Department Store

New York City -- Showing that luxury is experiencing measurable bounce in the recovering economy, the higher-end department stores led the same-store sales pack in March.

Saks outperformed the rest of the category, recording an 11.1% same-store sales increase during the month. Total sales rose 9.2% to $260.2 million, compared with $238.2 million in the year-ago period.

Union, N.J. -- Bed Bath & Beyond reported Wednesday that profit for the fourth quarter ended Feb. 26 rose 25% to $283.5 million, compared with $226 million a year earlier.

The company, which forecast earnings growth for the current year that would beat Wall Street estimates, also said it expects to open 45 new stores this year across its banners , which also include Christmas Tree Shops and buybuy Baby, and expects to continue renovating and relocating existing stores.

San Francisco -- Gap has entered into a new $500 million revolving credit facility with a syndicate of banks led by BofA Merrill Lynch, J.P. Morgan and Citigroup Global Markets. The new financing matures in 2016 and replaces the company’s existing $500 million revolving credit facility. As part of the same financing agreement, the company also entered into a $400 million five-year term loan.

New York City -- Shoppers surprised analysts in March by spending stronger than expected during the month, despite rising gas prices, cooler-than-normal temperatures and a late Easter. The Thomson Reuters Same-Store Sales Index rose 1.7% in March, beating estimates, which called for a decrease of 0.7%.

Bismarck, N.D. -- Chicago-based Jones Lang LaSalle announced that it has been named as the new property and leasing manager for Kirkwood Mall, an 845,000-sq.-ft. enclosed mall in Bismarck, N.D., by an affiliate of Radiant Partners that recently purchased the mall from Metropolitan Life Insurance Co.

Kirkwood Mall was built in 1970 and contains 80 shops, anchored by Herberger’s, I. Keating Furniture World, J.C. Penney, Scheels and Target.
 

New York City -- Fast-fashion retailer Forever 21 will open a three-level, 39,000-sq.-ft. store in Miami Beach, Fla., Women’s Wear Daily reported.

The store, scheduled to open this fall, will be located on Lincoln Road. Also heading to Lincoln Road is H&M, which plans to open a 22,000 sq. ft. in the pedestrian mall.
 

NEW YORK, NY -- Walmart has endured its fair share of criticism in the press, and now a new study reveals that the world's largest retailer has garnered some negative views in the realm of social media.

Accordin to Amplicate, an online opinion collating resource that claims to account for more than 80 million public opinions of social media users, there has been over 9,985 negative Walmart opinions (http://amplicate.com/hate/walmart) expressed on Twitter, Facebook and Amplicate within the last 3 months.

Purchase, N.Y. -- Most retail segments showed solid year-over-year retail growth in March, according to MasterCard Advisors SpendingPulse, a macroeconomic report tracking national retail and services sales.

Electronics sales and department stores showed modest gains while luxury and e-commerce recorded strong growth. Some segments of the restaurant sector also showed strength in March.