Mass Merchant

Suffern, N.Y. -- Ascena Retail's net income plunged 94% in its fiscal fourth quarter, dragged down by costs related to its acquisition of Charming Shoppes Inc. Its adjusted earnings topped Wall Street's view.

Ascena, owners of the Dressbarn, Maurices and Justice, announced in May that it was buying Charming Shoppes, whose divisions include Lane Bryant, Fashion Bug and Catherines Plus for approximately $890 million. Ascena is in the process of closing Fashion Bug's stores.

Boyertown, Pa. -- Brixmor Property Group said that Dollar Tree has opened a 9,600-sq.-ft. store at Boyertown Shopping Center, located in Boyertown, Pa.

Brixmor, based in New York City, is the owner of Boyertown Shopping Center.

MINNEAPOLIS — Target is opening its first store in East Peoria, Ill. in March 2013. The 135,000 sq. ft. store, located at Clock Tower Drive and West Washington Street, will be part of the 86-acre East Peoria Downtown development.

According to Target, the new store will feature the typical Target assortment along with a selection of fresh produce, fresh packaged meat and pre-packaged baked goods as well as a Starbucks and a Target Pharmacy to further enhance guests’ experience. The store will employ approximately 150 to 200 team members.

Oak Brook, Ill. -- Inland Diversified Real Estate Trust announced it has raised over $1.1 billion of investor capital, which will be used to continue the company’s acquisitions of a diversified portfolio of commercial real estate properties.

“We believe that we have built an outstanding portfolio of stable, performing commercial real estate assets with very high occupancy, generating sustainable distributions for our investors,” said Barry Lazarus, president and COO of Inland Diversified.

WAYNE, N.J. — Toys"R"Us revealed its 2012 hot toys list Wednesday, but not before Walmart did the same, giving the discounter a head start and the opportunity to poke fun at the toy retailer's earlier announced toy reservation program.

South Gate, Calif. -- Primestor Development announced that Azalea Regional Shopping Center has launched construction in South Gate, Calif. The 380,000-sq.-ft. project, expected to be completed by early 2014, will include retailers, restaurants and services in a modern setting with water features, a large open-air plaza, Wi-Fi and gathering areas.

Stockholm, Sweden -- Ikea said Monday that its CEO Mikael Ohlsson will step down effective Sept. 1, 2013, and will be succeeded by Peter Agnefjall, current country manager of Ikea Sweden.

To prepare Agnefjall for his new role, Ikea said that he will serve as VP of the company beginning in 2013 until his September transition.

BENTONVILLE, Ark. — Walmart has launched part of its Fighting Hunger Together fall initiative to provide meals to communities in need.