Retail

Philadelphia – The Pep Boys - Manny, Moe & Jack has acquired 17 Discount Tire Centers in Southern California from AKH Co. These 17 stores are located throughout the greater Los Angeles market, from Bakersfield to Orange County.

Milford, Conn. – Subway is entering a cross-platform advertising partnership with NBCUniversal for its new interactive game show “Million Second Quiz.” In addition to providing gift cards to contestants during the course of the show, Subway will offer photo opportunities and social media engagements.

Other aspects of the joint campaign will include messaging on Facebook and Twitter, a prize of a year’s worth of foot-long subs via an NBC radio promotion, and a Subway presence in the live stream both online and in the MSQ App.

Boston -- City Sports announced that it will open its latest retail store this week at 225 Franklin Street, marking the company's eighth store in its hometown Boston market and first in the city's financial district.
 
The Franklin Street store will open the week of Sept. 9, giving a fresh look to the space once occupied by State Street. This will be the brand's second new store in the Boston area this year, following the opening of City Sports' Chestnut Hill location at The Street this past spring.

Philadelphia -- Five Below saw net income surge to $4.1 million for the quarter ended August 3, up from $1.2 million in the year-ago period. Sales climbed 34.9% to $117.1 million from $86.8 million, and same-store sales increased 6.6%. The company had, by the quarter’s end, opened 32 of its previously announced 60 new stores on tap for 2013.

Dallas – Neiman Marcus is reportedly closing in on a deal to be purchased by Ares Management and the Canada Pension Plan Investment Board for $6 billion.

Greensboro, N.C. – The Fresh Market has named Randall A. Young as its senior VP real estate and development effective Sept. 30. Young, 56, will oversee the company's real estate and development functions including market strategy development, site selection, store design, construction, store relocations and renovations.

Young most recently served as VP, real estate at Advance Auto Parts. He has also held a variety of real estate and construction roles at McDonald's Corporation, among other companies.

Pittsburgh – Dick’s Sporting Goods reopened a newly renovated store in Columbia, S.C., on Sept. 8 and is opening a brand new store in South Plainfield, N.J., on Sept. 13.

The remodeled 59,000-sq.-ft. store in Columbia includes additional specialized services and hands-on customer experiences, including a golf simulator, a club fitting center, putting green, an archery lane with an on-site bow technician, and bike safety inspections, custom fittings, tune-ups and assembly.

Pennsylvania Real Estate Investment Trust is repositioning its Moorestown Mall in suburban Moorestown, N.J., by bringing in tenants associated with urban life.

For instance, a number of new tenants include independent chef-owned restaurants like those found in urban edge neighborhoods.

The goal is to reposition the suburban mall with an urban environment.