News

Smyrna, Ga. -- Westchester, Ill.-based Tri-Land Properties announced that it has received zoning and financing approval for The Crossings at Four Corners in Smyrna, Ga. Tri-Land has sold eight acres of the project to Cincinnati, Ohio-based Kroger Co.

Cole Taylor, a Chicago based lender, is providing the construction financing for the project.

Nashville, Tenn. -- Genesco reported on Friday a criminal intrusion into the portion of its computer network that processes payment card transactions for its U.S. Journeys stores, Journeys Kidz, Shi by Journeys and Johnston & Murphy stores, and for some of its Underground Station stores.

The retailer announced that it took immediate steps to secure the affected part of its network and said it believes the intrusion has been contained.

Framingham, Mass. -- TJX Cos. said Friday it will close its A.J. Wright discount stores by mid-February, cutting 4,400 jobs. The move comes as the company’s T.J. Maxx and Marshalls chains have become better at attracting the lower-income customers that A.J. Wright targeted.

Ninety-one A.J. Wright stores will be converted into T.J. Maxx, Marshalls or HomeGoods stores, and 71 stores and two DC’s will close entirely. About 3,400 employees will keep their jobs and another 4,400 – half part-time and half full-time – will be cut.

By Jay Leyden, [email protected]

Today, retail companies have realized that projecting a consistent and positive brand image to their customers is a major factor in achieving customer satisfaction. That means everything from lighting standards and cleanliness to HVAC and exterior landscaping are potentially as important to their brand as, say, their advertising campaign or the quality of their products. 

Ann Arbor, Mich. -- Borders Group posted sales of  $470.9 million for its third quarter ended Oct. 30, a decrease of 17.6% from the same period a year ago. Same-store sales declined by 12.6%.

The company posted a loss from continuing operations in the third quarter of $74.4 million, versus a loss $37.7 million a year ago.

New York City -- Neiman Marcus plans to increase spending on technology to align its in-store and e-commerce businesses, the Financial Times reported.

Sales at Neiman’s e-commerce businesses increased 16.9% during the quarter ending Oct. 31, compared with a year ago.

Karen Katz, who took over the reins as chief executive from Burt Tansky in October, said Neiman planned to “ramp up how we connect” with customers who are increasingly equipped with smartphones and tablets, the report said.
 

New York City -- Supervalu has reached an agreement to sell its Total Logistic Control subsidiary to Ryder System for an undisclosed amount.

The subsidiary provides logistics and supply chain management solutions to manage distribution, warehouse and transportation operations for food, drink and packaged-goods companies.