Mass Merchant

Frisco, Texas -- The City of Frisco executed a Memorandum of Understanding with Forest City Development and its partner, Ernest Mahard Jr. to develop a 320-acre mixed-use development on the southwest corner of the Dallas North Tollway and U.S. Highway 380. 

Bounded by Virginia Parkway and County Road 26, this development will encompass retail, residential, office, entertainment, hospitality, municipal parks and services. 

Bronx, N.Y. -- New Rochelle, N.Y.-based Welco Realty Inc., an X Team partner, announced that Daffy’s opened its first store in Bronx, N.Y.  

The retailer opened a store in Bay Plaza Shopping Center, one of the largest strip shopping centers in New York City. Welco Realty negotiated the deal on behalf of the landlord, Prestige Properties & Development Co.  

NEW YORK — Each year, the graduating class of the Master of Professional Studies degree program in cosmetics and fragrance marketing and management at FIT researches and forecasts trends or growth concepts within a specific area of the beauty industry, which they then present to an audience of industry executives.

Target sponsored this year's presentation titled "Beauty For All: Innovations in Mass Retail." On hand to deliver keynote remarks during the event was Will Setliff, VP marketing for Target.

Despite progress on several key merchandising initiatives during the first quarter, it wasn’t enough to prevent Walmart from logging a 1.1% decline in same-store sales, losing customer traffic and introducing the possibility the second quarter will bring more of the same. The company’s forecast for second quarter same-store sales envisions a range of possibilities between a 1% decline and 1% increase.

SEATTLE — Amazon.com has launched an electronics trade-in service that allows customers to exchange their used electronics for Amazon.com gift cards. According to Amazon.com, customers can trade in multiple items, including video games, tablets and cell phones, at the same time by sending in one box. 

Columbia, S.C. -- Edens & Avant announced Wednesday the hiring of Kerry Cavanaugh as its new VP marketing.

With over a decade in global brand and product innovation management at Procter & Gamble, Cavanaugh will lead Edens & Avant in a new strategic marketing direction focused on brand building and consumer innovation in retail.

At Edens & Avant, Cavanaugh will oversee the corporate and center specific marketing of 124 retail properties located in urban markets up and down the east coast.

New York City -- New York & Co. reported Thursday a loss of $3.7 million in the first quarter, compared with a loss of $4.9 million a year ago.

Sales rose to $239.4 million from $237 million. Same-store sales increased 2.5%.

The company said it expects to close eight stores and remodel six existing locations, ending the second quarter of fiscal year 2011 with 545 stores, including 24 outlet stores.

Sales at Walmart’s international division increased 11.5% to $27.9 billion, aided to a large degree by a $1.3 billion currency exchange benefit, without which the sales increase would have been a more modest 6.2%.