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Five B gets a new DC and comp boost
A 4.2% first quarter same store sales increase at teen retailer Five Below and better than expected results prompted the operator of 258 stores to increase its full year guidance.
Sales for the quarter ended May 4 increase 33.1% to $95.6 million and operating income swung to $3.2 million from a prior year loss of $2 million. Net income was $1.6 million compared to a net loss of $1.2 million the prior year.
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Jones Lang LaSalle brokers Hancock Village sale
Richmond, Va. -- Jones Lang LaSalle has closed the sale of phase I of Hancock Village on behalf of Edco in Richmond, Va.’s Chesterfield submarket.
Cole Real Estate Investments purchased the 153,853-sq.-ft. shopping center anchored by Dick’s Sporting Goods and Hobby Lobby. A Walmart Supercenter shadow-anchors the development.
JLL said the center is 100% leased.