Discount Store

New York City -- Saks plans to close its 20,000-sq.-ft. Saks Fifth Avenue Off 5th store in Triangle Factory Outlets in Morrisville, N.C., (metropolitan Raleigh) by Jan. 1.

The company opened a 30,000-sq.-ft. Off 5th location in Tanger Outlet Center of the Piedmont in nearby Mebane, N.C., in 2010, which will serve as a replacement store for the closing location. The new Mebane store was designed in the chain’s loft” format that debuted in 2008 and which redefined and elevated the outlet shopping experience.

Toronto -- Joe Fresh, the Canadian value-priced apparel brand, has opened its first permanent U.S. store, in Bridgewater Mall, Bridgewater, N.J., and another in Roosevelt Field Mall, Garden City, N.Y. The company will make its New York City debut, in Manhattan’s Flat Iron District, on Nov.3. A second store will open in spring, on Fifth Ave.

In addition, the retailer is opening two Joe Fresh Holiday Fashion pop-up stores in Manhattan. (This past summer, the brand operated a summer pop-up in East Hampton, N.Y.)

Under most circumstances, Walmart and Target are like oil and water, but when the issue is fighting retail crime even fierce competitors see the wisdom of coming together to battle a common enemy.

Such is the case with retail theft, and earlier this week the Retail Industry Leaders Association welcomed a select group of senior level asset protection executives, product manufacturers and academic researchers to the 2011 Asset Protection Leaders Council (APLC) meeting in Minneapolis to launch the APLC’s process driven shrink initiative. 

Dollar stores get a lot of the credit for negatively impacting Walmart’s U.S. sales the past few years and it’s no wonder. The big three – Dollar General, Family Dollar and Dollar Tree – have grown rapidly and collectively operate more than 20,000 conveniently located units that offer sharp prices on an expanding assortment of food and consumables.

COLUMBUS, Ohio — SB Capital Group, a Schottenstein affiliate, said Monday it has acquired 15 JCPenney Outlet Stores from JCPenney Co., and will rebrand the units as JC’s 5 Star Outlet.

According to SB Capital, the stores will operate for up to a 21-month transitional period as JCPenney Outlet Stores, as the stores are converted to JC's 5 Star Outlet. J.C. Penney will continue to supply the stores with overstocks and end-of-season merchandise, and all existing store staffs and management have been retained.

TOPEKA, Kan. — Payless ShoeSource announced that it is inviting nonprofit organizations to join the retailer in its big holiday giving program, Payless Gives Shoes 4 Kids, where it will deliver more than $1.2 million of free shoes to children of families in need across the U.S., Canada, Puerto Rico and in 11 Latin American and Caribbean countries this holiday season.  

BALDWYN, Miss. — Hancock Fabrics hass announced that its board of directors has appointed Steven Morgan, the current interim president and CEO and member of the company’s board of directors, to serve as president and CEO, effective immediately. Morgan will continue to serve as a member of the Company’s board of directors.

Commerce, Calif. -- 99 Cents Only Stores reported Friday that same-store sales for the second quarter rose 6.7%. The news comes just days after the discounter agreed to a $1.6 billion buyout by private equity firm Ares Management LLC and the Canada Pension Plan Investment Board.

Total revenue for the quarter ended Oct. 1 rose 8.8% to $363 million.