Mass Merchant

By Liana Hill, [email protected]

Charlotte, N.C. -- X Team International, an international alliance of retail real estate advisors, said that Charlotte, N.C.-based partner The Chambers Group has completed a lease for the first small-format Burlington Coat Factory store in Charlotte.

Scheduled to open Oct. 1 at Woodlawn Marketplace, the smaller format store will be roughly 48,000 sq. ft. and joins T.J. Maxx and Family Dollar.
 

Oxnard, Calif. -- Centro Properties Group US announced that Dick’s Sporting Goods will open a new 44,166-sq.-ft. store at Esplanade Shopping Center, located in Oxnard, Calif.

Esplanade Shopping Center is owned by Centro Properties, based in New York City.

 

Chattanooga, Tenn. -- Chattanooga, Tenn.-based CBL & Associates Properties,  announced a 6,000-sq.-ft. expansion to The Shoppes at Hamilton Place, a 125,000-sq.-ft. associated center in Chattanooga with existing anchors Ross dress for Less, Marshalls, and Bed, Bath & Beyond.

The expansion will locate in the undeveloped parcel in front of the center and will bring new retailers and restaurants to the area including Sweet Peppers Deli, Menchie’s Frozen Yogurt, and Bath Junkie.   

New York City -- RCS Real Estate Advisors announced that Moe Puri has been promoted to VP from assistant VP.

A member of the RCS Real Estate Advisors team since 2008, Puri’s primary responsibilities included re-negotiating leases on behalf of clients. He has since elevated his expertise and, as a VP, is managing several key client real estate portfolios.

Talk about visibility. Target went way beyond the norm in the retail industry earlier this year when it said that within six or seven years sales would reach $100 billion and earnings per share would double to at least $8. Expressing such a long term outlook is not without considerable risk, chief among them is the rapid pace of change in the retail industry and the fact that the competitive landscape and the factors influencing consumer demand could look very different within six or seven years.

It would appear the year is playing out much as Target’s senior executives envisioned many months ago when guidance was provided regarding how the retailer’s sales performance was likely to unfold. As expected, the second quarter same-store sales increase of 3.9% was an acceleration of the 2% gain reported during the first quarter, and now further improvement is anticipated during the third and fourth quarter judging from upwardly revised profit targets shared with investors.

ENGLEWOOD, Colo. — Sports Authority announced that Darrell Webb has been named as interim CEO of the company, replacing David Campisi who is resigning as CEO and president of the company. 

As previously reported by Retailing Today, Webb currently serves as the chairman and CEO of Jo-Ann Stores. Webb previously has held senior positions at The Kroger Company, Fred Meyer Stores and Quality Food Centers. Webb will retain his position as chairman of Jo-Ann Stores while serving as Interim CEO of Sports Authority. 

New York City -- Mexican billionaire Carlos Slim, through his Inmobiliaria Carso SA investment fund, spent $8.8 million to up his stake in Saks, according to Bloomberg. 

Slim, who was Saks’s largest shareholder before the purchases and last acquired the New York-based retailer’s shares in April 2009, raised his stake to 16% from 15.7%, the report said. Slim has made it a practice to add to his investment holdings when the markets slump.

Santa Clara, Calif. -- Best Buy, Sears and Target ranked as the top three cross-channel performers in a study by CrossView, a provider of cross-channel commerce solutions. The study, which examined the cross-channel capabilities of 25 top retailers, found that a majority of retailers are providing an unsatisfactory cross-channel experience. 

Highlights of the study, which is due to be released Aug. 30, include: