eCommerce

OAKLAND, Calif. — Increased cutomer traffic and average ticket, helped drive comps at Cost Plus up 7.6% for the fourth quarter of 2011 on top of a 7.7% increase from the fourth quarter of last year. The company reported that net sales for the quarter were $364.3 million, a 6.7% increase compared with $341.6 million for the fourth quarter of last year. 

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.

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 — 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.

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.

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.
 

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.

Surging gas prices this spring could jeopardize Walmart’s tenuous same-store sales recovery as consumers have less disposable income and opt to shop at outlets closer to home. At least that was how the situation played out in the recent past when gas prices surged above $4. Are things different now?