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  • Westwood Financial acquires Stroh Ranch Retail Center

    Parker, Colo. -- Westwood Financial Corp. said it has acquired the Stroh Ranch Retail Center, a 6,336-sq.-ft. property in Parker, Colo., outside Denver. Westwood Financial bought the distressed asset in a short sale and said it is currently eyeing similar opportunities in this sector.

    The two-unit, 1999-built Stroh Ranch Retail Center currently counts Pizza Hut as its only tenant after Blockbuster vacated last year, leaving it 21% leased.
     

  • Bed Bath & Beyond last year's profits

    UNION, N.J. — Bed Bath & Beyond dominates the home and housewares retail space by consistently reporting strong revenue and earnings growth, and this quarter was no exception.

    The company reported net earnings of 72 cents per diluted share ($180.6 million) in the fiscal first quarter ended May 28, an increase of approximately 38% versus net earnings of 52 cents per diluted share ($137.6 million) in the same quarter a year ago.

  • Best Buy to sublet store space to smaller retailers

    Minneapolis -- Elaborating on previously announced plans to downsize its brick-and-mortar footprint, Best Buy CEO Brian Dunn said this week that the electronics retailer is launching plans to wall off parts of its big-box stores and sublease the space to smaller retailers, such as grocers, beauty supply stores, home furnishing outlets and others.

  • Two new executives join RILA board

    WASHINGTON — The Retail Industry Leaders Association announced that Louis D'Ambrosio, president and CEO of Sears Holdings and Joseph DePinto, president and CEO of 7-Eleven, have been named to its board of directors.

  • Genesco acquires 59-store U.K. retailer

    Nashville, Tenn. -- Genesco announced Thursday that it has acquired Schuh Group, a specialty retailer of casual and athletic footwear based in the United Kingdom.

    The purchase price was $159 million.

    Headquartered in Scotland, Schuh operates 59 stores in the United Kingdom and Republic of Ireland, 16 concessions in Republic apparel stores and one of the U.K.'s largest online shoe websites. 

  • Rite Aid trims losses as loyalty program, new formats drive same-store sales

    CAMP HILL, Pa. — Sales may have been flat overall, but a closer look revealed there was a lot to be positive about in Rite Aid’s fiscal first quarter 2012 earnings, as the company managed significant expense improvement and stronger same-store sales growth. Bottom line: Rite Aid narrowed its losses considerably, and that ain’t all expense control.

  • Staples unveils plans for smaller stores

    Framingham, Mass. -- Staples has revealed plans to shrink its overall store footprint and grow its break rooms as a means to lower costs and increase sales productivity.

    In a presentation to analysts at a Jefferies & Co. conference in New York City on Wednesday, Staples U.S. president Demos Pareros said new stores will be about 15,500 sq. ft. to 16,000 sq. ft., down from the current prototype of 18,000 sq. ft. and the 2000 prototype of 24,000 sq. ft.

  • Whole Foods co-chief sets goal of 1,000 U.S. stores

    Austin -- Whole Foods Market co-CEO Walter Robb told investors at a Jefferies Global Consumer Conference that the now-300-store chain is expected to grow to 1,000 stores in the United States.

    The organic grocer sees opportunity in Canada as well, and Robb said it expects to grow its store count there from six to 35.

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