Mass Merchant

Chicago -- Meeting the needs of aging consumers offers retailers and brand marketers a major opportunity going forward, according to a new study by global management consulting firm A.T. Kearney.

Mature consumers form a worldwide market segment that spent $8 trillion in 2010 and will be spending $15 trillion annually by the end of this decade, the study estimated. Based on current worldwide demographic trajectories, in five years there will be more people over the age of 60 than under five; in 30 years, there will be more people over 60 than under 16.

Cincinnati -- Macy’s said it plans to hire approximately 78,000 seasonal associates for its Macy’s and Bloomingdale’s stores, call centers, distribution centers and online fulfillment centers nationwide for the 2011 holiday season. The total is up about 4% from the approximately 75,000 seasonal associates the chain hired last year.

“We expect additional hiring this year given the continued sales growth in our business – both in-store and online,” said Terry J. Lundgren, Macy’s, chairman, president and CEO.

Pittsburgh -- Dick’s Sporting Goods announced it is opening two stores this week, in Yonkers, N.Y., and Norcross, Ga.

The Yonkers location will be the retailer's 32nd store in the state of New York and their 458th nationwide. The Norcross location will be the retailer's fifteenth store in the state of Georgia and their 459th nationwide.

 

New York City -- Retailers should expect small gains in 2011 holiday sales, Deloitte forecast on Monday. The company’s retail & distribution practice expects total holiday sales to reach between $873 and $877 billion, representing a 2.5 to 3% increase over last season.

MINNEAPOLIS — Target's entry into Canada is nearing completion, as the company Friday finalized its real estate transaction with Zellers Inc. with the selection of 84 additional Zellers leases, bringing the total number of leases selected, including an initial group of 105 leases selected in May, to 189. From this second group, Target has acquired the leasehold interests for 29 locations, the vast majority of which will open as Target stores beginning in 2013. The remaining leases have been or will be sold to other Canadian retailers or back to landlords.

Savannah, Ga. -- Citi Trends said Friday that it would cut jobs and open fewer stores than it planned in an effort to save money after losing $10 million in the second quarter. The company said it would open new stores only where it had already made commitments, resulting in about 55 new locations in 2011 and five in 2012.

The company also said it would cut 40 jobs at its stores, distribution centers and corporate offices in Savannah, Ga.

Arlington, Va. -- The Retail Industry Leaders Association (RILA) thanked California Governor Jerry Brown for signing legislation that would help level the playing field between online-only retailer Amazon.com and brick-and-mortar stores across California.

Chattanooga, Tenn. -- CBL & Associates Properties said Thursday that it has agreed to acquire Northgate Mall in CBL’s hometown of Chattanooga, for $11.5 million in cash.

The mall was listed for sale through an online auction. CBL anticipates closing on the transaction by Oct. 6.

Voorhees, N.J. -- Philadelphia-based Pennsylvania Real Estate Investment Trust announced Thursday that the Rizzieri School for the Healing Arts has opened at Voorhees Town Center on the Town Center Boulevard.

The school is an expansion of the current Rizzieri Studio Salon and Rizzieri Aveda School for Beauty & Wellness.

New Rochelle, N.Y. -- Welco Realty, an X Team Partner, said it has arranged a lease representing Pier 1 Imports for Rego Center, in Queens, N.Y., for 8,500 sq. ft.

The firm represented both the landlord and tenant for leases at Bay Plaza Shopping Center, Bronx, N.Y., for 9,599 sq. ft. and at Summerhill Square, in East Brunswick, N.J., for 9,000 sq. ft.