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Five new retailers to open at Westchester’s Ridge Hill
Yonkers, N.Y. -- Forest City Ratner Cos., the developer of Westchester’s Ridge Hill, in Yonkers, N.Y., announced that four new retailers have completed leases and will be opening their stores during the spring/summer 2012. They are LA Fitness; T.J. Maxx; Pandora and Francesca’s Collection.
Additionally, Guitar Center, which had previously executed a lease, will be opening its new store at Ridge Hill during the December holiday season. These new stores will occupy 108,939 sq. ft. at Westchester’s Ridge Hill.
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Stein Mart revises 3Q loss after inventory error
Jacksonville, Fla. -- Stein Mart Inc. on Thursday said it has had to revise its Q3 financial results, because it mishandled records related to a pending changeover in its electronic inventory system. The computer error led the retailer to miss recording permanent markdowns for the quarter ended Oct. 29.
The adjustment, which will reduce gross margin and inventory, will widen Stein Mart’s third-quarter loss by $1.3-$1.6 million. The retailer had reported a loss of $1.8 million for the period.