Department Store

In the Feb. 24 edition of SiteTalk, we asked you about Borders'just-announced Chapter 11 bankruptcy and closures, and to what retailers you thought some of that prime real estate would go. Here is what two of our readers had to say:

"[I think they will go to] regional furniture chains [Value City] and regional electronics such as Hhgregg."
-- Joe Deckop
Columbus Consulting
Columbus, Ohio

Kearney, Neb. -- The Buckle reported Thursday that net income for the quarter ended Jan. 29 rose to $49.5 million, compared with $42.1 million in the year-ago period.

Sales rose 10.4% to $303.1 million, from $274.4 million.

Same-store sales increased 6.3%.

For the full year, The Buckle reported that net income rose to $134.7 million from $127.3 million in 2009. Yearly sales increased 5.7% to $949.8 million, from $898.3 million. Same-store sales edged up 1.2%.

Los Angeles -- Caruso Affiliated said it has begun construction on 8500 Burton Way, an upscale residential and ground-floor retail property featuring Trader Joe’s, located in a flourishing region of Los Angeles, adjacent to Beverly Hills.

The eight-story building combines contemporary architectural elements with rich materials, and is moving forward at a time when most other commercial development has stalled.

JACKSONVILLE, Fla . -- Stein Mart announced that its costume and sterling jewelry buyer, Lori Cassidy, was named to the 2011 Merchants Hall of Fame by the trade publication Accessories magazine.

Jacksonville, Fla. -- Stein Mart reported Thursday that fourth quarter profit surged to $18.8 million from $2.7 million in the year-ago period. Results included an income tax benefit in fourth quarter 2010.

Revenue for the quarter ended Jan. 29 decreased 1.5% to $336.7 million, compared with $341.8 a year earlier. Same-store sales dipped 1.2%.

Chicago -- Urban Retail Properties LLC said it has been awarded the contract by Five Mile Capital Partners LLC to provide management and leasing services for Shawnee Mall located in Shawnee, Okla., and Brazos Mall in Lake Jackson, Texas, effective immediately.

Shawnee Mall is a one-level enclosed regional shopping center anchored by Dillard’s, Sears and J.C. Penney. The tenant line-up includes a newly remodeled Jones Theatres Movies Six, Old Navy, Ross Dress For Less, Buffalo Wild Wings and over 70 specialty stores.

NEW YORK -- Phillips-Van Heusen and Comfort Revolution announced that they have entered into a licensing agreement under which Comfort Revolution will market and distribute memory foam bedding and stadium seat cushions under PVH’s IZOD brand. The licensing agreement has an initial term of just over two years and provides for a three-year renewal at PVH’s option.

Atlanta -- The Hudson's Bay Co., based in Toronto, Ontario, said it has selected Warehouse Management from Manhattan Associates to help raise productivity within its distribution centers.

The retailer also selected solutions from Manhattan’s Transportation Lifecycle Management suite to streamline transportation processes for HBC across Canada, as well as for Lord & Taylor across the United States.