Mass Merchant

Union, N.J. -- Bed Bath & Beyond reported Wednesday that profit for the fourth quarter ended Feb. 26 rose 25% to $283.5 million, compared with $226 million a year earlier.

The company, which forecast earnings growth for the current year that would beat Wall Street estimates, also said it expects to open 45 new stores this year across its banners , which also include Christmas Tree Shops and buybuy Baby, and expects to continue renovating and relocating existing stores.

MINNEAPOLIS -- Target announced that it will offer an exclusive version of Alison Krauss & Union Station's "Paper Airplane," Krauss’ 14th album and the band’s follow-up to 2004’s Grammy-award-winning album "Lonely Runs Both Ways." The deluxe edition of Paper Airplane is now available for pre-order at Target.com and will be offered at Target retail stores nationwide beginning April 12.

NEW YORK -- Uniqlo, a subsidiary brand of Japan-based Fast Retailing Co., announced that it will open its third New York City location at 31 West 34th Street this fall. The 34th Street store is set to open late in the fall of 2011, following the opening of the company's largest flagshop store on Fifth Avenue in early fall. Uniqlo operates a store in NYC's trendy SoHo neighborhood.

In conjunction with the news of its NYC expansion, Uniqlo announced plans to hire 1,000 retail associates and 100 supervisors from the local tri-state area.

Kearney, Neb. -- The Buckle announced Thursday that its CFO will step down by February 2012.

Giving no reason for the planned departure, the teen retailer said that CFO Karen Rhoads will continue in her position through the completion of the fiscal year, which ends Jan. 28, 2012, unless a new CFO is found before then.

The company said Rhoads plans to continue to serve on the board of directors.

New York City -- Japanese apparel retailer Uniqlo said Thursday it will open its third New York City location.

The new store, on 34th Street, set to open this fall, following the opening of the chain’s largest flagship location on Fifth Avenue earlier in the fall. Both stores will join the current Uniqlo location in Manhattan’s Soho district.
 

The complexities of running a retail business combined with low margins prevalent in the mass market leave little room for error when it comes to achieving operating profitability. For any retailer to produce a profit is quite an accomplishment, and in the case of Walmart it is even more impressive when factoring in some of the extracurricular activities that go on in its stores.

Union, N.J. -- A Seabra Foods and Koki Japanese Buffet opened at Galloping Hill Center in Union, N.J., according to Plainfield, N.J.-based Levin Management Corp., the property’s exclusive leasing and managing agent.

A Seabra Foods is a full-service grocer and will open a 30,861-sq. ft. space formerly housed by another supermarket tenant.

Koki Japanese Buffet leased 5,500 sq. ft., joining other retailers and services including Mandee, Memory Lane Hallmark, Citibank, Weight Watchers, Radio Shack and Manhattan Bagel.

Boston -- The Wilder Cos. said it has been awarded the leasing and management contract for Wayside Commons, an open-air shopping center in Burlington, Mass.

The contract was awarded by UBS Realty Investors of Hartford, Conn.

Wayside Commons is a 195,100-sq.-ft. outdoor center home to one of only three full-line, 30,000-sq.-ft. signature L.L. Bean stores in Massachusetts as well as a mix of retailers including Arhaus Furniture, Coldwater Creek, Eileen Fisher Company Store, Stellabella Toys and Capital Grille.