Mass Merchant

Paramus, N.J. -- Ripco Real Estate has leased the former Fortunoff Building at 150 Route 17 northbound in Paramus, New Jersey, to Bob’s Discount Furniture.

Without a permanent tenant since July 2009, Ripco was hired in mid-October 2014 to lease the property.  Five months later, through the efforts of Ripco’s New Jersey team, lead by Ira Kerner and Alison Horbach, the landlord has executed a lease with the discount retailer.

New York -- Wal-Mart Stores has reached a settlement with the two children of James McNair, the comedian who was killed in the highway accident that also seriously injured comic and former “Saturday Night Live” performer Tracy Morgan, the Associated Press reported.
 
Citing documents filed in New York's Westchester County, the AP reported the children were awarded a total of $10 million. The deadly crash occurred on June 7, 2014, on the New Jersey Turnpike.
   

Value-oriented food retailer Smart & Final Stores Inc. plans to accelerate its expansion plans after posting double-digit sales growth in the fourth quarter.

Wayne, N.J. -- Toys “R” Us announced that it has named Reg McLay as senior VP, Babies “R” Us business, effective March 30.
     
McLay will lead the Babies “R” Us merchandising team in the U.S. in driving product innovation, as well as differentiation in services and offerings across its stores nationwide. He will report to Hank Mullany, president, Toys “R” Us, U.S.
 

Commerce Calif. -- Value-oriented food retailer Smart & Final Stores Inc. plans to accelerate its expansion after posting double-digit sales growth in the fourth quarter.

In case you missed it, the first quarter edition of Walmart Supplier News is now available. For perspective on Walmart COO Judith McKenna’s quest for operational excellence and a wide range of Walmart-related topics click here. 

Boston -- Walmart narrowly leads the one-stop basket assessment versus Target, according to the latest Kantar Retail basket pricing study, which examines a basket of grocery, HBA, and general merchandise items. Study findings indicate Target’s overall basket is 3.5% more expensive than Walmart’s and Walmart leads in each of the sub-baskets, with the strongest lead in general merchandise.
Notable findings from the study include:

Time may be running out for Toys "R" Us shoppers to ride the Ferris wheel at the retailer's flagship store in Time Square.

Toys "R" Us will not be renewing the lease of its Manhattan flagship, according to various reports. The lease for the massive 110,000-sq.-ft. retail space, at 1514 -1530 Broadway, between 44th and 45th Streets, is set to expire at the end of January.