Discount Store

Erie, Pa. — Zoom Tan has leased a 1,559-sq.-ft. space for a tanning parlor at Liberty Center II in Erie, Pa., according to Levin Management. Flaum Management Co. Inc. represented the tenant in the transaction.

The 7,443-sq.-ft. Liberty Center II is directly across the street from the 227,000-sq.-ft. Liberty Center, which is anchored by Top’s Markets and Peebles department store.

Boston -- Although Target has narrowed Walmart’s basket advantage, the world’s largest retailer continues to demonstrate its price advantage, according to Kantar Retail’s semi-annual pricing study.

With an overall branded basket 2.4% less expensive than Target’s, Walmart’s overall price gap has still remained within a few percentage points of Target’s, although its lead has narrowed since the last iteration of the study. Importantly, Target’s edible basket was within cents of Walmart’s.

New York -- Starwood Capital Group LLC, the investment firm headed by real estate developer Barry Sternlicht, has joined the bidding for Saks Inc., according to a report by the New York Post. Starwood Capital invests in retail, office and residential real estate.

The bid by Starwood is worth about $2.5 billion, or $17-$18 per share, according to the report. The amount is roughly equal to a previously existing bid from Canadian retail conglomerate Hudson’s Bay, which also owns the Lord & Taylor department store chain.

Columbus, Ohio — Glimcher Realty Trust has released the tenant list for The Outlet Collection | Seattle, which is nearing completion of a major, $35 million renovation. The renovation is transforming the center into a designer fashion outlet mall.

The tenant list includes several retailers new to center. They are Coach, Nike, Michael Kors, J. Crew, Brooks Brothers, Loft Outlet, H&M and Sketchers.

Washington, D.C. – Compared to a record-breaking back-to-school shopping season in 2012, this year’s back-to-school season will not be as impressive. New figures from the NRF and Prosper Insights show that families with school-age children will spend an average $634.78 on apparel, shoes, supplies and electronics, down about 8% from $688.62 last year. Total spending on back-to-school is expected to reach $26.7 billion.

City of Commerce, Calif. – 99 Cents Only Stores is opening new stores in Santa Fe Springs, Calif. and Kingman, Ariz. on July 25. Both will be the first 99 Cents Only stores in those municipalities.

The retailer will be offering special 99-cent deals on items such as flat-screen TVs and scooters to the first customers in line on opening day.

NEW YORK — The average household is expected to spend about $285 on back-to-school items this year, with 39% of consumers planning to spend more than last year and 45% planning to spend about the same. 

According to a new study from the International Council of Shopping Centers and Goldman-Sachs, 29% of households surveyed have started to shop for back-to-school items, which is lower than the 33% that had started at this time last year but more than in any other year since 2004.

Average spending per school age child is expected to decline this year from 2012 levels, according to the National Retail Federation, setting the stage for heightened competition in an already intensely competitive seasonal selling period.

NRF said spending per child in grades K-12 would decline to $634 in 2013 compared to $688 last year and spending per college student would decline to $836 from $907. The trade group forecast total K-12 spending of $26.7 billion and total back-to-college spending of $45.8 billion for a combined market size of $72.5 billion.