Discount Store

Senior executives from Tuesday Morning, Bridgestone and PetSmart are among those headlining a retail conference organized by the Center for Retailing Studies at Texas A&M University’s Mays Business School.

Mid-America Real Estate Corp.’s investment sales team recently brokered the sale of Oak Brook Court. Tampa, Florida-based Third Lake Capital acquired the 103,836-sq.-ft. property for $19.95 million. Oak

Brook Court is located at the northeast corner of Kingery Highway (Illinois Route 83) and 16th Street in Oak Brook Illinois, part of the Chicago metropolitan statistical area. The center is anchored by Binny’s Beverage Depot, Office Max and The Great Escape.

Leading single price point retailer 99 Cents Only has secured a major amendment and extension of its credit facility until 2021.

The operator of 391 stores, 283 of which are located in California, announced it successfully completed an amendment and extension of its asset-based revolving credit facility providing commitment of up to $160 million and extending the maturity date by five years to April 8, 2021.

The outdoor apparel retailer plans to open a flagship on Fifth Avenue, in the space formerly occupied by Canadian fast-fashion merchant Joe Fresh, the Real Deal reported.

The retailer signed an eight-year sublease from Joe Fresh for approximately 20,000 sq.ft. at Vornado Realty Trust’s landmarked building at 510 Fifth Avenue, according to the report. The space includes three levels of retail.

The North Face is also looking for a larger space in Manhattan’s SoHo area, the report said.

Brian Monahan, VP of marketing for Walmart.com, has left the chain (as of April 1) to go back to a startup he helped found in 2012.

Monahan, who joined Walmart in May 2013, is now serving as chief evangelist of San Francisco-based NewCo Festivals, a media and events platform he co-founded with John Battelle in 2012. NewCo hosts global events it calls “festivals” for start-ups and also publishes editorial content aimed at start-ups. In his new (or old) role, he will oversee brand strategy, sales and marketing, and product development.

Many retailers are adding restaurants and even bars to enhance the shopping experience. Going forward, Kohl’s will not be one of them.

After a seven-month test, the retailer has decided to shutter the cafes it opened in its two of its stores in Wisconsin, the Milwaukee Business Journal reported.

Aldi is expanding its fledgling footprint in Southern California.

On Thursday, April 21, the grocer will open six stores in Los Angeles County, three in Orange County and one store in San Bernardino County.

The April openings are part of Aldi’s plan to open approximately 45 stores in Southern California by the end of 2016, eight of which opened last month.

Currently, Aldi operates nearly 1,500 U.S. stores in 33 states.

The sporting goods industry could be facing another major retail bankruptcy filing.

Vestis Retail Group, parent company of Eastern Mountain Sports, Sport Chalet and Bob’s Stores is preparing to file for Chapter 11 protection, according to Bloomberg.

Vestis Retail Group, which is owned by private equity firm Versa Capital Management LLC, could file as soon as next week, the report said.