Discount Store

New York - Saks Fifth Avenue Off 5th plans to open a new store in spring 2016 at Gateway Shopping Centers in Austin, Texas. The new 50,000-sq.-ft. store will be fashioned in an open, modular layout, and feature a unique and unparalleled selection of designer finds for both men and women.

Consumers may be shying away from department stores but they are still flocking to off-price retailers such as TJX, which posted impressive sales and revenue growth in the second quarter.

Framingham, Mass. – The TJX Companies Inc. showed value to its investors in a strong second quarter of fiscal 2016 where it beat Wall street expectations for both profit and sales. The elimination of a debt extinguishment loss and lower interest expenses helped push net income up 6% to $549.33 million, from $517.62 million the same period the prior fiscal year.

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For many, the concept of an outlet mall is associated with not only appealing deals on name-brand products, but also with driving long distances to get to the far-flung locations where outlets have traditionally been located.
 

Chicago -- Transwestern’s Chicago office announced it brokered the sale of Town Square of Schaumburg, a 96,014 sq. ft. retail center, in Schaumburg, Illinois, for an undisclosed amount to Tony’s Finer Foods. Tony’s Finer Foods plans to open a Tony’s in the former Dominick’s space, which closed in December 2013.

The CEO of Party City said the earlier Easter holiday hurt its second quarter traffic as the retailer reported a loss.

In the second quarter ended June 30, the party supply retailer said same-store sales rose 1.2%, shy of analysts' forecasts for growth of 2.8%. The company also posted a loss of $23 million, or 20 cents a share, compared with a profit of $2.5 million a year earlier. Overall, sales rose nearly 1% to $495.5 million in the quarter. 

New York -- A report suggests that U.S. consumers aren’t letting the summer doldrums or world unrest get in the way of shopping — although not all retailers are benefiting.

Retail sales rose 0.6% in July month, according to the U.S. Commerce Department. Excluding sales of automobiles, sales were up 0.4%. Eleven of 13 major categories showed increases.

The Commerce Department also revised June's 0.3% decline in retail sales to an unchanged reading.