Discount Store

GOODLETTSVILLE, Tenn. — Dollar General has elected Sandy Cochran, president and CEO of Cracker Barrel Old Country Store, to its board of directors, effective December 5.

“We are excited to add Sandy to the Dollar General board of directors,” said Rick Dreiling, Dollar General’s chairman and CEO. “Sandy’s extensive experience and perspective will provide us with valuable insights as we continue to grow our business. Her expertise will complement our board as we strive to build shareholder value.”

Indianapolis -- Simon Property Group said Wednesday it has acquired Paragon Outlets Grand Prairie in Grand Prairie, Texas, and Paragon Outlets Livermore Valley in Livermore, Calif.

Simon now owns 100% of each asset.

The 417,000-sq.-ft. Grand Prairie center is tenanted by Saks Fifth Avenue Off 5th, Bloomingdale's The Outlet Store, Coach, Cole Haan, DKNY, Hugo Boss, Kate Spade New York, J.Crew, Michael Kors, Nike and Tommy Hilfiger. The center opened in August 2012 and is 100% leased.

Time is running out to submit entries in the 31st annual Chain Store Age Retail Store of the Year Design Competition.

Naples, Fla. -- New York City-based Brixmor Property Group has announced the Dec. 6 grand re-opening of its redevelopment of Naples Plaza, one of the oldest shopping centers in Naples, Fla.

The addition of 27 new stores wasn’t enough to prevent Big Lots from reporting a 1.9% sales decline during the quarter ended October 27.

Columbus, Ohio -- Big Lots Inc. reported Tuesday a loss of $6 million for the third quarter, compared with net income of $4.2 million in the year-ago period. Results, however, topped analysts’ earnings expectations.

Revenue slipped 0.4% to $1.13 billion, missing Wall Street’s forecast of $1.3 billion.

The retailer also announced that its CEO Steven Fishman will retire as chairman and CEO after 40 years in retail. Big Lots has launched a search for his successor; Fishman will stay until a new CEO is appointed.

Chicago -- Store opening plans for 2013 are at a four-year high even as positive retail trends tempered with uncertain fiscal policies signal a cautious start to the new year, according to a report released Monday by Jones Lang LaSalle.

According to Jones Lang LaSalle’s 2013 National Retail Real Estate Outlook, retailers will open as many as 78,325 stores in the next two years – up 11% from year-end plans in 2011. Construction will add 52 million sq. ft. of space in 2013, more than double the 20 million sq. ft. completed in 2012.

Houston -- A Tuesday report by NPD Group found that total consumer traffic through convenience stores was down 2.1% in the third quarter, compared with the same period last year.

NPD’s convenience store market research reports that the traffic decline this quarter was largely driven by lower purchase frequency (5.9 visits per 30 days), but was also influenced by a slight decline in the overall reach of the channel (only 50.2% of consumers aged 16+).