News

Mixed-use project breaks ground at Pittsburgh historic site
Arsenal Park, an often overlooked historical site in Pittsburgh, is now destined to re-emerge as Arsenal 201, a residential and retail project. Milhous Development broke ground last week on the $100 million first phase of the project, which encompasses and entire block between 39th and 49th Streets in the city’s Lawrenceville section. That was the site of the Allegheny Arsenal, a key manufacturing and supply facility for the Union Army where an 1862 explosion took the lives of 78 workers -- the largest civilian disaster of the war.
Walgreens to ship online orders to stores
Walgreens has joined the ranks of retailers working to get merchandise ordered online into customers’ hands faster. The drugstore chain has launched a ship-to-store program that offers free shipping to a Walgreens or Duane Reade store for orders made on the chain’s website and mobile app. No minimum purchase is required.

Michigan center sold for $11.5 million

Southfield, Michigan-based Versa Development has purchased Cascade Crossing in Sault Ste. Marie for $11.5 million. Mid-America Real Estate Corp. handled the sale on behalf of the seller, DDR Corp. Situated at the junction of Interstate 75 and 3 Mile Road in the Canadian border town, the 276,361-sq.-ft. center is anchored by Kohl’s, J.C. Penney, TJ Maxx, and Jo-Ann Fabrics.
Supervalu in $1.36 billion cash deal to sell Save-A-Lot

Supervalu has found a buyer for its discount grocery business, Save-A-Lot. Supervalu agreed to sell Save-A-Lot to Onex Corporation, a Toronto-based private equity firm, for $1.365 billion in cash. As part of the agreement, Supervalu will provide professional services to Save-A-Lot for five years. The sale is expected to be completed by January 31, 2017, subject to regulatory approvals and other customary closing conditions.
Sears names new finance head; consolidates some finance functions

Sears Holdings announced that Jason Hollar has been promoted to CFO, effective immediately. Hollar succeeds Robert A. Schriesheim, who the chain previously announced would be departing to focus on his other business interests and pursue other career opportunities. Hollar, 43, joined Sears Holdings in October 2014 as senior VP, finance, overseeing the financial planning & analysis function, the business finance relationship with centralized finance, and procurement.
Retail sales mixed for September

First the good news: Retail sales rose 0.6% in September, after falling a revised 0.2% in August, according to figures by the Commerce Department. The increase, the most in three months, was helped by a rebound of automobile and restaurant sales. On the less positive front, excluding autos and gasoline, sales were up only 0.1%, less than economics predicted.
Macy’s and Apple make history

Macy’s on Friday became the first department store retailer to open an in-store Apple shop. The shop is located on the main floor of Macy’s New York City flagship in Herald Square. Similar to in-store Apple shops at Best Buy, it features light wood tables. The product line-up includes iPhones, iPads, MacBooks, and Apple watches.
Former Sports Authority exec joins Shoe Carnival

Clint Pierce is joining Shoe Carnival as its VP, divisional merchandise manager for athletic footwear. Pierce, who will oversee the athletic footwear category for the entire enterprise, will report to Carl Scibetta, executive VP, chief merchandising officer. Most recently, Pierce served as senior VP, general merchandise manager for footwear and apparel at Sports Authority.
Warby Parker, University Village, Seattle

Warby Parker goes back to the future — design-wise at its new store in Seattle. The design recalls the classic library-inspired aesthetic of the brand’s first-ever store in downtown Manhattan, and is outfitted with light oak shelving, spacious marble tabletops and brass detailing. It also features exposed metal ceiling beams, concrete flooring and skylights.
Commentary on September Sales

Neil Saunders, CEO of Conlumino, a New York-based retail research agency and consulting firm, offers the following insights on September sales results.