Discount Store

A monthly pricing survey by Credit Suisse showed Walmart had the lowest overall basket price in Dallas and Chicago and suggest that where prices head from here is up to Walmart.

Hingham, Mass. -- The Talbots reported Thursday a narrower-than-expected fiscal fourth-quarter loss, and said it plans to expand its store re-image program to improve traffic. The chain also it expects to close as many as 100 stores over the next two years.

Talbots lost $2.8 million in the quarter ended Jan. 29, compared with a loss of $1.5 million in the year-ago period.

Net sales fell 7.4% to $292.6 million, compared with $315.9 million in the same period last year. Same-store sales dropped 7.3%.

Walmart’s small format desires certainly haven’t gone unnoticed by the folks at Dollar General, a company that appears bent on saturating the marketplace with small discount stores. Last year, Dollar General opened 600 new stores and remodeled or relocated 504 other stores to end its fiscal year with 9,372 stores. This year, more of the same is planned with the expansion figure getting a bump to 625 new units, while the number of remodels and relocations expands to 550 units.

MEMPHIS, Tenn. -- In yet another example of how discount stores are dominating the retail industry these days, Fred's Inc. reported strong earnings and sales growth for its fiscal fourth quarter. The company reported fourth-quarter net income of $8.6 million, or 22 cents per diluted share, a 49% increase over last year's reported net income of $5.8 million or 15 cents per diluted share. For the year ended Jan.

Bentonville, Ark. -- Wal-Mart Stores said it will open a new office in Atlanta, positioning the retailer to more effectively manage nearly 1,600 stores in 20 eastern U.S. states and allow it to focus on opportunities to grow its business in states such as New York.

The new eastern business unit will be run by Rosalind Brewer, president of Walmart East and executive VP of Walmart U.S.

Greenwood Springs, Ind. -- Jacksonville, Fla.-based Regency Centers said it has leased retail space in Greenwood Springs, Ind., to two new tenants at Greenwood Springs shopping center.

Cannoli Queen has leased 1,400 sq. ft. of restaurant space and Superior Discount Liquors has leased 2,800 sq. ft. of retail space. The businesses are slated to open in the spring.

The 292,827-sq.-ft. shopping center is anchored by Walmart and Gander Mountain alongside national retailers such as Sport Clips and Buffalo Wild Wings.

New York City -- Robert K. Futterman & Associates said that it represented buyer The Georgetown Co. in the acquisition of 35 North State Street, a 60,000-sq.-ft. building in Chicago, for $23 million.

The building is currently net-leased to Old Navy and serves as the retailers’ Chicago flagship. 

Tilden, Pa. -- Metro Commercial Real Estate announced Wednesday that Tilden Ridge, a 400,000-sq.-ft. regional shopping center located in Hamburg, Pa., and anchored by a Wal-Mart Supercenter and Lowe’s Home Improvement, had its grand opening on March 15.

The shopping center, owned by West Conshohocken, Pa.-based Ironwood Property Group, is 98% pre-leased and includes, besides Walmart and Lowe’s, Five Guys Burgers & Fries, Logan’s Roadhouse, GameStop, Pet Supplies Plus, Sleepy’s and Schuylkill Valley Sports.