Discount Store

Westmont, Ill. — Tri-Land Properties has announced that it expects to complete a $21 million renovation of its 20-acre Fridley Market community center by September. Fridley Market is located at the intersection of I-694 and University Avenue, the main north/south spine through Minneapolis-St. Paul.

The renovation of the 165,000-sq.-ft. center includes building, infrastructure, lighting and pavement improvements as well as new construction.

New York -- Francesca’s, Maurices and tween/teen fave Five Below are in an expansion mode.

Francesca’s, based in Houston, will open about 85 stores this year, down slightly from 91 openings last year.   

Memphis, Tenn. – Fred’s Inc. reported a substantial 34.5% decrease in its net income during the fourth quarter of fiscal 2013, to $5.56 million from $8.49 million in the same quarter a year earlier. Net sales declined 7.2% to $495 million from $533.4 million, and same-store sales grew 0.1%.

Woodbridge, Va. — Potomac Mills, the largest outlet and value retail shopping destination in the Washington, D.C., area has appointed Sam Hosn as its new general manager. Paul Fickinger, executive VP of property management for The Mills, a Simon Company, made the announcement.

As general manager, Hosn will manage the day-to-day operations of Potomac Mills including leasing, contract negotiations, staff supervision, office management, budgeting, tenant relations and marketing.

New York -- Swedish fast-fashion retailer H&M said on Thursday it will debut two of its newer retail formats, COS and & Other Stories, in the United States this year.

H&M will open its first COS U.S. location this April in New York City’s SoHo area. A second U.S. store will open later this year, in Beverly Hills, Calif.

The retailer’s & Other Stories banner will make its U.S. debut this fall, opening a store in downtown Manhattan.

Tempe, Ariz. — DSW, Nordstrom Rack and Total Wine & More have leased space at the 1.3 million-sq.-ft. Tempe Marketplace in Tempe, Ariz.

DSW will open a 20,000-sq.-ft. store in mid April. Nordstrom Rack plans to open a 35,000-sq.-ft. store in October. Total Wine & More, the largest independent fine wine retailer in the country, will occupy 20,000 sq. ft. and plans to open in October.

Vestar developed and owns Tempe Marketplace.
 

Duluth, Minn. -- Ascena Retail Group, parent to the Maurices, DressBarn and Lane Bryant banners, announced the 900th Maurices store opening. The Fresno, Calif., store will officially open later this month, joining 899 other stores in the U.S. and Canada.

Maurices will open 60 new stores by the end of its fiscal year in July 2014. In addition to new store openings, Maurices is remodeling or expanding 80 stores this year.  

The company's long-term goal is to reach over 1,200 stores domestically and 100 stores in Canada.

Omaha, Neb. -- Gordmans Stores announced that its president and CEO, Jeff Gordman, has given his resignation to the board. The retailer said that Gorman is retiring to spend more time with his family and pursue outside interests.

T. Scott King, the current chairman of Gordmans’ board, will serve as interim CEO while a search is conducted for a permanent successor to Gordman. King will take an unpaid leave of absence from his position as senior managing director at Sun Capital Partners while he serves in the interim position.