Mass Merchant

Phoenix -- Los Angeles-based Karlin Real Estate said it has acquired through foreclosure two Phoenix-area shopping centers totaling nearly 220,000 sq. ft.

The move follows the firm's purchase of a non-performing loan portfolio with an aggregate unpaid principal of approximately $65.5 million.

The Boulevard at Surprise Pointe is a 201,223-sq.-ft. lifestyle center in Surprise, Ariz., anchored by a Walgreens and UltraStar Cinemas.

New Iberia, La. -- Centro Properties Group announced that T.J. Maxx recently opened a new 24,035-sq.-ft. store at Lagniappe Village, located in New Iberia, La.

New York City-based Centro owns the shopping center.

Dallas -- Cypress Equities Cos. said it has expanded its leasing team with the addition of Giancarlo “GC” Carriero, who joins the firm as leasing manager.

Carriero is responsible for developing and leveraging relationships with potential tenants and facilitating leasing solutions for Cypress’ nationwide retail and mixed-use projects. 

He was previously leasing representative for General Growth Properties.
 

Magnolia, Texas -- Jacksonville, Fla.- based Regency Centers said it has leased restaurant space in Magnolia, Texas, at Westwood Village to Five Guys Burgers and Fries.

Five Guys leased 3,127 sq. ft., bringing the center to 97% leased. The restaurant is now open for business.

Westwood Village is a 310,000-sq.-ft. community center anchored by Target, Ross Dress For Less, and T.J. Maxx.

Bentonville, Ark. -- A report Thursday by Bloomberg said that Wal-Mart Stores is battling rising commodity prices by working with its suppliers to avoid price increases, among other strategies.

“We find creative ways to work around it,” Doug McMillon, president and CEO of Wal-Mart International, told Bloomberg. “First we try to keep our costs as low as we can, secondly work with our supply chain as best we can.”

Topeka, Kan. -- Collective Brands, parent to the Payless ShoeSource and StrideRite brands, announced Wednesday that its chairman and CEO Matthew E. Rubel has resigned, effective immediately.

Rubel said in a release that he is leaving to pursue “a new chapter” in his career, and the company has offered no additional explanation.

Collective Brands said it is searching for a permanent replacement.

New York City -- Macy's and some 4,000 of its New York-area workers said Thursday they have reached a tentative contract agreement after a night of negotiations.

The agreement, if ratified, will avert what could have been the department store chain's first strike in nearly 40 years.

"Following an all-night negotiating session, Macy's is pleased to have reached a tentative agreement with Local 1-S of the RWDSU on a new five-year agreement," Jim Sluzewski, Macy's spokesman, said.

DALLAS — Tuesday Morning has revised its fiscal year guidance and now expects total net sales to be in the range of $820 million to $830 million and comparable-store sales to be slightly negative for the full year of fiscal 2011. Diluted earnings, based on these sales results, are now expected to be approximately 25 cents to 30 cents per share for fiscal 2011, the company.

New York City -- Wal-Mart Stores is ramping up the opening of its mid-sized Neighborhood Market format, which is being renamed Walmart Market, said  Bill Simon, president and CEO, Walmart U.S., on Wednesday at the William Blair & Co. Growth Stock Conference in Chicago.

The Market stores, which average around 42,000 sq. ft., are delivering returns on the same level as supercenters, Simon said, and can be approved and built in less time.

Seattle -- Starbucks Corp. launched an application Wednesday that lets customers purchase goods with their Android smartphones. The company already has similar applications nationwide for BlackBerry and iPhone and iPod touch in January.

The application also allows customers to load their Starbucks loyalty card accounts, check card balances and find stores nearby, and it notifies customers of promotions and other discounts.