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New York -- On the heels of a strong performance in 2012 that included a 7.3% same-store sales increase, Nordstrom Inc. is investing heavily in its future. Two big areas of investment: online and expansion of the Nordstrom Rack outlet division, both in the United States and in Canada.
 
“Rack, direct and Canada will make up approximately half of our sales in the next five years,” Blake Nordstrom, president, Nordstrom Inc., said during the company’s quarterly conference call.  
   

Cherry Hill, N.J. -- Conshohocken, Pa.-based Fameco Real Estate announced that Red Robin has signed a lease at the Plaza at Cherry Hill, Cherry Hill, N.J.

The 6,000-sq.-ft. restaurant will join anchors LA Fitness, Raymour & Flanigan, Guitar Center, Sam Ash and Bottom Dollar at the 450,000-sq.-ft. power center.

 

New York -- Brixmor Property Group announced that Dollar Tree has opened an 8,000-sq.-ft. store at Rose Pavilion, in Pleasanton, Calif., and will open a 9,000-sq.-ft. store at Ridgeview Centre, in Wise, Va.

Brixmor Property Group, based in New York City, owns both Rose Pavilion and Ridgeview Centre.

 

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Watchung, N.J. -- North Plainfield, N.J.-based Levin Management Corp. said that The Children’s Place will join the tenant roster at Blue Star Shopping Center in Watchung, N.J., this spring.

Levin is the property’s managing and leasing agent.

Children’s Place leased 4,307 sq. ft. at the 419,000-sq.-ft. property, and will join other children’s retailers Toys “R” Us, Becker’s School Supplies and GameStop at the center, as well as Kohl's, ShopRite, Michaels and Marshalls, among others.

 

Washington, D.C. -- Nearly three-quarters (73.3%) of consumers say their spending plans are taking a hit due to the recent payroll tax changes, according to NRF’s 2013 Tax Returns Survey conducted by BIGinsight.
 
When asked how the new federal tax laws have affected spending, saving or budgeting of their households, nearly six in 10 (58.2%) of those polled say their plans have been either somewhat or greatly impacted. Specifically, nearly half (45.7%) say they will spend less overall, and 35.6% will watch for sales more often.
 

LITTLE ROCK, Ark. — Alexa Latimer Dillard, wife of Dillard's founder, the late William Dillard, has passed away.

Born in Nashville, Arkansas on Oct. 30, 1916, Alexa Latimer married William T. Dillard on June 9, 1940. Dillard was known for her quick wit and eye for great merchandise, but more importantly for her unmatched devotion to her family, according to the company. 

 

 

New York -- OfficeMax Inc. and Office Depot have formally announced an agreement under which the two companies would combine in an all-stock merger that would transform the office supply sector of retail. The merger, which creates a single company with nearly $18 billion in revenue, was unanimously approved by the board of directors of both chains.