Discount Store

Lompoc, Calif. -- Brixmor Property Group announced a 24,050-sq.-ft. lease has been executed with Marshalls at Lompoc Shopping Center, located in Lompoc, Calif. 

Marshalls will join other national retailers including Vons, Michael’s, Pier 1, Petco and Staples. 

Brixmor, based in New York City, is the owner of Lompoc Shopping Center.

Philadelphia -- Forever 21 recently relocated and expanded to a two-story location in the newly developed wing at Willow Grove Park, located in eastern Montgomery County just north of Philadelphia. The mall is owned and operated by Pennsylvania Real Estate Investment Trust.

Hoffman Estates, Ill. -- Sears Holdings Corp. said Tuesday that it will close between 100 and 120 underperforming Sears and Kmart stores, following dismal holiday sales results for the brands.

The company said it has not yet identified which stores will be shuttered, but said that the closures are part of an overall plan to shift its focus from shoring up underperformers to concentrating its efforts on stronger stores.

There were no new surprises during November regarding prices at Walmart, but then that is to be expected. The everyday low price strategy to which Walmart has a newfound adherence is boring and that’s the way the company and presumably its customers like it.

Increasing shopper traffic in stores was a challenge for Walmart throughout 2011, but it was a different story online. The retailer surged to number 18 on the November ranking of the top 50 U.S. Internet properties compiled by online measurement firm comScore.

Walmart.com registered 58.5 million unique visitors in November, a big lift sequentially from October when it had 45.2 million visitors and, more impressively, well above November 2010 when comScore showed Walmart.com with 51.8 million visitors.

MINNEAPOLIS — While many retailers are scrambling to attract last minute Christmas shoppers, some, including Target, are already looking ahead to Dec. 26.

Target announced that beginning next Monday, customers can save up to 50% off on such items as women’s and kids’ apparel, as well as home and holiday decor, in stores and online at Target.com. Doors will open at Target stores nationwide at 7 a.m. on Monday.

Union, N.J. -- Bed Bath & Beyond Inc. reported Wednesday that profit for the quarter ended Nov. 26 rose 28% to $228.5 million, compared with $188.6 million in the year-ago period.

Revenue rose 6.8% to $2.3 billion, from $2.2 billion a year earlier. Same-store sales increased 4.1%.

During the quarter, the company opened seven Bed Bath & Beyond stores, seven Buybuy Baby stores, one Christmas Tree Shops store and one Harmon Face Values store.

Change at the top is an inevitable fact of life in any profession, and retail is no exception. While the reasons behind the need to find a new chief executive vary widely, the incoming executives face a common challenge: taking the business — be it faltering or thriving — forward without missing a beat.