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Mass Merchant

  • Nordstrom Rack to open third Houston-area store

    Seattle -- Nordstrom plans to open a third Houston-area Nordstrom Rack location. The approximately 38,000-sq.-ft. store is scheduled to open in fall 2014, at Willowbrook Mall is owned and managed by General Growth Properties  

    "We've been looking for opportunities to better serve Houston customers as we continue to grow," said Geevy Thomas, president of Nordstrom Rack.

  • Saks Off 5th tries on new format

    NEW YORK — Saks Fifth Avenue Off 5th is opening its third store in metropolitan Atlanta, but the 28,000-sq.-ft. space at the Outlet Shoppes of Atlanta at Woodstock will be the first modeled after the company’s “luxury-in-a-loft” design.

  • Chipotle opens in Orange Plaza in Middletown, N.Y.

    Purchase, N.Y. -- Chipotle Mexican Grill has opened at Orange Plaza, an 815,000-sq.-ft. Middletown, N.Y. power-center owned by National Realty & Development Corp.

    Orange Plaza’s anchors include a Wal-Mart Supercenter, The Home Depot, Kohl’s Department Store, Burlington Coat Factory, Marshalls, Bed Bath & Beyond and Staples.

    The center draws shoppers from a 12-mile radius with a population of more than 157,000. Approximately 20,000 of the 46,000 vehicles passing the center every day are shopping center destination trips.

  • Retail real estate recovery still on, says CBRE

    Los Angeles -- For the second consecutive quarter, the retail availability rate has fallen 30 basis points, according to the latest analysis from CBRE Group. The rate now stands at 12.2% and testifies to improved retailer confidence as consumer spending continues to rebound.

    The availability rate tracks space that is actively being marketed and available for tenant build-out within 12 months.

  • Walmart will cancel three D.C. stores if wage bill passes

    New York -- Walmart confirmed in an op-ed in the Washington Post that it will pull the plug on three planned stores in the Washington, D.C., area if the D.C. Council passes a bill setting a higher minimum wage for large retailers. The bill, the Large Retailer Accountability Act (LRAA) of 2013, is scheduled for a vote on Wednesday.

  • If wage bill passes, Walmart will cancel three D.C. stores

    NEW YORK — Walmart confirmed in an op-ed in the Washington Post that if the D.C. Council passes a bill setting a higher minimum wage for large retailers, it will pull the plug on three planned stores in the Washington, D.C., area. 

  • Kroger purchases Harris Teeter for $2.5 billion

    Cincinnati -- The Kroger Co. has reached an agreement to purchase all outstanding shares of Harris Teeter Supermarkets for $49.38 per share in cash, or about $2.5 billion. Kroger will finance the transaction with debt and also assume about $100 million of debt from Harris Teeter.

    Harris Teeter operates 212 stores in North Carolina, Virginia, South Carolina, Maryland, Tennessee, Delaware, Florida, Georgia and the District of Columbia primarily in the Carolinas. The company had revenues of approximately $4.5 billion for fiscal year 2012.

  • ShopperTrak: Back-to-school sales, traffic to increase

    Chicago -- Parents will shop and spend more during the back-to-school season this year than they did last year, according to ShopperTrak. The company projects that national retail sales will rise 4.3% in August, and retail foot traffic will increase 0.6%, when compared to the year-ago period.

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