Supermarket/Grocery

Chicago -- A new study of global wealth and spending patterns by A.T. Kearney’s Global Consumer Institute projects $12 trillion in new consumer spending over the next decade, with the United States accounting for 25% of the spending growth. Spending on food will account for about 10% of the overall total.

Milwaukee -- The Milwaukee office of Opus Development Corp. said that Hallmark Gold Crown will occupy the final space of its Shoppes at Fox River Phase I retail development in Waukesha, Wis.

The addition of Hallmark makes the 273,000-sq.-ft. Phase I 100% occupied, including a 132,000-sq.-ft. Target and a 60,000-sq.-ft. LEED-Silver certified Pick ‘n Save grocery store.

WEST DES MOINES, Iowa — Randy Edeker, has been named chairman and CEO of Hy-Vee. Edeker will be only the fourth person in the company's 82-year history to be elected to this position. He will succeed Ric Jurgens, who is retiring June 1 following a 43-year caeer with the company.

Edeker most recently served as President and Chief Operating Officer, and will now hold the offices of chairman, CEO and president of Hy-Vee.

Paris -- The world’s second largest retailer behind Wal-Mart said Thursday that its leadership will change hands earlier than planned. France's Carrefour said that current CEO Lars Olofsson had retired at a board meeting on Wednesday, and that incoming chief Georges Plassat will take over as chief executive immediately.

Plassat joined Carrefour last month as COO. He was supposed to make his CEO transition effective June 18. He will take charge of an aggressive turnaround effort intended to reverse years of underperformance.
 

Tucson, Ariz. -- Commercial Retail Advisors said that Tuesday Morning will be relocating a store to the neighborhood center Ventana Village.

The new, 10,000-sq.-ft. Tuesday Morning store is slated to open on Aug. 1.

Ventana Village is anchored by Bashas' Marketplace.
 

ISSAQUAH, Wash. — Costco reported net sales of $21.85 billion for the third quarter, an 8% increase over sales of $20.19 billion for the same period last year. Comparable-club sales for the quarter increased 5%, which consisted of a 5% increase in the United States and a 5% increase internationally. Excluding the impact of fuel, total comps were still up 5%, however U.S. comps were 4% and international comps were 8% when adjusted for gasoline inflation.

Issaquah, Wash. -- Costco Wholesale Corp. reported Thursday that net income for the quarter ended May 6 surged 19% to $386 million, from $324 million in the same period last year.

Revenue rose 8% to $22.3 billion from $20.6 billion, beating Wall Street’s expected $22.1 billion in revenue. Same-store sales increased 5%.

The company said it plans to open six additional warehouse clubs before the end of fiscal 2012.
 

I’ve read a few thought-provoking articles recently about the state of the retail real estate marketplace that make the observation that A malls are generally doing better while B malls are continuing to tread water—or even beginning to fade away. Once again, I have to disagree on the B malls.