Retail

Miami Gardens, Fla. — The owners of Palmetto Gardens Plaza, a 7.1-acre center in Miami Gardens, have reached a settlement with PNC Bank, secured a new loan with Hudson Financial Services and signed a lease with Wal-Mart for a Neighborhood Market Store as its anchor tenant.

In January of 2010, PNC Bank filed a foreclosure action against Palmetto Design Center, the property owner. That action has been settled.

New York -- Family Dollar saw strong growth in refrigerated and frozen food, health aids and tobacco, which buoyed sales in consumables to 8.3% for the fourth quarter ended Aug. 31. Despite the increase, comparable store sales for the quarter were flat. 

The company’s total net sales for the quarter increased 5.8% to $2.5 billion compared with total net sales of $2.4 billion in the fourth quarter of fiscal 2012. However, customer traffic and the average customer transaction value were flat during the quarter. 

Dallas – Increased one-to-one personalization and a growing global economy are two key “megatrends” that will help steer the future direction of retail, according to Dr. Chakib Bhoudry, executive VP of retail industry solutions for SAP. Bhoudry discussed these and other trends in his Oct. 8 keynote address, “Megatrends and the Future of Retailing,” at the SAP Retail Forum 2013 in Dallas.

New York -- Online mobile sales were strong in the third quarter as mobile percentage of online sales increased more than 60% year-over-year. Led by strong gains in home goods and department store, mobile traffic for U. S. retail overall reached almost 32% in the quarter, up more than 50% while online retail sales overall grew close to 10%.

Winnipeg, Manitoba -- Canadian denim company Silver Jeans Co. said it will open its "loft" concept store at Glendale Galleria on Nov. 2 in Glendale, Calif.

"We put a lot of work into making sure the store environment represents our brand," says Michael Silver, CEO, Silver Jeans Co. “We've created an environment that has a comfortable modern feeling but also lets our guests know that we're a historic brand with a rich 92-year history."

Revlon’s wholly owned operating subsidiary, Revlon Consumer Products, completed its previously disclosed acquisition of the Colomer Group, including the Revlon Professional business, for a cash purchase price of $665 million.

Jacksonville, Fla. -- Bi-Lo and Winn-Dixie parent Bi-Lo Holdings said it would begin in 2014 the process of converting all Sweetbay stores to the Winn-Dixie name and Reid's stores to Bi-Lo, but that the Harveys banner would remain intact.

The grocery retailer acquired all three banners from Brussels, Belgium-based Delhaize Group last May.

Bi-Lo and Winn-Dixie parent Bi-Lo Holdings plans to retire the Sweetbay and Reid’s banners. The company will begin converting all Sweetbay stores to the Winn-Dixie name and Reid's stores to Bi-Lo in 2014, and confirmed the Harveys banner would remain intact.

The grocery retailer acquired all three banners from Brussels, Belgium-based Delhaize Group last May.