eCommerce

Moline, Ill. -- Oakbrook Terrace, Ill.-based Mid-America Asset Management announced that Citi Trends is entering Moline, Ill., with a lease for 10,137 sq. ft. at City Line Plaza.

The new store is slated to open in June.

The 112,849-sq.-ft. City Line Plaza is anchored by Jewel/Osco and Family Dollar, with other tenants including Papa Johns, Hallmark and Rent-A-Center.
 

Woodbridge, N.J. -- Fameco Real Estate announced that Scott Jennerich has joined the Fameco organization and will be based out of its Woodbridge, N.J., office.

Jennerich previously led Trinity Real Estate Advisors, a consulting company specializing nationally in retail real estate, land development and the shopping center industry. He will join Fameco as the president of Trinity Real Estate Advisors, now a wholly owned subsidiary of Fameco Real Estate.
 

New York City -- Wal-Mart Stores is making progress bringing items and shoppers back to its U.S. stores, president and CEO Mike Duke said Tuesday at the Barclays Capital analyst conference in New York City. 

Duke noted that improving the chain’s U.S. same-store sales remains its top priority. He said the chain is on its way to having the right assortment.

Boca Raton, Fla. -- Office Depot reported a first quarter loss of $5.4 million, down from a profit of $29.5 million in the prior-year period, amid weaker sales and a higher tax rate.

Total company sales for the quarter were $2.97 billion, down 3% from last year.

New York City -- Coach's third-quarter net income increased 18% amid higher demand in North America, which helped offset an estimated $20 million hit to its revenue from Japan's tsunami and earthquake. Same-store sales in North America rose 10.3%. Analysts said Coach’s results offered further proof that spending by affluent shoppers is back on track and rising faster than other segments.

Net income rose to $186 million for the three months that ended April 2, up from $157.6 million a year earlier. Revenue rose nearly 15% to $950.7 million.

Dallas -- RadioShack Corp. said Monday that it plans to sell $300 million in debt that will come due in 2019.

The retailer said it plans to use the proceeds from the sale of the senior notes for general corporate purposes, which may include stock buybacks.

By Jason Pierson

New York City -- Borders Group won approval of an amended executive bonus plan after a judge sought changes to resolve objections from an arm of the U.S. government that oversees bankruptcies, Bloomberg reported.

Judge Martin Glenn of U.S. Bankruptcy Court in Manhattan said the amended bonus packages, which tie the $6.6 million in payments closer to the financial performance of Borders, were needed so Borders could "maintain its experienced work force."

New York City -- Tesco announced that it has acquired a majority stake in video-on-demand pioneer Blinkbox. The acquisition positions Tesco for the next stage in the Internet-driven revolution in home entertainment, the retailer said.

Blinkbox is the United Kingdom’s leading movie streaming service, offering thousands of titles streamed on the Internet.

Tesco has bought an 80% stake in Blinkbox from Eden Ventures and Nordic Venture Partners.

Dallas -- Zale Corp. is extending the maturity of $120 million of its credit facility by more than two and a half years, the Associated Press reported.

The portion being extended includes a seasonal adjustment of $20 million. The debt was set to mature Aug. 11. Now, it matures on April 30, 2014.

Zale said Monday that commitments under the facility remain at $650 million, including a $108 million seasonal adjustment. All commitments mature on the new date in 2014.