Mass Merchant

Taking the long view of what is expected to be moderate consumer demand in the United States, it is apparent the primary sources of growth for retailers are to gain share from competitors and capture a larger share of wallet from existing customers. It’s why there is so much effort expended on the loyalty front, as retailers know success is dependent on keeping existing customers happy and rewarding them ever more generously for their loyalty.

New York City -- Centro NP Residual Holding LLC said Friday it has sold a portion of its interest in 25 shopping centers and formed a joint venture with Inland American CP Investment, LLC, a wholly owned subsidiary of Inland American Real Estate Trust.

The new joint venture has secured $310 million of term loans with J.P. Morgan and Goldman Sachs, which mature in 10 years and are secured by assets within the joint venture.

Seattle -- Retail design firm Callison said Tuesday it has added Shawn Rush as associate principal in the company’s Seattle office.

Rush, a LEED AP, will focus on business development in the Global Retail studio, which includes national accounts and workplace interiors. Her role also consists of identifying developing trends and targeting market opportunities for Callison’s domestic offices.

Moorestown, N.J. -- Philadelphia-based Pennsylvania Real Estate Investment Trust (PREIT) said Tuesday that locally owned Italian restaurateur Pizzicato Ristorante has opened at Moorestown Mall, in Moorestown, N.J.

The 3,059-sq.-ft. restaurant, a BYO establishment, is located next to Pei Wei.

The 1.1-million-sq.-ft. Moorestown Mall is owned and managed by PREIT, and anchored by Macy’s, Lord & Taylor, Sears and Boscov’s.

While such retailers as Kohl’s, Walmart and Office Depot were receiving accolades for their sustainability efforts the past few years, Target was seldom mentioned in the same breath. Target wasn’t exactly destroying the planet, but it was far less vocal and precise than others about its efforts in the area of sustainability. Not any more. The company last week established some clear goals regarding resource usage, waste elimination and carbon footprint reduction and a time frame in which to achieve them.

Minneapolis -- Best Buy Co. reported an unexpected decline in fiscal third-quarter profit Tuesday, as lower demand for televisions and videogames led to a sales shortfall in the United States. The chain cut its full-year forecast.

Best Buy Co. said that its third-quarter net income fell 4% to $217 million, while revenue fell 1% to $11.89 billion. Same-store sales fell 3.3%. Results missed Wall Street projections.

Best Buy said it has cut its full-year outlook, as it faces stepped-up competition from online and discount stores.

Making your NRF Show plans? Don’t forget to allow yourself time to check out the Big Apple’s exciting retail scene. Here’ s a quick hit list of the city’s newest retail stars:

MINNEAPOLIS - Best Buy reported net earnings of $217 million, or 54 cents per diluted share, for its fiscal third quarter, compared with $227 million, or 53 cents per diluted share, for the prior-year period.