Discount Store

Sears Canada Inc. is going all out with its plans for an in-store off-price shop.   The chain will unveil the dedicated shop, called The Cut, this spring, and plans to roll it out to all its 94 stores. The off-price concept launched its own e-commerce website last week.      The Cut will take up from 30,000 sq. ft. to 40,000 sq. ft. inside the stores and will be evenly split between apparel and home offerings, according to Women’s Wear Daily.       

Jeff Gordman, the former CEO of Gordmans, plans to submit a bid for the bankrupt 106-store chain that would rescue it from liquidation. But he isn’t the only interested party.   

Rouse Properties has divested itself of an 821,564 center in Eugene, Oregon, whose tenants include Target, Cinemark, Cabela’s, Kohl’s, Hobby Lobby, and Ulta. The Shoppes at Gateway was purchased by Balboa Retail Partners for an undisclosed amount.   “The Shoppes at Gateway is a thriving shopping center that drew significant investor interest," said JLL EVP Geoff Tranchina, who represented Rouse in the deal. JLL will continue on as the managing agent of the property.  

A 30-year veteran of The Kroger Co. has joined Target Corp. to head up the discounter’s struggling grocery business.    Target has appointed Jeff Burt as senior VP, grocery, fresh food and beverage, effective April 10.   

Target Corp. is bringing its small-format store to the heart of Manhattan.   The discounter plans to open its first location in mid-town Manhattan, a 43,000-sq.-ft. store in Herald Square, just west of the 34th Street and Broadway intersection, and one block from Penn Station — and across the street from the Macy’s flagship.  

An official from the town of North Myrtle Beach in South Carolina is looking forward to more jobs and tourist income from the expansion of a shopping center in the beach resort area.   RealtyLink, a developer of power centers in the Southeast and Midwest, is about halfway done with its phase three expansion of the Coastal North Town Center & Village Shoppes on Highway 17. The 147,000-sq.-ft. addition will take the center size beyond 540,000 sq. ft.  

Walmart continues to grow both its e-commerce and fashion presence.    On Friday, the discounter announced it had acquired the assets and operations of online retailer ModCloth, which specializes in eclectic and quirky apparel and accessories for 18- to 35-year-old women. The company did not reveal the purchase price.  

The chief merchandising officer of Dollar General Corp. is retiring.   The retailer announced that James “Jim” W. Thorpe, executive VP and chief merchandising officer, will retire from Dollar General effective April 15, 2017. Dollar General said it has started a search for a successor and will consider both internal and external candidates for the job.