eCommerce

New York City -- High-end Swiss cosmetic retailer La Prairie will expand its Fifth Avenue location, between 53rd and 54th Streets.

According to its real estate representative Cushman & Wakefield, La Prairie will expand and occupy an additional 9,400 sq. ft. and the entire 11th floor of its existing building. The company also occupies the entire 13th and 14th floors.

La Prairie will occupy a total of 22,110 sq. ft. in the 26-story building.

Any early skepticism about the longevity of mixed-use has been silenced. The art of combining components to create a live-work-play project has evolved into a science. And those that have become particularly adept at building, leasing and managing mixed-use properties say that the right formula makes for a successful development. 
Chain Store Age talked with three top developers of mixed-use projects and uncovered several trends that are governing, and continuing to evolve, the format.


Trend #1: Adding local flavor 


Bentonville, Ark. -- Wal-Mart Stores announced that Eduardo Castro-Wright, 56, vice chairman and CEO of the company’s Global eCommerce and Global Sourcing businesses, will retire on July 1, 2012. The company said it plans name new leadership for these businesses by the end of January, after which Castro-Wright will assist in the transition.
 

Deerfield, Ill. -- Walgreen Co. reported Tuesday that profit for its fiscal fourth quarter surged 69%, in part due to gains from the $525 million sale of its pharmacy benefits management business Walgreens Health Initiatives during the quarter.

Net income for the quarter ended Aug. 31 rose to $792 million, up from $470 million in the year-ago period and surpassing Wall Street expectations.

Revenue rose 6.5% to $18 billion and same-store sales increased 4.4%.

SCHAUMBURG, Ill. — New research from Nielsen shows consumers will be practical and focused on value during the upcoming holiday season, which bodes well for Target as one on the nation’s leading toy retailers and top destination for gift givers.