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Burlington Coat Factory stays cool during Q1
Burlington, N.J. -- Burlington Coat Factory credited the unusually cold winter experienced by many parts of the country, which dampened the first quarter results of many retailers, for helping to drive its strong financial performance during the first quarter.
The retailer reported net income of $11.1 million, a substantial improvement from $842,000 in the first quarter of the prior year, primarily driven by sales growth and improved gross margin rate which was in turn partially offset by increased selling and administrative expenses.
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Regency Centers breaks ground at Juanita Tate Marketplace
Los Angeles -- Regency Centers Corp. has broken ground on Juanita Tate Marketplace, a $21 million grocery-anchored shopping center in underserved South Central Los Angeles.
Anchors include a 42,500-sq.-ft. Northgate Gonzalez Market and a 14,576-sq.-ft. CVS/pharmacy. The remaining space will include small shops, quick-service restaurants and a 1050-sq.-ft. educational community center operated by Concerned Citizens of South Central Los Angeles, a community revitalization group once led by Juanita Tate, who died in 2004.
