Department Store

Paducah, Ky. -- Youngstown, Ohio-based Cafaro Co. announced that its Kentucky Oaks Mall property, located in Paducah, Ky., will under a major renovation.

According to Cafaro, the rehab is the most significant in the mall’s 28-year history, involving both interior and exterior transformations. When complete, the mall will feature newly designed entrances, concourse skylights, new ceiling treatments, energy-efficient lighting, as well as new flooring treatments and soft-seating areas.

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 -- Best Buy Co.’s December same-store sales fell 4% as softness continued in its sales of televisions and entertainment software.

The retailer, which also reaffirmed its 2011 profit outlook, said on Friday that same-store sales in its domestic segment fell 5% and 0.1% internationally.

Overall sales in the month slipped 1.6% to $8.4 billion.

NEW YORK -- On the heels of a strong November, some department store retailers reported surprisingly weak December revenue. Results were impacted by a blizzard in the Northeast, which took a bite out of sales after Christmas.

The results raised some worries that the holiday season might be less stellar than some had hoped. Still, much of Wall Street still predicts that November and December spending will show the largest annual increase since 2006.

New York City -- On the heels of a strong November, some department store retailers reported surprisingly weak December revenue. Results were impacted by a blizzard in the Northeast, which took a bite out of sales after Christmas.

The results raised some worries that the holiday season might be less stellar than some had hoped. Still, much of Wall Street still predicts that November and December spending will show the largest annual increase since 2006.

Columbus, Ohio -- Retail same-store sales eased to 3.2% growth in December in the wake of November’s exceptionally strong promotional activity and an ongoing shift toward online shopping, according to Kantar Retail. The sales-weighted composite for the 31 retailers reporting -- most of them apparel retailers -- was weaker than the 5.6% same-store sales gain last month, but slightly better than the 3.0% gain in December of 2009. (The calculations no longer include Walmart, which stopped reporting monthly results in 2009. )

TJX reported same-store sales of 2% December, beating Wall Street estimates for a 2.5% decline. Total sales rose 6% to $3 billion.

"I am extremely pleased with December's sales results, as we significantly exceeded our plans during this important period," TJX CEO Carol Meyrowitz, CEO, TJX.

New York City -- After coming off a strong November, retailers found their momentum waned in December, with many turning in mixed sales for the month. Industry experts said sales were impacted by a still-cautious consumer and the blizzard the crippled the Northeast in the days immediately following Christmas.

Thomson Reuters, which tracks same-store sales for a group of 28 national chains, said total sales for the group were expected to post a 3.4% increase in same-store sales for December, following a 5.6% bump in November.