Mass Merchant

Washington, D.C. -- Douglas Development said that specialty candy store IT’SUGAR will join soft-serve yogurt shop FrozenYo and bar concept Jackpot Tavern in Chinatown, across from the Verizon Center and Gallery Place Metro Station, in Washington, D.C.

New York -- Bloomingdale’s plans to open a 167,000-sq.-ft., three-level store at the Ala Moana Center in Honolulu in fall 2015. It will be the retailer’s first location in the state of Hawaii.

The new store will be part of a redevelopment of a portion of Ala Moana, by GeneralGrowth Properties. Construction will begin in 2014. The upscale chain of department stores, owned by Macy’s, will join a Macy’s store which already operates at the shopping center.

CINCINNATI — Bloomingdale’s is heading to Hawaii for the first time. It plans to open a 167,000-sq.-ft., three-level store at the Ala Moana Center in Honolulu on the Island of Oahu in fall 2015. 

The new store will be part of a redevelopment of a portion of Ala Moana, Hawaii’s premier shopping destination, by General Growth Properties. Construction will begin in 2014. The upscale chain of department stores, owned by Macy’s, will join a Macy’s store which already operates at the shopping center.

Beachwood, Ohio -- DDR Corp. announced an agreement to acquire a portfolio of prime power centers from its existing joint venture with Blackstone Real Estate Partners VII.  The acquisition is slated to close in fourth quarter 2013.
 
The joint venture between Blackstone and DDR currently owns 44 shopping centers, and DDR will acquire Blackstone's 95% common equity ownership interest in 30 of the shopping centers for $1.46 billion.

San Diego -- Despite being the most tech-savvy generation in history, Generation Y, the 80-million strong cohort of Americans between the ages of 18 and 35, has not forsaken shopping in stores for online purchasing – as long as retailers keep their offerings "fresh" and interesting, according to a new report from the Urban Land Institute (ULI).

BENTONVILLE, Ark. — Same store sales at Walmart's U.S. stores declined 1.4% in the first quarter, but the retailer forecasts comps should rebound during the second quarter. 

Sales were just below Wall Street expectations as the giant retailer struggled with a number of issues that impacted its U.S. sales, from the payroll tax increase to an unseasonably cold spring to delayed tax returns. The discounter also scaled back its earnings expectations for the current three-month period.

TEMPE, Ariz. — Walmart has opened a new small-format store on the campus of Arizona State University as part of a pilot program.

The company announced its plans to open the 5,000-sq.-ft. store in the Vista del Sol plaza at the university in late March of this year. The store includes health and wellness services, a pharmacy, convenient shopping services, convenience items and merchandise tailored to the campus. The Walmart on Campus store is the second in the country, the first having opened at the University of Arkansas in Fayetteville in January 2011.

Bentonville, Ark. -- Wal-Mart Stores on Thursday reported profit and sales that were just below Wall Street expectations as the giant retailer struggled with a number of issues that impacted its U.S. sales, from the payroll tax increase to an unseasonably cold spring to delayed tax returns. The discounter also scaled back its earnings expectations for the current three-month period.

Wal-Mart’s net income rose 1.1% to $3.8 billion. Revenue edged up 1%, to $113.4 billion.