Mass Merchant

Amazon is gaining a significantly larger share-of-wallet for everyday household items — and the retailer continues to build momentum.  

Riverpoint Center, a 211,000-sq.-ft. grocery-anchored center in Chicago’s Lincoln Park neighborhood, has been acquired by Federal Realty Investment Trust for $107 million.   Mid-America Rea Estate brokered the sales of the center, which is anchored by Jewel-Osco, Marshalls, and Old Navy. The name of the seller was not disclosed.   Riverpoint Center is located at the northwest corner of West Fullerton and North Clybourn Avenues in Lincoln Park, an affluent neighborhood on the lakefront north of downtown.

A mall-to-outlet center conversion underway in Rochester, New York, took a big step forward this week with the acquisition of a Macy’s building on the property.  

The  retail community has had a curious relationship with the Ivanka Trump brand over the last year or two. Some prominent brands proudly display her clothing, shoe and accessories lines. Others carry it, but really don’t highlight it too much, and some have decided  to drop it all together.   

Hudson’s Bay Co. mirrored the challenges confronting the department store industry as it swung to a loss in its fourth quarter  and said it would cut costs and capital spending.   

Walgreens is still confident in its ability to close the Rite Aid transaction, but will force the issue if it comes to that, Stefano Pessina, executive vice chairman and CEO Walgreens Boots Alliance, told analysts Wednesday morning.  

As German discount giant Lidl prepares to enter the U.S. market, Save-A-Lot is bringing in a new chief executive officer whose resume includes a 13-year stint at the European chain.      The discount supermarket chain has appointed Kenneth McGrath as CEO, effective April 21, 2017. He succeeds Eric Claus, whose departure was described as a “mutually agreed” parting of the ways.   

Dollar General is set to grow its already considerable footprint through an acquisition.   The discounter will acquire all 323 stores from Dollar Express, according to the Charlotte Observer.