Apparel

Mixed use project breaks ground in Duluth, Ga.
Duluth, Ga. - Atlanta-based Fuqua Development, along with The Worthing Companies has broken ground on Sugarloaf Market, a 31-acre, mixed-use project located in Duluth, Georgia. Anchored by the organic grocery store Sprouts Farmers Market, Sugarloaf Market will include 75,000-sq.-ft. of retail and 330 luxury apartments.

Fuqua Development is the master developer for the project and is developing the commercial component of the project, while The Worthing Companies is developing the residential component.
Nordstrom Q1 profit misses but sales beat; opening 32 stores in 2015
Seattle – Nordstrom Inc. missed Wall Street expectations with declining profit in the first quarter of fiscal 2015, although the department store retailer beat expectations for sales, aided by impressive e-commerce results.

Net earnings were $128 million, down 8% from $140 million the same quarter the prior year. The impact of the Trunk Club acquisition in August 2014 and ongoing entry into Canada reduced earnings.

Simon to invest $1 billion in upgrade/expansion of key centers

Indianapolis – Simon plans to expand several marquee properties in the U.S., investing approximately $1 billion annually to enhance its assets. The Mills at Jersey Gardens in Elizabeth, New Jersey, will submit plans for a major expansion, adding approximately 411,000-sq.-ft. of new outlet brands, dining and entertainment to its footprint of more than 200 stores and 1.3 million-sq.-ft.
Dillard’s misses Street with profit and sales

Little Rock, Ark. – Dillard’s Inc. had a disappointing first quarter of 2015, missing Wall Street expectations with both earnings and sales. Net income dropped 2% to $109.6 million, from $111.7 million a year earlier.

Net sales climbed to $1.57 billion, from $1.55 billion. Same-store sales and total merchandise sales outside the company’s construction business both fell 1%. Dillard’s plans to open three new stores in fiscal 2015, located in Utah, Louisiana and Ohio.
Regal Cinemas comes to Celebration Pointe in Florida

Gainesville, Fla. - Regal Entertainment Group (NYSE:RGC) will open a 10-screen reserved-seating luxury theater at Celebration Pointe, a 225-acre, mixed-use regional development located in Gainesville, Florida. Celebration Pointe partner Ralph Conti made the announcement.
Simon Property to invest $1B in key malls

Simon Property Group will expand several shopping centers in the United States, with plans to invest approximately $1 billion annually in renovations.
Repeat customers fuel shoes.com's record Q1

Fast-growing retailer shoes.com is on track to generate $300 million in sales after reporting a blockbuster first quarter.

In its first quarterly financial report since consolidating three online businesses under one platform, the company reported an increase in gross revenue of 89% to a record $60 million and a 129% increase in revenue from repeat customers. Gross profit margins remained robust at 44%.
Simon Property opens expansion of Las Vegas North Premium Outlets

Las Vegas -- Simon Property Group, a global leader in retail real estate, announced that it has opened a 25-store expansion of Las Vegas North Premium Outlets.

The center is now one of the largest in the country with 175 stores. The expansion features designer and name brands, including Neiman Marcus Last Call Studio, Saks Fifth Avenue Off 5th, AG Adriano Goldschmied, AllSaints, Bally, Canali, Catimini, CH Carolina Herrera, Citizen, Helmut Lang, John Varvatos, Rag & Bone, Under Armour, and Vera Bradley.
Five Below to open 70 stores in 2015; making Kansas City debut with three locations

Philadelphia - Five Below will make its initial entry into the Kansas City, Missouri market with the opening of three stores on May 15. The tween and teen specialty retailer expects to open a total of 70 new stores during 2015, on top of opening 62 stores in 2014

The three approximately 7,500-sq.-ft. Five Below Kansas City stores are located in Tiffany Springs Market Center in Kansas City, Adam's Dairy Landing in Blue Springs, Missouri, and Olathe Pointe Shopping Center in Olathe, Kansas.
Canadian Tire pumps up Q1 profit

Toronto – Canadian Tire Corp. pumped up profit in the first quarter of fiscal 2015, expanding net income 17% to $88.3 million from $75.6 million a year earlier. Improved margins helped inflate net income totals.

Falling petroleum costs helped deflate revenue 2% to $2.51 billion from $2.57 billion, although consolidated same-store sales rose 5.5%. Same-store sales grew at all core retailer banners, including lifts of 4.7% at Canadian Tire, 8.6% at FGL Sports and 5.5% at Mark’s.
Children’s Place grows profit, shrinks sales in Q1

Secaucus, N.J. – A reduction in cost of sales helped The Children’s Place Inc. boost net income 15% to $15.6 million in the first quarter of fiscal 2015 from $13.6 million in the same quarter a year earlier. The Children’s Place achieved this increase in profitability even as net sales dropped 1% to $404.9 million, from $410.15 million.

Negative impact of foreign currency exchange fluctuations drove the reduction in net sales. Same-store sales rose 0.7%.
Cole Haan launches Apple Pay within shopping app

New York - Cole Haan is launching Apple Pay within its mobile shopping application. The retailer partnered with mobile commerce platform, PredictSpring, to build the Cole Haan iPhone, iPad and Android mobile apps.

Notable features include Shop the Look, allowing consumers to shop directly from the Cole Haan Instagram feed, as well as geo-fencing technology that alerts consumers to nearby Cole Haan stores. The Cole Haan app with Apple Pay is available for free download on the iTunes App Store.