Discount Store

Batavia, Ill. -- Comedian Ben Bailey is doing his thing in an Aldi supermarket as opposed to his usual taxi cab.

Aldi, the fast-growing deep-discount supermarket chain, has teamed up with Ben Bailey, best known as host of the former TV series "Cash Cab,” in an online video series. Described as equal parts education and entertainment, the series is designed to help introduce Aldi to new customers across the United States and in Southern California specifically, where it is planning to open approximately 45 new stores in 2016.

The private equity firms that paid a premium to take Michaels private nearly a decade ago continue to gradually unwind their majority position in the nation’s largest arts and crafts retailer.

New York -- J.Crew Group, a company struggling to regain its mojo, is jumping into the value category.

The company announced it will launch a new store banner, J.Crew Mercantile, selling lower-priced (“value-driven”) merchandise with classic J. Crew styles for women, men and children. The first J.Crew Mercantile store will open in late July, at The Shops at Park Lane in Dallas. The retailer plans to open more Mercantile stores in strip centers and some malls, Bloomberg reported.

International wholesale club PriceSmart keeps attracting shoppers to its stores, as the retailer reported an increase in same store sales for the third quarter.

Irving, Texas – Some stockholders of The Michaels Companies Inc. intend sell 12.5 million shares of Michaels common stock. The selling Stockholders will receive all of the net proceeds from this offering.

No shares are being sold by the company. Goldman, Sachs & Co. will act as underwriter for the offering.
 

New York -- Although the list of retailers reporting monthly sales has grown considerably slim over the past few years, a handful are still going public with the metric.

Costco Wholesale Corp. announced on Thursday that its same-store sales fell 1% in June, following a 1% drop in its most recent quarter (ended May 1), which was the chain’s first quarterly drop since 2009.

Phoenix -- DTZ, a leader in commercial real estate services, announced that a limited partnership formed by Weingarten Realty Investors of Houston acquired The Summit at Scottsdale, a 190,408-sq.-ft. retail center anchored by Safeway and Target, for $54.1 million.

Donahue Schriber Realty Group, L.P., of Costa Mesa, California, was the seller of the property located on the southeast corner of Scottsdale Road and Ashler Hills Drive in Scottsdale, Arizona.

New York – Retailers are continuing to cut ties with real estate developer and Republican presidential primary candidate Donald Trump in the wake of his recent disparaging comments about Mexican immigrants.

Following in the footsteps of Macy’s, off-price retailers T.J. Maxx and Marshalls have said they will no longer sell branded Trump apparel and accessories. And that’s not the end of it.