Discount Store

Memphis -- Fred's Inc. said Thursday that profit for the quarter ended May 4 rose 9% to $11.4 million, from $10.5 million last year. Results topped Wall Street forecasts.

Revenue edged up to $501.5 million from $500.5 million, beating analysts’ estimated $499.5 million in revenue. Same-store sales dipped 1.3%.

 

Albany, Ore. -- Vintage Real Estate said that it has signed a lease with Hobby Lobby for a 61,000-sq.-ft. store at the Heritage Mall, marking the arts-and-crafts retailer’s first location in Oregon.

Hobby Lobby will be located in a former Gottschalks space.  It is expected to open in the first quarter of 2014. “Our ability to quickly fill this long-vacant space is a major step in the execution of our renovation and repositioning plans for Heritage Mall,” said general manager Betsy Penson.

Abilene, Kan. -- Alco Stores said Thursday that it has promoted Ricardo Clemente to senior VP, human resources, store operations and loss prevention.

Clemente joined the chain in 2011 as a district manager, most recently serving as VP stores and human resources.

Queens, N.Y. -- Onex Real Estate Partners announced its latest lease deal for The Shops at Sky View Center, as fashion boutique Limited Editions For Her will open a 4,000-sq.-ft. store at the Flushing, Queens center.

The store will be located across from Old Navy on Level D and is slated to open in June. “Obtaining a retail space at The Shops at SkyView Center is the perfect vehicle for Limited Editions For Her to continue its New York expansion and broaden its customer base,” said Brad Guth, VP retail for Limited Editions For Her.

Queens, N.Y. -- South Korean skin care brand Amore has opened a 1,600-sq.-ft. store at The Shops at SkyView Center. The new store, which grand-opened on May 24, is located on Level B and joins Restoration Hardware Outlet, Target, Carter’s, BJ’s Wholesale Club, Marshall’s, Old Navy, Bed Bath & Beyond and Best Buy, among others.

Bentonville, Ark. – Wal-Mart has launched an initiative to hire any honorably discharged US military veteran within the first 12 months after they have been on active duty. Through a program dubbed Veterans Welcome Home Commitment, Wal-Mart anticipates hiring more than 100,000 veterans by 2018.

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