Consumer Electronics

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.

Indianapolis – Consumer electronics retailer Hhgregg Inc. had anything but an electric fourth quarter of fiscal 2015, missing Wall Street expectations for profit and revenue. Net loss widened to $25.23 million from $7.24 million the same quarter a year earlier.

Net sales shrunk 10% to $485.6 million from $538.3 million. Same-store sales also fell 10%. Rising selling, general and administrative (SG&A) expenses, as well as a non-cash asset impairment, helped increase net loss.

Simon Property Group will expand several shopping centers in the United States, with plans to invest approximately $1 billion annually in renovations.

Hhgregg President and CEO Dennis May played the “pleased with significant progress on transformation efforts” card after the company reported abysmal sales for its fourth quarter ended March 31.

The retailer said same store sales decreased 10%. Net sales decreased 9.8% to $485.6 million. Revenue dropped 10% to $485.6 million. The company had a loss of $25.2 million, or 91 cents a share, wider than its prior-year quarter loss of $7.2 million, or 25 cents a share.

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.

Dillard’s joined Macy’s, Kohl’s and JCPenney in reporting lackluster results as a result of weak sales in the first quarter.

For the first quarter ended May 2, Dillard’s reported of $109.6 million, or $2.66 a share, compared with $111.7 million, or $2.56 a share, in the prior year quarter. Same-store sales declined 1%.

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.

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.