Consumer Electronics

Philadelphia -- Teen value retailer Five Below said that the company is launching a major expansion into Chicago, with the signing of 12 store leases.

The new stores, which are planned to open in the spring, are the first of up to 20 new stores that will open in the Chicago market this year, according to the company.

Over the next three to five years, Five Below anticipates expanding its foothold in Chicagoland and increasing the number of stores in the region to as many as 60 locations.

CUPERTINO, California - Apple Thursday introduced its Mac App Store, which it claims boasts more than 1,000 free and paid apps. According to the company, the Mac App Store brings the App Store experience to the Mac, enabling users to buy apps using their iTunes account, download and install them in just one step. 

“With more than 1,000 apps, the Mac App Store is off to a great start,” said Steve Jobs, Apple’s CEO. “We think users are going to love this innovative new way to discover and buy their favorite apps.”

Vernon Hills, Ill. -- Beachwood, Ohio-based Chase Properties announced that Hawthorn Hills Square in Vernon Hills, Ill., is being redeveloped to coincide with the opening of Dick's Sporting Goods (December 2010) and PetSmart and Five Below that are expected to open in the spring. Additionally, Noodles will be opening a new freestanding restaurant at the center in the fall.

MINNEAPOLIS - Despite an easy prior-year comparison, Target fell short of its December same-store sales guidance with a disappointing 0.9% gain. The company had forecast December comps in the low to mid single-digit range after it released November results, which saw comps advance 5.5%. Analysts were expecting the company to report a 4% December gain.

New York City -- Barnes & Noble said on Thursday that its same-store sales rose 9.7% in the nine week holiday period ended on Jan. 1. It was the chain’s best comparable-store sales performance in more than a decade. Total sales for the period rose 8.2%.

The company said it significantly exceeded both online and in-store sales forecasts, led by strong consumer demand for Barnes & Noble's Nook brand of eReading products.

New York City -- Discounters reported mixed results for December sales, with many, including Target Corp. and Costco Wholesale Corp., posting gains that fell below analysts’ expectations.

Target Corp. said its same-store sales edged up 0.9%, well short of analyst expectations for a  4% increase. The chain said weaknesses in electronics, toys and some home categories offset strength in grocery and apparel items.

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.

Purchase, N.Y. -- Retail growth in December sales was robust across many categories, further building on November’s positive results, with some performing at better than pre-recession levels, according to MasterCard Advisors SpendingPulse, which tracks national retail and services sales.