Discount Store

New York -- While it may be days, even weeks, before the full extent of the damage caused by Hurricane Sandy is known, economists are forecasting that retail sales will be impacted in October and November but that the economy overall will experience an uptick.

Covington, La. -- Stirling Properties announced that Sam’s Club has opened at its River Chase shopping center, the largest open-air retail center in St. Tammany Parish.

The 136,000-sq.-ft. Sam’s Club features a fuel station and pharmacy, and joins anchors Target, Belk and J.C. Penney at the master-planned, mixed-use development.

Minneapolis -- Christopher & Banks Corp. said Monday it has named LuAnn Via president and CEO, effective Nov. 26.

Via, also named to the retailer’s board of directors, succeeds Joel Waller, who will remain in a consultative capacity through June 30, 2013.

Since July 2008, Via has served as president and CEO of Payless ShoeSource, a subsidiary of Collective Brands, which recently was acquired.

Toronto -- Canadian luxury fashion retailer Holt Renfrew & Co. said Monday it will launch a new discount chain called hr2, with a first store in March in Quebec, followed by planned locations across the country by 2015.

It said the stores will range in size from 25,000 sq. ft. to 35,000 sq. ft., smaller than Holt Renfrew’s nine department stores, and targeting women age 25 and up.

New York -- Nearly half (49%) of retail CFOs expect their capital expenditures will increase in the next 12 months, a 19-point uptick that leads all industries, and 29% expect to consider additional financing for expenditures, also leading all industries. according to GE Capital’s latest semi-annual “U.S. Mid-Market CFO Survey.” (Retail respondents have revenues of $150 million and an employee count of 1,235, on average. Data comparisons are against the GE Capital Mid-Market’s CFO Survey executed in first quarter 2012.

Matthews, N.C. -- Family Dollar Stores said Friday it has named Colin McGinnis as SVP store operations support, store development and procurement. He will report to Barry Sullivan, EVP store operations.

McGinnis joined Family Dollar in August of 2004 as a regional VP and, in 2006, he was named VP store operations support and process improvement. Most recently, he added additional responsibility for store services, procurement and store development.

Jacksonville, Fla. -- Stein Mart is expanding with the opening of seven stores this fall. The new stores are located in Surprise, Ariz.; Katy, Texas; Tucson, Ariz.; and Charlottesville, Va. The McAllen, Texas; Biloxi, Miss.; and San Dimas, Calif., stores are a relocation of another area store to improve sites.

The four new and three relocated stores bring Stein Mart's total store count to 263 at the end of this year.

By Michael Dart, Todd Hooper and Jay Agarwal

Although it isn’t as sexy as luxury or as dramatic as discount, the space somewhere in between is heating up.

In fact, recent deal activity suggests that retailers that cater to both low- and high-income segments — those serving “the middle” — have tremendous potential.