Mass Merchant

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.

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.

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.

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.

Total U.S. Shopper Traffic in Retail Stores and Malls for May 2013

Shopper activity had a healthy gain last month. Retail foot traffic increased 9% in May compared to April 2013, consistent with generally positive month-over-month retail traffic trends. Foot traffic for May 2013 increased 6.9% compared to the same month in 2012.

H&M is collaborating with Parisian designer Isabel Marant on a fall line, inspired by her signature style, featuring clothing and accessories for teenagers, women and for the first time, men.

The retailer will roll out the collection Nov. 14 in approximately 250 of its stores worldwide.

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.