Discount Store

Walmat’s efforts to penetrate to New York have been the focus of considerable media attention the past few years so it is somewhat strange to find no mention of the company in a report out this week on commercial real estate trends.

Laura Pomerantz, a principal with the New York-based commercial real estate firm of PBS Real Estate noted that “2011 will see big changes on the streets of Manhattan. New and unexpected retailers are transforming shopping dynamics from Madison and Fifth Avenue to Times Square and the Upper West Side.”

New York City -- Target has partnered with two local developers to purchase a 7.9-acre United States Postal Service site in the Throgs Neck section of Bronx, N.Y., for $35.2 million, where they plan to build a 300,000-sq.-ft. mall, according to New York Read Estate News.

Olympia, Wash. -- Youngstown, Ohio-based Cafaro Co. said Tuesday that Ross Dress for Less will open a new store at its Target Place Plaza, located in Olympia, Wash.

The new 28,000-sq.-ft. store will open to the public on March 5.

Target Place Plaza is a 282,183-sq.-ft. center anchored by Target, along with Ross Dress For Less, OfficeMax, Macy’s Furniture Gallery, FedEx Kinkos, Whistle Workwear, Honey Baked Ham, Jo-Ann Etc. and more.

New York City -- Kmart is now offering paperless receipts, according to a report in the Detroit Examiner.

Customers who sign up for the chain’s My Rewards program are given the chance to opt-in to the new paperless offer. In the program My Rewards members make a purchase at the store and the receipt is sent by e-mail. Unless the receipt is printed at home or work by the customer there is no paper.

NEW YORK -- Loehmann's has emerged from Chapter 11 bankruptcy and is ready to position itself has the destination for top designer clothing for less. The company said it will focus its merchandising strategy on well-known designer brands that resonate with its frequent shoppers. The company has also refined its advertising outreach to communicate with Loehmann's core customers and potential new shoppers.

New York City -- While Walmart and Target continue to closely contend on price, Target’s basket price came in less expensive in the latest semi-annual pricing study by Kantar Retail.

“Walmart’s price positioning reveals that it has largely returned to a blanket EDLP approach, while Target’s TPC positioning is centered on price promotions to drive guests’ impressions and achieve actual basket price leadership,” said Leon Nicholas, senior VP of Retail Insights for Kantar Retail and contributor to the study. 

NEW YORK -- Following its emergence from bankruptcy, Loehmann's announced some executive changes. According to the company, CEO Jerald Politzer, who guided the company through this successful bankruptcy process, has chosen to leave Loehmann's. Joe Melvin, the company's COO and CFO will assume the role of interim CEO.

Originally purchased by Paster Enterprises in 1985, Mendota Plaza in Mendota Heights, Minn., underwent a minor facelift in 1989. In 2005, it became evident that the 60,000-sq.-ft. community shopping center needed a significant revitalization, and so the planning began. While developing the plans for the new and improved Mendota Plaza, Paster Enterprises worked tirelessly to acquire the adjacent eight acres of land. Along with several smaller parcels, the land was acquired, bringing the full parcel to 21.2 acres.