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Mass Merchant

  • The Opus Group breaks ground on Glen Ellyn, Ill., center

    Chicago -- The Opus Group has begun construction of a 31,175-sq.-ft. center in Glen Ellyn, Ill., near Chicago. A 20,300-sq.-ft. The Fresh Market will anchor the project.

    The site, a vacated car dealership, will include patio seating and 186 parking spaces.

    The center is 75% leased. In-line tenants include Great Clips and the first Tide Dry Cleaners in the Chicago area.

    Serving the Glen Ellyn and North Wheaton communities, the center is slated to open in late 2013.

     

  • Target delivers the dividends

    The Target board of directors demonstrated its faith in the company’s cash generating capabilities on Wednesday and agreed to up the company’s quarterly dividend 19% to 43 cents a share.
     
    The hefty increase ups the annual payout to $1.72 and moves the company closer to a long-term commitment to increase the full-year dividend amount to $3 by 2017. In addition, the company has established a target of growing earnings per share to $8 over the same time frame, up from $4.26 last year.

  • A.T. Kearney: Brazil tops among developing countries for retail investment

  • Shopko plans five new Shopko Hometown stores

    Green Bay, Wis. – Shopko intends to open five  stores under its Shopko Hometown banner in Afton, Wyo., St. Peter, Minn., and Winneconne, Ellsworth and Tomahawk, Wis., in late fall of this year.

    The Shopko Hometown format is designed to serve smaller rural communities with the same product assortments available in larger areas and Shopko currently operates more than 180 stores in this format.

  • Target’s first round of stores in Canada receives LEED certification

    MISSISSAUGA, Ont. -- Target announced that its first 24 store locations in Ontario (Canada) have been awarded LEED (Leadership in Energy & Environmental Design) certification. As previously announced, the discounter is seeking LEED certification for all 124 stores scheduled to open in Canada this year.

  • Target increases dividend by 19.4%

    Minneapolis -- The Target board of directors demonstrated confidence in the company’s cash generating capabilities on Wednesday and agreed to up the company’s quarterly dividend 19% to 43 cents a share.
     
    The hefty increase ups the annual payout to $1.72 and moves the company closer to a long-term commitment to increase the full-year dividend amount to $3 by 2017. In addition, the company has established a target of growing earnings per share to $8 over the same time frame, up from $4.26 last year.

  • Jones Lang LaSalle brokers Hancock Village sale

    Richmond, Va. -- Jones Lang LaSalle has closed the sale of phase I of Hancock Village on behalf of Edco in Richmond, Va.’s Chesterfield submarket.

    Cole Real Estate Investments purchased the 153,853-sq.-ft. shopping center anchored by Dick’s Sporting Goods and Hobby Lobby. A Walmart Supercenter shadow-anchors the development.

    JLL said the center is 100% leased.

     

  • CEO search for OfficeMax, Office Depot merged co. underway

    OfficeMax and Office Depot have tapped global talent management consultancy Korn/Ferry International to assist the CEO selection committee in finding a CEO for the combined company in the pending merger.

    Dennis Carey, vice chairman of Korn/Ferry International, is leading the search. The CEO selection committee is co-chaired by Office Depot board member Nigel Travis, chairman and CEO of Dunkin' Brands and OfficeMax board member Jim Marino, former president and CEO of Alberto Culver Company.

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