Discount Store

Minneapolis -- Supervalu Inc. reported Tuesday that it swung to a loss of $424 million in the quarter ended Feb. 25, compared with a $95 million gain a year earlier. Results were negatively impacted by charges related to store closures and employee layoffs, but still beat Wall Street expectations.

Matthews, N.C. -- Family Dollar Stores has named Jon Broz to the position of VP and assistant general counsel, litigation.

Broz comes to Family Dollar from Lowe’s Cos.
 

MATTHEWS, N.C. — Family Dollar Stores has named Jon Broz to the position of VP and assistant general counsel, litigation. Broz will report to James Snyder, Jr., SVP general counsel and secretary.

“We are excited to have someone with Jon’s breadth of retail litigation experience join our team,” said Snyder. “Jon has a strong reputation for working closely with his clients and seeking creative solutions to resolve disputes quickly and cost effectively.”

Bayonne, N.J. -- Inland Real Estate Acquisitions announced it has acquired Bayonne Crossing, a 356,647-sq.-ft. shopping center in Bayonne, N.J., for approximately $75.2 million.

Located just off the Hudson River and across from Manhattan, the acquisition includes a 91,109-sq.-ft. Wal-Mart Urban Store and a 146,583-sq.-ft. Lowe’s Home Improvement, both anchor tenants on ground leases purchased by Inland Real Estate Acquisitions.

BOSTON — A study conducted by Brodeur Partners has unveiled the most relevant retailers in the United States.

New York -- Target Corp., The TJX Cos., and Ross Stores reported stronger-than-expected March sales as warm weather put consumers in a spending mood. Both retailers also revised their first-quarter outlooks upward on the results.

Target said its same-stores sales rose 7.3% in March, helped by warm weather. Analysts had predicted a 5.4% increase.

For the second month in a row Target’s same-store sales were nearly double the expected amount and the company increased its first quarter guidance as a result.

Same-store sales increased 7.3%, with half of the increase driven by growth in average transaction size combined with an increase in comparable-store transactions. Overall comparable-store sales in March 2011 decreased 5.5%.

NEW YORK — Target Corp., The TJX Cos., and Ross Stores reported stronger-than-expected March sales as warm weather put consumers in a spending mood. Both retailers also revised their first-quarter outlooks upward on the results.

Target said its same-stores sales rose 7.3% in March, helped by warm weather. Analysts had predicted a 5.4% increase.