Discount Store

Camp Hill, Pa. -- Philadelphia-based Pennsylvania Real Estate Investment Trust announced that DSW has opened a 17,500-sq.-ft. store at PREIT’s Capital City Mall property, located in Camp Hill, Pa.

The mall completed the space for DSW — the retailer’s first in the area — by building on an additional 5,000 sq. ft.

Seattle -- Nordstrom announced plans to open a Nordstrom Rack in Louisville, Ky. The 33,000-sq.-ft. store, at Shelbyville Road Plaza, is scheduled to open in fall 2013 and will be the retailer's first location in the state.

Nordstrom is also expanding its presence in Florida. It will open a Nordstrom Rack at the Shoppes at University Town Center to serve customers in the Sarasota-Bradenton metro area. The approximately 35,000-sq.-ft.store is scheduled to open in fall 2013.

MINNEAPOLIS — Supervalu has completed the sale of its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores and related Osco and Sav-on in-store pharmacies to AB Acquisition LLC, an affiliate of a Cerberus Capital Management-led investor consortium, in a stock deal valued at $3.3 billion, including $100 million in cash and $3.2 billion in debt assumption. 

Dayton, Ohio -- Walmart holds on to the top spot in the annual ranking of the 50 most valuable U.S. retail brands from branding consultancy firm Interbrand. The discounter’s brand value is put at $141 billion (up 1% from the 2012 report.). By comparison, the second-highest ranked U.S. brand, Target Corp., has a value of $25 billion. The Home Depot is solid at number three, with a brand value of nearly $23 billion.

New York -- Supervalu on Thursday announced the completion of the sale of its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores and related Osco and Sav-on in-store pharmacies to AB Acquisition LLC, an affiliate of a Cerberus Capital Management-led investor consortium. The stock deal is valued at $3.3 billion, including $100 million in cash and $3.2 billion in debt assumption.

Pleasanton, Calif. -- Ross Stores Inc. said Thursday its fourth-quarter net income rose 23%, in line with analysts’ projections. The off-price retailer also announced that beginning with the second quarter of fiscal 2013 it will no longer report monthly sales. Instead, quarterly same-store store sales results will be provided with regularly scheduled earnings releases.
 

Off price retailer Ross Stores achieved record fourth quarter sales and earnings and expects to deliver more of the same in 2013 thanks to an unwavering commitment to offering great bargains.

Sales for the 14 week fourth quarter ended February 2, increased 15% to $2.76 billion when compared to the prior year’s 13 week fourth quarter. Same store sales advanced 5% on top of a prior year gain of 7%. Earnings per share for the period increased to $1.07 from 85 cents last year and net income grew to $236.6 million from $192 million.

NEW YORK — Online retailer NoMoreRack has announced its plans to expand their business and online presence. NoMoreRack has received $12 million in new capital. They plan to use this investment money to increase their workforce and expand into foreign markets.