Discount Store

Tucson, Ariz. -- Oakbrook, Ill.-based Inland Diversified Real Estate Trust announced the acquisition of The Corner, an 80,155-sq.-ft. shopping center in Tucson, Ariz., for approximately $29.5 million.

Tenants at The Corner include Total Wine, Nordstrom Rack and Five Guys Burgers and Fries, along with Sleep Number by Select Comfort, Sprint and Paradise Bakery.  

Secaucus, N.J. -- The Children's Place Retail Stores Inc. reported Monday that its CFO Steven Baginski has resigned the company, effective immediately.

According to the retailer, Baginski is leaving to pursue other interests.

Former COO and CFO of The Talbots Inc., Michael Scarpa, has been named Baginski’s successor, effective Dec. 3.  

Scarpa also worked at Liz Claiborne Inc. for 25 years.
 

Jeff Gordman is following in the family tradition. As president, chairman and CEO of Gordmans, he leads a company whose roots go back nearly 100 years, to when his grandfather opened a store in downtown Omaha in 1915.

From that one store, the company evolved over the years, eventually expanding beyond Nebraska. It also added a discount division, Half Price Stores. By 1990 the company had 32 stores, equally divided between the two divisions.

New York -- Cyber Monday continues its importance, driving a nearly 22% increase in year-over-year online sales, Chase reported Tuesday as part of its latest Holiday Pulse report. Monday sales beat Sunday, the next highest day, by a margin of 26.7%.

Each year, in December, Chain Store Age publishes a retail overview of the northeastern quadrant of the United States and, each year, there’s not a lot of bad news to report, even in recessionary times. This year is no exception; in fact, despite a superstorm that ravaged much of the region, the economic engine continues to chug along.

Washington, D.C. -- The National Retail Federation reported that more than 35 million Americans visited retailers’ stores and websites on Thursday – up from 29 million last year – scoring deals on everything from hot electronic items to cashmere sweaters and toys.

According to an NRF survey conducted by BIGinsight over the weekend, traffic and spending grew over the entire weekend. More people than ever before also shopped online and in stores on Black Friday, as 89 million shoppers braved the crowds, up from 86 million last year.

"A huge win," is how National Retailer Federation president and CEO Matt Shay characterized the biggest shopping weekend of the year during media briefing Sunday afternoon.

More people shopped more often in more places over the weekend and in the process pushed spending to a record $59.1 billion compared to $52.4 billion during the comparable four day period the prior year, according to an NRF survey of 4,000 shoppers.

Chicago -- A report released Saturday by ShopperTrak found that Black Friday proved to be a mixed bag for retailers, as retail foot traffic increased over last year, but retail sales decreased slightly.

ShopperTrak estimates that, when compared with Black Friday last year, retail foot traffic rose 3.5% to more than 307.67 million store visits. Retail sales decreased 1.8%, however, with shoppers spending an estimated total of $11.2 billion on Friday.