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Mass Merchant

  • Gap not looking great

    Gap Inc. unveiled preliminary results for the second quarter that were not very promising as Banana Republic continues to bleed. The retailer said revenue and same-store sales slipped for the month of July, and for the second quarter, which ended July 30. Gap’s net sales for the quarter were $3.85 billion, compared with $3.90 billion for the second quarter last year.

  • Regency redevelops South Florida center

    Regency Centers has demolished most of its Aventura Shopping Center in the South Florida town of the same name, and is underway with a near-total redevelopment.   The Publix grocery anchor at the center south of Hollywood is the only structure that remains, though the 35,500-sq.-ft. space will be expanded to 49,000 sq. ft. with parking below the store.   

  • Report: Walmart testing new employee scheduling system

    Walmart is testing a new scheduling system designed to improve peak-hour scheduling and gives its employees more certainty about their job schedules, the Associated Press reported.   The system was rolled out to the chain’s 650 Neighborhood Market stores in July, and could eventually be deployed across Walmart’s entire U.S. store network, according to the report.  

  • Dollar Tree cutting jobs as part of corporate restructuring

    Dollar Tree will eliminate some 370 positions as part of a corporate restructuring related to its acquisition of Family Dollar last year.   The cuts, which include 100 vacant positions at its Family Dollar store support center in Matthews, North Carolina, are part of the chain’s ongoing efforts to integrate its support functions through a shared services model.  

  • Home décor retailer to make physical debut

    Grandin Road will step into the physical space in what promises to be a frightening debut.   The direct retailer of home furnishings and décor will open a Halloween pop-up at Macy’s flagship in Herald Square in New York City. The 1,400-sq.-ft. shop will showcase Grandin Road’s Halloween decoration collection, which has grown steadily over the past decade.  

  • NewMark Merrill completes Colorado ‘lifestyle center’

    The first phase of NewMark Merrill’s redevelopment of the Village at the Peaks in Longmont, Colorado — a 500,000-sq.-ft. lifestyle center — has been completed.   The company purchased the 50% vacant Twin Peaks Mall in 2012 for $8.5 million and has since pumped $90 million into construction of the new project in a private partnership with the city of Longmont that included a $32 million public bond.  

  • Fred’s sales take a hit in July

    Fred's Inc. saw July sales drop 7% to $154 million, compared to $165.6 million in the same period last year.    Comparable store sales for the month declined 4.6%, compared with an increase of 0.7% in the year-earlier period.   Fred's total sales for the second quarter of fiscal 2016 decreased 3.4% to $527.7 million, from $546.1 million for the same period last year. On a comparable store basis, second quarter sales decreased 2% versus an increase of 0.9% for the year-earlier period.

  • Off-pricer rolls out new format

    Tuesday Morning is showing off its updated prototype at two locations.   The chain’s expanded store at Preston Shopping Center, Dallas, and new store at Parker Central Shopping Center, in Plano, feature new fixtures, flooring, improved lighting and a redesigned store layout that makes it easier for customers to shop. The format also includes an expanded assortment of goods.  
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