Discount Store

With the political conventions coming to an end, it’s clear now that election season is in full swing. And, while I don’t pretend to know what the long-term implications of an Obama re-election or a Romney win would mean for our economy or our country, I do think that what happens on Nov. 6 will almost certainly have an impact on our industry — particularly, shopper sentiment and ultimately holiday sales.

Philadelphia -- Tween discounter Five Below Inc. reported Tuesday a loss in the second quarter of $64.2 million due to one-time costs that were attributed mainly to dividend payments made to preferred shareholders, among others. That compares with a loss of $1.7 million in the year-ago period. However, adjusted profit of $1.2 million beat expectations and the company’s third-quarter and full-year estimates are in line with Wall Street’s forecast.

New York -- Ann Taylor on Oct. 5 will open its first store outside of the United States, in the Toronto Eaton Centre. The company will open a second store in Canada, located in Toronto’s Yorkdale Shopping Centre, in November.

Bangladesh, India -- A Tuesday report by Reuters said that the Indian joint venture of Wal-Mart Stores and Bharti Enterprises has announced plans to open three to five cash-and-carry/wholesale stores in India by the end of the year.

The partnership currently operates 17 wholesale stores in India. 

Foreign ownership regulations in India do not allow global hypermarket and supermarket chains to open retail stores in the country, but they are allowed to operate wholesale operations.

Denver -- Junction Solutions announced that Renys, which operates 16 discount stores in Maine, has selected Junction Solutions to implement Microsoft Dynamics AX 2012 and help launch its multichannel retail strategy, while automating manual processes and improving visibility and collaboration throughout its store locations.

Mexico City -- Wal-Mart Stores’ Mexican arm Wal-Mart de Mexico reported Monday that same-store sales for the month of August rose 4.1%, beating analysts’ expected 2.8% increase.

The retailer, which is being investigated for bribery to expedite store openings, projects improved results for the second half of the year.
 

Rochester Hills, Mich. -- Brixmor Property Group announced that a 8,001-sq.-ft. Dress Barn recently opened at Hampton Village Centre, located in Rochester Hills, Mich.

Brixmor, based in New York City, is the owner of Hampton Village Centre.
 

Rocklin, Calif. -- Costa Mesa, Calif.-based Donahue Schriber announced the start of construction on Rocklin Crossings, a 543,500-sq.-ft. power center located just east of Sacramento, in Rocklin, Calif.

Anchored by Walmart, Rocklin Crossings is one of two sister-shopping centers being developed by Donahue Schriber within the city. Together, they will offer over 900,000 sq. ft. of retail and restaurants providing a regional shopping and entertainment destination for Rocklin.