Retail

The Northfield Crossing Shopping Center in Murfreesboro, Tennessee, that featured a Hastings Entertainment store has been purchased by Baker Storey McDonald Properties on behalf of an unnamed client. Terms of the sale were not disclosed.   Meanwhile, RCS Real Estate Advisors announced it would be auctioning off 120-plus store leases for the bankrupted music, movie, and video game retailer. The chain’s inventory was purchased by Hilco Merchant Resourses and Gordon Bros. Retail Partners in a Chapter 11 filing.   

The Rite Aid Foundation announced Monday a $50,000 donation to the American Red Cross Louisiana Capital Area to help the victims, families and communities across the greater Baton Rouge area that were affected by the historic rainfall and flooding over the weekend.   

PetSmart is looking to get a bigger share of the more than $60 billion Americans spent on their pets last year.      The retailer has opened its first-ever PetSmart Pet Spa, in Oceanside, New York. The new store is aimed at offering an enhanced experience and is intended to test out various ideas for consideration within PetSmart’s network of 1,460 plus stores.  

Mooresville, North Carolina-based Lowe’s reported modest second-quarter growth. It also had a message for RONA employees in Canada: welcome to the team.

American Eagle Outfitters’ profit, revenue and same-store sales increased in the second quarter, with its results topping expectations.   The chain posted a profit of $41.6 million for the quarter, up 25% from $33.3 million in the year-ago quarter.   Total net revenue increased 3% to $823 million, from $797 million in the year-ago period.   Consolidated same-store sales increased 3%.   

Customer experience remains at the hub of all retail strategies, including technical strategy. Whether it’s global inventory availability, mobile payment or loyalty apps, e-commerce and call center integration, or ubiquitous points-of-sale, infrastructure that uses all assets while integrating suppliers and consumers continues to define a retailer’s network design. Further, in highly competitive retail segments, managing the costs of digital fluidity is not only vital to capturing profitable share; it can also distinguish competitive advantage. 

Boosted by store growth and crisp sales of outdoor living, paint and lawn and garden, Ace Hardware Corporation Tuesday reported second quarter 2016 revenues of $1.4 billion, an i

J.C. Penney keeps getting more bullish.   The retailer on Thursday outlined an array of new initiatives as part of a three-plan to drive profit and accelerate growth. The company also detailed financial goals, and said it expects to reach nearly half a billion dollars in profit by 2019.