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Retail

  • PetSmart to open 70 stores

    New York -- PetSmart plans to open some 70 net new stores, including approximately 50 of its standard prototypes, 20 micro stores and three PetsHotels, this year.  

    News of the expansion comes in conjunction with the retailer’s fourth quarter results. Net income increased 14% to $132 million in the quarter, compared to $115 million in the year-ago period,

    Net sales increased 2.9% to $1.8 billion. Same-store sales, including Internet sales, grew 1.2%.  

  • Huntington Plaza in Monrovia, Calif., sells to private buyer

    Los Angeles — A private buyer has acquired Huntington Plaza, a 57,148-sq.-ft. shopping center in Monrovia, Calif., in the San Gabriel Valley. Anchored by Sprouts Farmers Market and Walgreens, the center was 96% leased at the time of the sale. The tenant roster includes McDonald’s, Jersey Mikes, Flame Broiler, Great Clips and Pacific Dental.

    The owner engaged Studley and Colliers International to offer the property for sale. The two companies have jointly handled the leasing of Huntington Plaza for more than six years.

  • PetSmart expands store growth plans

    PetSmart plans to open 70 net new stores this year, including approximately 50 of its standard prototypes, 20 micro stores and three PetsHotels. That’s 10 more than last year, during which the largest specialty pet retailer of services and supplies also closed five stores and opened three new PetsHotels.

    The company will spend remaining capital expenditures on store remodel-type projects, supply chain, technology, maintenance and other infrastructure improvements.

  • Kroger Q4 profit beats Street; lifts outlook

    Cincinnati – The Kroger Co. earned a better-than-expected $422 million in its fourth quarter, down from $462 million in the year-ago period, which included an additional week of sales. The nation’s largest supermarket operator issued a better-than-expected profit for the year ahead.

  • Staples to close 225 stores by end of 2015

    Framingham, Mass. -- Staples on Thursday said it will close 225 stores by the end of 2015 amid falling fourth-quarter revenue, increased competition, and a shift to online sales. The big-box office-supply category, which was battered by the recession, has come under increased competition from Walmart and other discounters and online retailers such as Amazon. Most recently, Staples’ rivals Office Depot and OfficeMax completed a $1.2 billion merger.

  • NRF urges ‘holistic’ approach to data security

    Washington, D.C. - The National Retail Federation has submitted an official statement for a hearing on data security being held by the House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit, reiterating the retail industry’s commitment to protecting Americans’ financial information.

  • Walgreens to present net zero-energy store at SPECS

    New York -- Walgreens will share learnings, insights and real-time performance data gained from building and operating the retail industry’s first net zero-energy store at Chain Store Age’s 50th annual SPECS Conference, March 9 -12, Gaylord Texan Hotel,  Grapevine, Texas.  
     

  • Walgreens, Roush Fenway Racing launch interactive promotion

    Deerfield Park, Ill. - Walgreens and Roush Fenway Racing have launched a partnership to stage "The Race Around America" interactive promotion, presented by Balance Financial Prepaid MasterCard from Walgreens. By registering their cards for the promotion, Balance financial card cardholders will be entered in the sweepstakes portion of the omni-channel promotion.  

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