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Home   Join/Renew   Certification   PRSM Magazine   Careers   Resources   Mid-Year Conference Sept. 10, 2010

Dallas-based 7-Eleven bids $2 billion for convenience chain Casey's
The Dallas Morning News    Share   Share on FacebookTwitterShare on LinkedinE-mail article
7-Eleven Inc. is making its boldest move to date in convenience store consolidation by offering $2 billion for a smaller Midwestern rival. The Dallas-based retailer has offered $40 a share to acquire Iowa-based Casey's General Stores Inc., which would give it an immediate 1,531-store boost to its count of 6,500 U.S. locations. Casey's has been fighting off unsolicited offers since April from Canada-based Alimentation Couche-Tard Inc., whose most recent offer was $38.50 a share. More

A&P sells 7 Connecticut stores to Big Y Foods
The Associated Press via Bloomberg Businessweek    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The Great Atlantic & Pacific Tea Co. said it's selling seven stores in Connecticut to Big Y Foods Inc. for an undisclosed amount. The sale is part of the company's turnaround strategy announced in July. The deal is expected to close at the end of October. More

US Retail Space Availability to Drop in 2011, CB Richard Says
Bloomberg    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Space available for lease at U.S. local retail centers will decline next year for the first time since 2005 as consumer spending rises, according to commercial broker CB Richard Ellis Group Inc. The availability rate, which refers to space being actively marketed and ready for tenant construction in a year, will fall to 12.8 percent for neighborhood and community shopping centers at the end of 2011 from a peak of 13.2 percent in the second half of this year, according to a forecast from CBRE Econometric Advisors, a unit of Los Angeles-based CB Richard Ellis. More

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Toys R Us to operate more pop-up stores this Christmas season
Los Angeles Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Toys R Us Inc., which debuted a temporary holiday store concept last year, announced Thursday that it would operate 600 pop-up stores nationwide this Christmas season, more than six times as many as last year. The aggressive expansion of the Toys R Us Express stores will mean about 70 pop-up stores in California, of which more than 40 will be in the Los Angeles area, Chief Executive Jerry Storch said in an interview. More

August sales: How retailers fared
The Wall Street Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Many large retailers reported their August sales numbers this week, with most of them coming out the morning of Thursday, Sept. 2. Updates to come as more retailers report sales. More

Talbots reports improved earnings for Q2
Retailing Today    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Talbots reported second-quarter income from continuing operations was $0.5 million or 1 cent per share, compared with last year's loss from continuing operations of $20.5 million, or 38 cents per share. "Our second quarter and year-to-date results demonstrate the steady progress we are making as a result of our strategic initiatives," said Trudy Sullivan, Talbots president and CEO. "In the second quarter, we again generated significant gross margin expansion, successfully managed expenses and achieved better than expected improvement in adjusted earnings per share." More

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Rite-Aid, Sav-A-Lot test cobranded stores
International Council of Shopping Centers    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Rite-Aid and supermarket chain Sav-A-Lot are testing a co-branded concept at 10 South Carolina stores. The deal, structured as a licensing agreement, will see Rite-Aid's 10 stores in Greenville, S.C. renamed Save-A-Lot Food Stores/Rite-Aid Pharmacy. The stores will continue to be owned and operated by Rite Aid. "This new co-branded concept meets the needs of today's consumers, who continue to search for value, quality and convenience, and we're excited about the chance to offer our customers high quality grocery products including fresh meats and farm-fresh produce at great prices," said Ken Martindale, Rite Aid COO, in a press release. More
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