Discount Store

COLUMBUS, Ohio — Big Lots has lowered its comparable-store guidance for its first quarter, and now expects them to be slightly negative compared with its prior guidance issued on March 2. The company's prior guidance estimated first-quarter comps would be up 2% to 4%.

Houston -- Stage Stores announced the appointment of Steven Lawrence as chief merchandising officer, effective April 30, 2012. Lawrence will be responsible for all of the merchandising, planning and allocation functions of the company.

Prior to joining Stage Stores, Lawrence spent 11 years with J.C. Penney, where he was most recently co-chief merchant executive VP GMM men’s, kids & home.
 

WASHINGTON — If NRF's predictions come true, moms will be in for an especially good Mother's Day this year. According to NRF’s 2012 Mother’s Day consumer spending survey conducted by BIGinsight, the average person celebrating the holiday is expected to spend $152.52 on gifts, up from $140.73 last year. Total spending is expected to reach $18.6 billion.

Burlington, N.J. -- Burlington Coat Factory will open a flagship in Manhattan this fall. It will be the off-price retailer’s sixth location in New York City. The 92,000-sq.-ft., three-level store will be in a building managed by Vornado Real Estate, on the south end of Union Square.

The Union Square flagship is part of a broader plan by Burlington to open more than 20 new stores in 2012.
 

New York -- Wal-Mart Stores confirmed that it is investigating its operations in Mexico for possible violations of the U.S. law that prohibits bribery overseas. The acknowledgement came in response to a lengthy article by The New York Times on Saturday that alleged the giant discounter first learned of allegations of "widespread bribery" by its workers in the country in 2005 and that top executives subsequently covered them up. 

Raleigh, N.C. -- Dallas-based Cypress Equities announced that Sally Beauty Supply will open a 1,354-sq.-ft. location at Plantation Point Shopping Center, located in Raleigh, N.C.

Sally Beauty Supply will be located between Rapid Refill and Dollar Tree at Plantation Point Shopping Center. The store is slated to open in spring 2012.

Houston - Stage Stores said Thursday it has made Michael Glazer’s role as interim president and CEO a permanent one.

Glazer, a board member for the chain, was named interim chief following Andy Hall’s resignation in March.

According to Stage chairman William Montgoris, Glazer’s familiarity with the company’s growth and expansion strategy helped him secure the permanent role. “It became clear the company and its shareholders would be best served by making his appointment permanent," Montgoris said.

Virginia Beach, Va. -- Divaris Real Estate Inc. announced the following lease transactions were completed for several retail tenants:

A lease extension was signed with Tidewater Finance Co. for 25,516 sq. ft. of retail space in the DRE-leased and –managed Tidewater Plaza in Virginia Beach.