Discount Store

From loading trucks at the age of 17, to meeting his wife on the Bentonville square to becoming an assistant buyer and interacting with founder Sam Walton, Walmart’s new CEO Doug McMillon is sharing details about his journey to becoming the company’s youngest CEO.
 

Charlotte, N.C. – Family Dollar Stores Inc. has renewed its in-store merchandising services contract with SPAR Group Inc. for two years. SPAR Group has been servicing Family Dollar Stores since 2012 across more than 8,000 locations.

SPAR Group has completed various merchandising service programs including schematic resets, revisions, item cut-ins, returns, audits and recalls across nearly all categories including grocery, pet, party, household & chemical and paper goods.

Continued positive sales momentum in its business and an increase in foot traffic increase at its stores fueled 99 Cents Only Stores’ third-quarter results.

The company's net sales increased 11% to $487.9 million from $439.5 million for the prior-year quarter. Same-store sales increased 3%.  

New York -- Retail and consumer (R&C) total transaction value in the United States for 2013 surpassed $100 billion for the first time since 2008, according to PwC’s US retail and consumer deals insights 2013 Year in Review and 2014 Outlook report. Deals in the food and beverage sector and private equity (PE) investment in the apparel, footwear and accessories sector continued to drive activity in the R&C industry.

A little more than a month into his new job as chief merchandising officer at Family Dollar, Jason Reiser is refocusing the retailer on its discount store roots and what it means to serve cash-strapped shoppers.

Indianapolis — Simon Property Group has received zoning approval from the Montgomery County Council in Maryland by unanimous vote for the development of Clarksburg Premium Outlets at Cabin Branch.

Simon Property Group, New England Development and Streetscape Partners make up the development team for the project, which will add 1,500 jobs and more than $150 million in private investment to the local economy. The development team is planning to open Clarksburg Premium Outlets by late 2015.

New York -- Private equity firm KKR & Co. will acquire National Vision Inc. from Berkshire Partners.

National Vision, which focuses on low-cost glasses and contacts, operates more than 750 retail locations under names that include America's Best Contacts & Eyeglasses and Eyeglass World. It also has stores inside Wal-Mart Stores Inc, Fred Meyer, and military bases.

Terms of the deal were not disclosed. The management team of National Vision is expected to remain a significant investor in the company, KKR said.

Portland, Ore. — Cypress Equities, the management company for Lloyd Center in Portland, Ore., has announced that the Center’s owners intend to purchase the 130,000-sq.-ft. building currently owned and occupied by Nordstrom. The acquisition is part of the center’s recently announced renovation plans.

Plans call for the building to change hands in January of 2015. Nordstrom has notified its employees that the store will close.