leases for 6,900 sq. ft. along the 422 Corridor in Montgomery County, Pa.

Patel Bazaar, an Indian grocery store, has signed a 4,900-sq.-ft. lease at Jefferson Plaza Shopping Center in West Norriton Township. The grand opening is scheduled for January 14. Spice Kitchen, an Indian restaurant, has signed a lease for 2,000 sq. ft. at the Park Ridge Shopping Center in Trooper. The center is anchored by Acme. Spice Kitchen opened its doors several weeks ago.

The New Year is off to a busy start at BJ’s Wholesale Club. Amid ongoing speculation about the retailer being a potential takeover target, BJ’s on Wednesday announced the closure of five clubs, several senior level personnel changes and released its December sales a day earlier than normal.

Reston, Va. -- Retail e-commerce spending for the entire November -- December 2010 holiday season reached $32.6 billion, marking a 12% increase versus last year and an all-time record for the season, according to comScore.

St. Paul, Minn. -- Paster Enterprises said that five new tenants have been secured at the company’s projects throughout the area. New tenants include Furniture CLW, No Box TVs, Chickadee’s House, Anytime Fitness and Wilson’s Leather Outlet.

In Crystal Shopping Center, a 370,000-sq.-ft. community center, Wilson’s Leather Outlet will open a 3,171-sq.-ft. store. In Lexington Plaza Shoppes, a 26,747-sq.-ft. neighborhood center, Chickadee’s House will open a 1,332-sq.-ft. bird enthusiast store.