Discount Store

Hoffman Estates, Ill. -- Sears Holdings Corp., which in February announced it would spin off its Hometown and Outlet businesses as a separate publicly traded entity, said Tuesday it expects to receive about $446.5 million in gross proceeds from an offering tied to the spinoffs.

The offering of rights to purchase shares of the spinoff debuted on the Nasdaq under the "SHOSR" ticker symbol in September. According to Sears, the rights offering expired on Monday; preliminary results show that more than 95% of the options were exercised.

NEW YORK — H&M will cement its place in New York City with the opening of its 13th store in Times Square.

The retailer has announced the lease signing for a 42,500 sq. ft. space that will become part of the NYC skyline, complete with 70 ft. by 70 ft. signage at the top of the store.

The store will feature three floors housing collections for ladies, men and children.

Commerce, Calif. -- Discounter 99 Cents Only said Tuesday it has launched an official search for a retail property on Rodeo Drive in Beverly Hills, Calif., to open its first store on the iconic street.

"We are confident a Rodeo Drive store will be successful because our stores do well in affluent areas,” said Eric Schiffer, CEO. “In fact, our highest sales volume store is located only a few blocks from Beverly Hills on Wilshire Boulevard.”

Of its 303 extreme-value stores in the U.S., 222 are in California.

New York -- Garrison Investment Group said Tuesday it has acquired a 13-property portfolio totaling 1.7 million sq. ft. of neighborhood and community shopping centers in Ohio and Indiana. The seller is Kimco Realty Corp.

The 13 properties feature retailers such as T.J. Maxx, Giant Eagle, Kroger, Bed Bath & Beyond and Home Depot.

Garrison engaged Cincinnati-based Select Strategies Realty manage and lease the properties.

COMMERCE, Calif. — Rodeo Drive is the place where Julia Roberts got the last laugh in "Pretty Woman" and the home to some of the most sought-after fashions in the world. But perhaps there is room on the iconic street for a more inclusive retail destination.

In that vain, 99 Cents Only Stores has issued a press release announcing its search for retail property on Rodeo Drive and is encouraging anyone with information on available retail space on Rodeo Drive is to contact its real estate department.

Seattle -- Nordstrom Inc. said Tuesday that it has opened a second Cleveland Nordstrom Rack store – at the Promenade in Crocker Park, owned and managed by Stark Enterprises.

The 34,000-sq.-ft. store is slated to open fall 2013 in a former Border’s space at the lifestyle shopping center located in Westlake, Ohio, and tenanted by Bed Bath & Beyond, H&M, Trader Joe’s, Victoria’s Secret and The Cheesecake Factory.

CAMBRIDGE, Mass. — Dollar General is the overall basket price leader, delivering a substantial savings to value shoppers, according to Kantar Retail's second annual opening price point survey. Walgreens, for the second year, had the most expensive total basket, driven by sharply higher edible and nonedible grocery baskets.

Hoffman Estates, Ill. -- Kmart and Sears are gearing up for the holiday shopping season with the elimination of layaway service fees, a new layaway home delivery service and an enhanced in-store mobile experience.