Discount Store

Demand for shares of Ollie’s Bargain Outlet is such that the retailer has increased the size of a secondary offering.

Demand for shares of Ollie’s Bargain Outlet is such that the retailer has increased the size of a secondary offering.

Oklahoma City -- GBT Realty Corp. announced the acquisition of 30 acres in Oklahoma City, Oklahoma. The site was purchased in January for $2.95 million. The company broke ground on development of the first phase of the $50 million The Market at Czech Hall, a 450,000-sq. ft. regional neighborhood center last week.

Phase one includes the construction of 180,000-sq. ft. of retail, along with seven outparcels. The first tenant expected to open fall 2016.

Increased expenses and shrinking margins hurt Nordstrom profitability in the fourth quarter, but the leading department store and off-price retailer delivered on the e-commerce front.

Nordstrom said sales for the fourth quarter increased 5.2% to $4.1 billion and same store sales increased 1%. The company’s full price stores and Nordstrom.com grew sales 0.7% and same stores sales increased 0.2%. However, the growth was largely driven by Nordstrom.com sales which increased 11% and offset a 3.2% decline at physical stores.

DSW is expanding its e-commerce capabilities with a deal to acquire Ebuys Inc., an online off-price footwear retailer with a presence in North America, Europe, Australia and Asia.

DSW announced that the purchase price includes an upfront payment of $62.5 million as well as future payments contingent on the performance of Ebuys, Inc. The deal is expected to close within the next 30 days.

Move over Big Lots and Ollie’s Bargain Outlet. Kmart is ready to begin making opportunistic purchases of closeouts and liquidated good in keeping with its strategic vision to make shopping fun again.

Kmart said its strategic merchandising group is actively sourcing extreme-value deals by purchasing the inventory of liquidated companies and capitalizing on other opportunistic situations to obtain outstanding products and offer unbeatable value.

The majority owner of Ollie’s Bargain Outlet is looking to reduce its stake in the company following a holiday season sales performance CEO Mark Butler characterized as thrilling.

Whole Foods Market’s 365 store concept is the first anchor to be announced for Butler Town Center, in Gainesville, Florida. It is also the first 365 location to be announced for the state of Florida.