Department Store

Minneapolis – Target Corp. saw dramatic year-over-year declines in its net earnings for the fourth quarter and fiscal year 2013, as the negative impact of its massive data breach and damages from its Canadian operations took effect. The chain warned that continuing costs related to the breach may affect its profits in the first quarter of fiscal 2014.

Fort Worth, Texas — Trademark Property Co. has announced multi-year leases for seven new tenants soon to open in Alliance Town Center in North Fort Worth, Texas.

New York – Macy's Inc.'s fourth-quarter profit increased 11%, but the chain’s sales missed forecasts as ongoing winter storms caused a sales slump in January. The company also announced plans for new Macy’s stores in Sarasota, Fla.; Las Vegas; and The Bronx, N.Y., in fiscal 2014. A new Bloomingdale’s will open in Palo Alto, Calif., to replace an older store in the same shopping center.

If you can’t beat them …. Four major mall owners – Westfield, Simon, GGP and Macerich – have pitched in $4.5 million to help fund a delivery start-up business that promises same-day purchases delivery to mall shoppers.

According to a recent article in the Silicon Valley Business Journal, Palo Alto-based Deliv will use the funding garnered from the mall owners and others to improve its software and expand into additional shopping centers.

Since Office Depot completed its merger transaction with OfficeMax Nov. 5, 2013, the company has been aggressively executing its integration plan. The company’s fourth quarter results for the period ended Dec. 28, 2013 include OfficeMax’s operations, which generated $939 million of sales.

Jacksonville, Fla. -- Stein Mart plans to open 10 new stores this year as part of the company's largest store expansion since 2007.

The expansions begin with new locations in the Miami, Washington, D.C., and Las Vegas areas set to open this spring. This year's new store openings will bring the company's total nationwide store count to more than 270.

The announcement of this expansion follows the company's fiscal 2013 same-store sales growth of 3.7%.

Stein Mart plans to open 10 new stores this year as part of its largest store expansion since 2007.

Locations in the Miami, Washington, D.C., and Las Vegas areas are set to open this spring, bringing the company's total nationwide store count to more than 270.

Longmont, Colo. — NewMark Merrill Mountain States has taken possession of the Dillard’s building at the former Twin Peaks Mall, a key step in the redevelopment of the center as the Village at the Peaks shopping center.

Demolition of the old Twin Peaks Mall is set to begin early in the summer of 2014, paving the way for the new shopping destination, Village at the Peaks, to open in 2015.