Discount Store

The off-price wars are heating up in New York City.

Saks Fifth Avenue will open its first Saks Off 5th outlet in New York City, in a 32-story office tower at 125 East 57th Street, in March 2016. The store will feature a lobby entrance at street level, which will access two lower level floors.

“The addition of a new Saks Off 5th store at this strategic location will be a dramatic game changer for 57th Street retail east of Park Avenue,” said Charles S. Cohen, president and CEO of Cohen Brothers Realty Corp., which owns the property.

Dollar General is looking to help its customers stretch their budget this holiday season with an updated assortment of toys, as well as digital coupons, hot deals and low prices online and in-store.

TJX shows no signs of losing its popular appeal with shoppers as the company reported stronger than expected traffic and same-store sales in the third quarter.

For the third quarter ended Oct. 31, same store sales at TJX Companies rose 5.3%. The company said net income fell to $587.3 million, from $595 million a year earlier. On a per share basis, net income rose to 86 cents per share from 85 cents, as the company had fewer shares outstanding. Revenue rose to $7.75 billion from $7.37 billion.

Despite weak overall sales growth and an expected decline in third quarter profits, Walmart’s third quarter results offered reasons for the company to be optimistic and for competitors to be concerned.

Dollar General is taking another step forward in its plans to expand its square footage by 7% in 2016.

Macerich announces the recent arrival of several retailers to Fashion Outlets of Niagara Falls located in Niagara Falls, New York. New brands include Victoria’s Secret, Kipling, Columbia Sportswear, Mountain Warehouse and Calvin Klein Underwear.

Niagara Falls recent expansion brings the property size to more than 700,000 sq. ft. with a total of 200 stores and 1,100 additional parking spaces near Saks Fifth Avenue OFF 5TH – making Fashion Outlets of Niagara Falls one of the largest outlet malls in the country.

Popularity and resale value do not always correlate when it comes to gift cards.

Visa is tops in a ranking of the gift cards expected to be most popular this holiday season.

Rounding out the top 10: American Express; iTunes; Wal-Mart; Target; Starbucks; Netflix; eBay and Google Play. The ranking is from CardHub, a credit card comparison Web site owned by Evolution Finance.

Livonia, Mich. -- Schostak Brothers & Company announced Steve Black will join its team as acquisitions manager. Black will source, analyze and acquire investment properties for the company’s portfolio, with a focus on growing its Supercenter Walmart shadow anchor footprint.