Discount Store

Brixmor Property Group has purchased Arborland Center, a 404,000-sq.-ft. center in Ann Arbor, Michigan, for $102 million. The center is anchored by Kroger and Nordstrom Rack and is situated between the University of Michigan and Eastern Michigan University.  

No retailer is immune to theft — even discounters.   That’s why Dollar General has completed a speedy installation of an electronic article surveillance (EAS) solution from Checkpoint Systems chainwide.    The discounter began its journey by testing EAS pedestals and deactivation systems in a limited number of stores to determine the benefits of how visible EAS tagging deters shoplifting and protects high-theft inventory.   

Decron Properties’ sale of a Target-anchored center in Las Vegas was its sixth disposition of an office or retail asset in the last two years as it continues to focus on multi-family housing projects.   The $17.5 million sale of the Flamingo Maryland center near the Las Vegas Strip added to a bank of $300 million in proceeds realized from the deals that the Los Angeles based company put toward the purchase of seven multifamily communities in California.  

Changing consumer needs and an evolving retail marketplace contributed the U.S. apparel industry’s overall sales performance in 2016.   Specifically, apparel dollar sales across women, men, and children grew by 3% last year, reaching $218.7 billion, according to the NPD Group.   

Ross Stores continues to maintain an aggressive store expansion strategy.   The retailer recently opened 23 Ross Dress for Less stores and five dd's Discounts stores across 15 different states in February and March. The new locations are part of the company's plans to add approximately 70 Ross stores and 20 dd's locations during 2017.  

A value-oriented regional department store chain could be the latest retail casualty.   Gordmans Stores Inc. is preparing to file for bankruptcy, Bloomberg reported, saying the filing could occur as soon as this month.    Founded in 1915, the Omaha-based retailer operates 106 stores in 22 states.  

Aldi is ready to introduce its brand to price-sensitive Chinese shoppers.   The German discount supermarket chain plans to start selling online in China this month, a move that will expose Chinese consumers to a selection of German wine, snacks and breakfast products, Reuters reported.    

Big Lots on Friday posted an unexpected decline in total revenue in its fourth quarter as a reduced store count cut into its sales. But the chain’s earnings topped the Street.      The close-out retailer also boosted its dividend and initiated a new share buyback program.