Albertsons to close four stores
Boise, Idaho — Albertsons LLC plans to close four underperforming stores: one in Arizona, one in Louisiana and two in Texas.
The closings will leave Albertsons with 205 stores in the Southwest and the South.
Target to test Apple mini-stores in select locations
Minneapolis — Target Corp. confirmed Thursday that it plans to install Apple mini-boutiques in some of its stores this year. The concept will be tested in 25 locations, and feature a wider assortment of Apple products than is currently available at Target, according to Bloomberg.
In addition, the discounter is teaming up with owners of specialty shops to create limited edition merchandise that will be sold online and at its stores. Target will start featuring products from five shops starting May 6. The in-store shops will be open for six weeks and then be replaced with a group of different shops in the fall.
The initial group includes The Candy Store in San Francisco, The Privet House home accessories shop in Connecticut; The Webster House, a clothing store in Miami; Polka Dog Bakery in Boston; and The Cos Bar, a cosmetic shop in Aspen.
Target said it will continue to scout for unique shops that will co-create merchandise to be sold exclusively through Target.
The move “puts Target at the frontier of what’s next in retail," said Brian Robinson, director of fashion and design partnership at Target in a presentation in New York.
CBL and Horizon Group to develop Outlet Shoppes at Atlanta
Woodstock, Ga. — Chattanooga, Tenn.-based CBL & Associates Properties and Norton Shores, Mich.-based Horizon Group Properties announced a 75/25 joint venture to develop The Outlet Shoppes at Atlanta in Atlanta (Woodstock), Ga.
Once complete, the 370,000-sq.-ft. project will be the premier outlet destination for tourists and residents of Atlanta and the surrounding area. Construction is expected to begin in spring 2012, with the grand opening scheduled for late summer 2013. CBL and Horizon are co-developing the project with Horizon responsible for leasing and management.
“Retail interest is very strong and leases have already been executed with some of the best names in the outlet business today,” said Stephen Lebovitz, president and CEO for CBL. “We are confident that The Outlet Shoppes at Atlanta will be a terrific investment for CBL.”
The Outlet Shoppes at Atlanta is currently more than 70% leased or committed with outlet retailers such as Saks Fifth Avenue Off 5th, Nike, J. Crew, Nine West, Brooks Brothers, Johnston and Murphy, Levis, Skechers, Chico’s, Guess, Michael Kors, Puma, Under Armour and more. It will be located in Woodstock, Ga., a northern suburb of Atlanta in Cherokee County.