News

I’ve read a few thought-provoking articles recently about the state of the retail real estate marketplace that make the observation that A malls are generally doing better while B malls are continuing to tread water—or even beginning to fade away. Once again, I have to disagree on the B malls.

Memphis, Tenn. -- Fred's Inc. reported Thursday that profit for the quarter ended April 28 rose 9.9% to $10.5 million, compared with $9.5 million in the year-ago period.

Revenue increased 3.3% to $500.5 million, edging Wall Street’s expected $500.3 million, but same-store sales dipped 0.4%.

The company opened three new regular stores and four express pharmacy stores during the quarter, as part of its plan to open 22 to 28 stores this year.
 

PHOENIX — Earnings shot up 39% to 85 cents per share to 61 cents per share at PetSmart during the first quarter as the company continues to dominate the pet retail space. Net income totaled $95 million in the first quarter of 2012, compared with $71 million in the first quarter of 2011.

MAVENEL, N.J.  — MIZCO International has introduced an entire line of universal tablet accessories under the company’s DIGIPOWER, iEssentials, and Travelocity brands. All of the new accessories, according to MIZCO president and CEO Albert Mizrahi, are designed to work with both the Apple iPad as well as Android based tablets.
 

Minneapolis -- Best Buy said its profit for the first quarter fell 26% amid higher restructuring charges and lower comparable store sales. However, adjusted earnings topped analysts' expectations and the company maintained its earnings outlook for fiscal 2013.

Best Buy said its profit fell to $158 million in the quarter ended May 5, from $212 million in the year-ago period.

Revenue rose 2% to $11.61 billion, helped by an extra week, and sales of tablets and mobile phones. International sales fell on weakness in China and Europe.

First it was the California State Teachers' Retirement System (CalSTRS) , now another California pension group (CalPERS) is looking to influence the Wal-Mart Stores board by withholding votes for nine members, according to Reuters. Read more.

Hingham, Mass. -- Talbots Inc. said is extending its talks with Sycamore Partners about an acquisition offer. It is the second time the chain has extended the talks.

Talbots has extended the period of time during which it will talk solely with the private equity firm about its $211 million takeover offer until Thursday.

The first time Talbots extended the exclusivity period was a week ago, when it announced that the talks would continue until Wednesday.

The University of Arkansas RFID Research Center will finally receive a home of its own. The center, which was founded in 2005 as part of the Information Technology Research Institute in The Sam M. Walton College of Business at the University of Arkansas will be housed at 1637 Fred Hanna Drive in Fayetteville. This will be the third location for the research center since it was founded.