India will announce new rules for foreign investment in retail by April 2012, which would pave the way for such retailers as Wal-Mart Stores, Carrefour SA and other large chains to open stores in the country, Bloomberg reported.
Backed by an improving economy, a recent surge in jobs and ten consecutive months of rising retail sales, a broad range of retailers are poised to fill up empty retail spaces over the next 12 to 18 months, according to Colliers International, the third-largest commercial real estate services company in the world.
The Great Atlantic & Pacific Tea Company (A&P), which is working its way through Chapter 11, will close 13 Suprefresh stores in the Baltimore area in July because it can't find anyone to buy the properties, The Baltimore Sun reported.
Nordstrom announced plans to close its Circle Centre store in downtown Indianapolis, Ind. Opened September 8, 1995, the 216,000-sq.-ft. location will close to the public at the end of business on July 31, 2011.
Big Lots on Thursday trimmed its expectations for the year amid a fall in first-quarter earnings. In a separate statement, Big Lots said it signed an agreement to buy the Canadian closeout retail chain Liquidation World.