Discount Store

New York City -- Wal-Mart Stores may give up its quest to buy a controlling stake in South Africa’s Massmart Holdings Ltd., if South Africa forces local procurement conditions on the retailers, the companies said, the Associated Press reported.

New York City -- Retail real estate columnist Jeff Green has unveiled his newest opine on Chain Store Age’s real estate community website, discussing the impact – both positive and negative – that reducing a store footprint could have on a store’s brand.

Target is among the key sponsors of a Kids in Need Foundation event slated for this fall in Minneapolis. The company, along with fellow Minneapolis-based supplier 3M, is supporting the organization’s annual cocktail reception and fundraising dinner to be held September 21 at The Depot from 6:30 p.m. to 10:30 p.m. The guest speaker at the event is former OfficeMax chairman and CEO Sam Duncan.

I’m not sure if you’ve noticed, but it seems like you can’t pick up a paper or click a mouse lately without reading about some big box retailer rolling out its smaller store format. Target has its new 60,000-square-foot CityTarget concept, while Walmart has Walmart Neighborhood Market and Walmart Express stores. It seems like everyone is downsizing.

PHILADELPHIA — Urban Outfitters announced net income of $39 million, or earnings per diluted share of 23 cents for the first quarter ended April 30, compared with net income of $53 million, or earnings per diluted share of 31 cents.

Total company net sales rose by 9% over the same quarter last year to $524 million. Comparable retail segment net sales, which includes direct-to-consumer channels, decreased 1% for the quarter while comparable store net sales decreased 5% for the quarter. 

Houston -- The Men's Wearhouse surprised more than 14,000 employees with pizza delivery to every store across North America. To thank employees for their hard work and dedication, more than 42,400 slices of pizza were delivered to more than 1,200 Men’s Wearhouse, MW Cleaners, and K&G Fashion Superstore locations in the United States and Moores Clothing for Men stores in Canada.

Miami Beach, Fla. -- Terranova Corp. announced that self-serve frozen yogurt concept FreshBerry has signed on to a long- term deal for an 1,800-sq.-ft. space in El Mercado Shopping Center, in Hialeah, Fla.

El Mercado is a Publix-anchored center with additional tenants such as Anna’s Linens, GNC and Pollo Tropical.

FreshBerry has also signed on to join Parkhill Plaza, in Miami, in a long term 1,600-sq.-ft. deal. Parkhill Plaza is a Winn-Dixie-anchored center.

Newport Beach, Calif. -- Grubb & Ellis Co. said that Cole Real Estate Investments has selected members of the company’s Retail Group to lease Whittwood Town Center, a 686,211-sq.-ft. shopping center in Whittier, Calif.

Whittwood Town Center is approximately 97% leased, with national tenants including J.C. Penney, Target, Vons, Kohl’s, PetSmart, 24 Hour Fitness and Panera Bread.