Discount Store

The weather posed a significant challenge for Fred’s in January. According to CEO Bruce A. Efird, Mother Nature not only disrupted consumer shopping patterns, but also resulted in more than 120 store closings during the final week of the month.

“Prior to the last week of January, sales were running in the mid-range of our forecast, with reconfiguration departments leading the way,” Efird explained.

Fred's total sales for January were $134.8 million compared with $173.5 million for the five-week year-earlier period.

New York -- Snowstorms and bitterly cold weather took a bite out of sales for some retailers in January. One of the retailers feeling the chill was Fred’s, which posted a 1.8% decline in January same-store sales.

"The weather was a significant challenge for us in January," said CEO Bruce Efird, who added that it disrupted shopping patterns, but also resulted in “more than 120 store closings during the final week of the month."

Retail industry sales (which exclude automobiles, gas stations, and restaurants) will increase 4.1% in 2014, up from the preliminary 3.7% growth seen in 2013, according to the National Retail Federation. The association’s 2014 economic forecast calls for online sales to grow between 9% and 12%.

A number of factors contributed to NRF’s 2014 economic forecast, including:

City of Commerce, Calif. – 99 Cents Only Stores is opening three new stores on Thursday, Feb. 13. The stores are located in Scottsdale, Ariz., Carson, Calif., and Humble, Texas.

The Scottsdale store is approximately 14,000 sq. ft., the Carson store is approximately 17,000 sq. ft. and the Humble store is approximately 12,000 sq. ft. All three will feature a perishable food department, including produce, dairy and frozen foods.

New York -- Seattle-based Nordstrom plans to open a Nordstrom Rack at Christiana Fashion Center in Newark, Del. The approximately 35,000-sq.-ft. store, which is scheduled to open in fall 2015, is the company’s first Rack location in the state.

The single-level, newly built Nordstrom Rack is located at the intersection of Interstate 95 and Route 1, adjacent to Christiana Mall and will be surrounded by a strong tenant mix.

Seattle-based Nordstrom plans to open a Nordstrom Rack at Christiana Fashion Center in Newark, Del. The approximately 35,000-sq.-ft. store, which is scheduled to open in fall 2015, is the company’s first Rack location in the state.

The single-level, newly built Nordstrom Rack is located at the intersection of Interstate 95 and Route 1, adjacent to Christiana Mall and will be surrounded by a strong tenant mix.

Philadelphia -- Five Below will enter the state of Tennessee, with plans to open up to five new stores in the market by spring of this year. With this new market, Five Below will operate stores in 20 states.

As part of its 2014 expansion plans, teen and tween retailer Five Below has its eye set on the Tennessee market and will be opening five new stores there by spring.