Discount Store

Montreal - Adverse weather conditions as well as power outages in some of Dollarama’s core markets throughout the month of December 2013 resulted in a significant reduction in store traffic and the temporary closure of approximately 80 stores, for periods ranging from a few hours to two consecutive days. The majority of the impacted days occurred during the two weekends leading up to Dec. 25.

A 20,000-sq.-ft. store called TargetExpress is set to become the newest addition to the retailer’s portfolio of formats when it opens this July in downtown Minneapolis.

In an interview with The New York Times, Target EVP for property development John Griffith said Target signed a lease last week for a space on the ground floor of an apartment building called the Marshall which is under construction near the University of Minnesota campus. The store is scheduled to open July 27.

New York -- Target Corp. has signed a lease to open a 20,000-sq.-ft. location in Minneapolis that will serve as a test of a new format called TargetExpress, the New York Times reported. The new unit, considerably smaller than CityTarget’s 80,000- to 125,000-sq.-ft. footprint, would be the chain’s smallest store to date.

Adverse weather conditions as well as power outages in some of Dollarama’s core markets throughout December 2013 resulted in a significant reduction in store traffic and the temporary closure of approximately 80 stores, for periods ranging from a few hours to two consecutive days. The majority of the impacted days occurred during the two weekends leading up to Dec. 25.

Matthews, N.C. – The board of directors has increased the amount of the regular quarterly dividend payment to $0.31 per share, an increase of 19.2% from the preceding quarterly cash dividend of $0.26 per share. The increase will be effective with the declaration of the next quarterly dividend.

Oakbrook Terrace, Ill. — Inland Real Estate Corp. has acquired the 227,540-sq.-ft. Goldenrod Marketplace in Orlando, Fla., for $20 million. The initial payment will be approximately $16 million, with the balance to be funded based on future tenant occupancy.

Mid-America Real Estate Corporation’s Investment Sales team brokered the sale in cooperation with The Shopping Center Group brokered the sale on behalf of a private development group.

Columbus, Ohio — REI has signed a lease for a 23,000-sq.-ft. space in Sun Center in northwest Columbus, Ohio, according to Casto, Sun Center’s owner.

The space is part of an existing 60,000-sq.-ft. Hhgregg store. Hhgregg is downsizing its offering to 37,000 sq. ft., which is more typical of the Hhgregg’s prototype. Hhgregg will remain open during the redevelopment. REI expects to open in the fall of 2014.

Almost seven-in-10 consumers surveyed expect to make more money, save more money and afford things they need in 2014, according to RetailMeNot’s 2014 Shoppers Trend Forecast.