Mass Merchant

Same property net operating income during the first quarter was up 3.2% at Brixmor Property Group thanks to aggressive redevelopment efforts, said the company’s CEO.    "While the overall retail environment brought an increase in announced retail bankruptcies and store closings, our portfolio continued to benefit from healthy tenant demand, resulting in 1.9 million sq. ft. of new and renewal leases executed in the first quarter at blended comparable rent spreads of 16.4%," said James Taylor in a statement.

Hudson’s Bay Company is losing its finance head.   The retailer said that CFO Paul Beesley has made the decision to resign in order to return home to Canada to be closer to his family. Beesley will continue in his role over the next two months to ensure a smooth transition. His last day with HBC will be July 7. HBC has engaged an executive search firm to assist in recruiting a new CFO.  

The Lone Star state is set to get a big dose of Crayola color.    The iconic brand will open a Crayola Experience at The Shops at Willow Bend, Plano, Texas, in spring 2018. This is the fourth location for the attraction, which also has locations in Orlando, Fla., Bloomington, Minn. (at Mall of America), and its hometown of Easton, Pa.      

Automation could drive Amazon’s grocery business in more ways than one.    Not only will a focus on automation prime the online giant’s AmazonFresh operation to disrupt the grocery industry, but it could also help the endeavor reach a breakeven point, according to CNBC.  

Macy’s has put part of its iconic State Street store in Chicago’s Loop district on the selling block.   The top half of the building, floors eight through 14, is on the market, the Chicago Tribune reported. Altogether, the space for sale takes in some 650,000 sq. ft., the report said Macy's plans to continue owning the lower floors, which include retail space.  

Target Corp. is beefing up its presence in the Big Apple — and also testing a service to give city dwellers a break from lugging their purchases home.      The discounter announced plans to a smaller-format store on the city’s Lower East Side in March 2018. The 22,500-sq.-ft. store — one-fifth the size of a regular Target — will be on the second level of the Essex Crossing development, with more than 500 rental units above it. The mixed-use building will also include a Trader Joe’s.  

The largest U.S. chain dedicated to recreational vehicles and a group of liquidations have come together to thrown a lifeline of sorts to outdoor retailer Gander Mountain.   

Although Amazon's sales advanced by a respectable 23% over the quarter (do link to our story yesterday), the pace of growth at the online behemoth remains much slower than it was over most of the prior fiscal year. Some of this is the result of a less favorable exchange rate diluting contributions from the international business. However, some is also down to a more challenging demand environment in North America which has limited spending uplifts on products within Amazon's core territory.