Mass Merchant

Restaurants, off-price retailers, dollar stores and furniture outlets are likely to remain firmly in the brick-and-mortar corner even with the continued rise of online shopping.   That is according to a new report by JLL, which explores the relationship between how shoppers value goods and the way 13 retail categories will be sold.  

Riverstone Capital Group has purchased the 43,199-sq.-ft. Shops at Lexington Circle in the Atlanta suburb of Peachtree City.   Anchored by a Sprouts Farmers Market and located on the West Highway 54 retail corridor, the property offered for sale by Mirabeland Investments and Concordia Properties was not on the market long, according to the deal’s broker.  

Disney's marketing firepower will be on full display starting at  12:01 a.m. on Friday, Sept. 1, when it launches a global merchandise promotion — complete with augmented reality — of toys and products inspired by its upcoming film, "Star Wars: The Last Jedi."  

That didn't take very long.    Amazon said on Thursday — the day after the Federal Trade Commission gave the green light to the deal — that its $13.7 billion acquisition of Whole Foods Market will close on Monday Aug. 28. Starting that same day, Whole Foods will offer lower prices on select products. And with time, Amazon will place lockers in Whole Food stores, and make Amazon Prime the grocer's customer rewards program.   

Sears Holdings Corp.'s second-quarter earnings beat the Street as it benefitted from cost-saving initiatives. But it continued to struggle with weak traffic and declining sales, and added 28 more locations to its long list of store closings.    Sears reported that its second-quarter loss narrowed to $251 million, or $2.34 per share, in the quarter ended July 29, helped by cost savings resulting from the streamlining of operations and store closings.  

On Sept. 11, Minsok Pak will step into the role of executive VP, chief strategy and innovation officer, for Target Corp.    In the Q&A below, posted on Target's website, the retailer spoke with Pak about his past work with consumer brands, and the challenges facing retail today.   

Chains close stores, and chains open stores. Legendary cataloger and online retailer L.L. Bean is one of the latter, opening its 33rd store outside of Maine and its fourth in the state of Virginia.   This week’s debut came at The Shops at Stonefield, a 265,000-sq.-ft. lifestyle center in Charlottesville that was acquired by O’Connor Capital Partners last year.  

An 11-year veteran of Canadian department store giant HBC is stepping down.    HBC, whose banners include Hudson's Bay, Saks Fifth Avenue, and Lord & Taylor, announced that Don Watros, president of HBC International, has made the decision to leave, effective September 29, 2017. The company did not name a successor.