Discount Store

Long Beach, Calif. -- Nordstrom announced plans to close its Long Beach City Place Nordstrom Rack store in Long Beach, Calif. Originally opened in August 2002, the 33,000-sq.-ft. store will close to the public in late January 2014.

The company will continue to serve customers at three nearby Nordstrom Rack locations in Lakewood, South Bay and Edinger.

New York -- Gilt, the popular online retailer of  discounted high-end designer apparel and accessories, will open its first-ever brick-and-mortar location, a pop-up store in Shelbyville Road Plaza, Louisville, Ky.    
 
“GLI welcomes the first Gilt.com Designer Outlet to the Louisville business community,” said Greater Louisville Inc. CEO and president Craig J. Richard in a press release issued by the online retailer. “The exciting new concept store is a unique addition to our local retail market.”

Toronto -- Canada’s second-biggest supermarket operator has acquired Safeway’s Canadian portfolio of stores in a $5.7 billion deal that pulls the Pleasanton, Calif., chain completely out of the country.

Sobeys, a unit of Empire Co. Lt., has acquired 213 grocery stores, 62 fuel stations, 10 liquor stores, 12 manufacturing facilities and four DCs, leaving Safeway with 1,400 stores in the U.S. after the deal.

Fremont, Calif. -- The Men's Wearhouse Inc. reported Wednesday that net income for the first quarter rose 23% to $33.1 million, from $26.9 million last year.  

Sales for the company that runs Men’s Wearhouse namesake stores, along with the Moores and K&G chains, increased 5.1% to $616.5 million, beating Wall Street’s expected $604.7 million in revenue. Same-store sales rose 7.1% at namesake stores, but slid 5.3% at K&G.

 

Philadelphia -- Five Below Inc. reported Wednesday a profit of $1.6 million, compared with a loss of $1.2 million in the year-ago period.

The discount retailer saw sales during the quarter rise 33% to $95.6 million from $71.8 million, meeting internal expectations but beating Wall Street’s forecasted $93.9 million in revenue. Same-store sales advanced 4.2%.

According to president and CEO Thomas Vellios, Five Below will open another 60 stores by the end of 2013.

 

Green Bay, Wis. – Shopko intends to open five  stores under its Shopko Hometown banner in Afton, Wyo., St. Peter, Minn., and Winneconne, Ellsworth and Tomahawk, Wis., in late fall of this year.

The Shopko Hometown format is designed to serve smaller rural communities with the same product assortments available in larger areas and Shopko currently operates more than 180 stores in this format.

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Purchase, N.Y. -- Old Colony Square Center in Jersey City, N.J., will look like new by the end of the year. Owner National Realty & Development Corp. will begin renovations to the Pathmark-anchored center this summer.