eCommerce

NEW YORK — Closed by floods in May 2010, the Saks Fifth Avenue Off 5th at Opry Mills in Nashville, Tenn., will reopen on March 29.

Located next to the Grand Ole Opry House, the approximate 27,500-sq.-ft. store will be located in the Opry Mills Shopping Center. Operated by Simon Malls, upon completion, the center will be the largest shopping outlet in Tennessee, with over 200 stores, multiple restaurants and an in-house movie theater.

NEW YORK — Fortune has released its 2012 list of the most admired companies, and it should come as no surprise that Apple topped the list. Even with the passing of Steve Jobs, the company didn't miss a beat delivering products that are still in high demand, increasing sales and delivering soaring profits for its investors.

Also on the list were a number of retailers including third-ranked Amazon.com, 20th-ranked Costco Wholesale, 24th-ranked Wal-Mart Stores, 25th-ranked Target, 28th-ranked Whole Foods Market and 41st ranked eBay.

New Orleans -- Covington, La.-based Stirling Properties announced that urban shopping center development Mid-City Market has broken ground in New Orleans, along the North Carrollton Avenue commercial corridor.
 
Opening in early 2013, Mid-City Market will complement the proposed Lafitte Greenway pedestrian and bicycle pathway that will border the shopping center.  

New York --  Lululemon Athletica Inc.’s income rose 34.2% to $73.5 million for the three months ended Jan. 29, from $54.8 million in the year ago period.

Revenue in the fourth quarter was up 51.4% to $371.5 million, from $245.4 million. Same-store sales increased 26%.

For the year, sales rose 40.6% to $1 billion. Profits were up 51.1% to $184.1 million.
 

Columbus, Ohio -- The Limited on Friday will open a 4,300-sq.-ft. store in Westfield Galleria Mall, Roseville, Calif., one of four new locations the chain will open this year in California. The women’s apparel retailer is also completely remodeling a fifth, representing 21,000 gross sq. ft. of new retail space in the Golden State.

New York -- Saks Fifth Avenue Off 5th announced that it plans to reopen its Nashville, Tenn., store on March 29.

Located next to the Grand Ole Opry House, the approximate 27,500-sq.-ft. store will be located in the Opry Mills Shopping Center. Operated by Simon Malls, upon completion, the center will be the largest shopping outlet in Tennessee, with over 200 stores, multiple restaurants and an in-house movie theater.

The reopening marks Saks Fifth Avenue Off 5th’s return to Opry Mills after it was closed by floods in May 2010.

Philadelphia -- The trustees of Pennsylvania Real Estate Investment Trust (“PREIT”) announced that Joseph F. Coradino will become CEO of the company as of the company’s annual meeting on June 7, succeeding Ronald Rubin, who will serve as executive chairman.

Coradino has been with PREIT and a predecessor company for three decades, serving since 2004 as president of PREIT Services, LLC and PREIT-Rubin, Inc., and as a member of the office of the chairman. He has been a trustee of PREIT since 2006.

WOONSOCKET, R.I. — CVS/pharmacy is shuttering all of its Beauty360 locations and ceasing operation of the Beauty360 e-commerce business to focus on the growth of its core CVS/pharmacy beauty business, the retailer confirmed on Wednesday.

As of May 19, all 25 of the Beauty360 locations will close and the e-commerce business will cease operation.

WAYNE, N.J. — The decision to open fewer Express stores during the 2011 holiday selling season, along with a decline in comparable-store sales both in the United States and internationally, contributed to Toys“R”Us's fourth-quarter net sales decline of $47 million to $5.9 billion. On a positive note, the company's new ventures in Greater China and Southeast Asia have offset the sales decline.

HOFFMAN ESTATES, Ill. — Former Sony Electronics executive, Steve Haber, is joining Sears Holdings as SVP and president, home appliances. 

In his new role with Sears Holdings, Haber will lead the company's effort to continue driving profitable growth in its industry-leading appliance business.