Mass Merchant

Wenatchee, Wash. -- Sportsman’s warehouse has signed a lease for a 49,000-sq.-ft. former Sears location at the Wenatchee Valley Mall in Wenatchee, Wash., according to Vintage Real Estate, which brokered the deal.

The new Sportsman’s will open in the spring of 2014. Sears will open a 10,813-sq.-ft. new format store in the mall.

Cranford, N.J. -- Winick Realty Group N.J. has announced the formation of an investment sales division in the company’s Cranford, N.J., office. The new division will focus on a wide range of properties from ne-leased investment-grade properties to shopping centers throughout New Jersey.

“The investment sales market is red-hot right now, with a substantial amount of business that reaches pre-recession levels,” said Tyler Bennett, senior VP and founding partner of Winick Realty N.J.

Walmart, Target, Best Buy and other retailers created a cooperative nearly a year ago to develop a mobile payment approach and this week they welcomed another major player to the fold.

NEW YORK — Walmart is ditching plans to build three stores in Washington, D.C., after the city council passed a bill on late Wednesday setting a higher minimum wage for large retailers.

“This was a difficult decision for us — and unfortunate news for most D.C. residents — but the council has forced our hand,” said Wal-Mart spokesman Steven Restivo in a statement released after vote, which passed 8 to 5.

Austin, Texas -- Research results released Thursday by coupon site Offers.com found that 67% of U.S. parents with school-aged children plan to spend more than $100 per child on back-to-school shopping this year.

New York -- U.S. retailers' June sales suggest overall consumer spending is improving, even though lower-end shoppers are holding back on nonessential purchases. Same-store sales increased 3.9% in June compared to the year-ago period, according to a preliminary tally of 12 retailers by the International Council of Shopping Centers. The association had expected a 3% to 3.5% increase.

San Diego -- Warehouse club operator PriceSmart reported Thursday that profit for the quarter ended May 31 rose 18% to $18.5 million, compared with $15.7 million in the year-ago period but missing Wall Street estimates.

Revenue rose 13% to $571.7 million, beating analysts’ expected $568.6 million in sales. Same-store sales rose 9.7%.

MINNEAPOLIS — Target is aiming its latest digital marketing campaign at college students and their families just in time for the back-to-school season.

Called the Bullseye University Digital Experience, the multichannel marketing effort features popular YouTube personalities in a life-size "dorm" and allows people to buy items from the "dorm" between Monday and next Thursday and enter contests to win college gear.