REAL ESTATE

Best Buy readies U.K. launch

BY CSA STAFF

London Best Buy Co. will open its first British store in May, the retailer said on Monday, as partner Carphone Warehouse completed its demerger from telecoms arm TalkTalk.

According to a report by Reuters, Best Buy said it would open a 50,000-sq.-ft. megastore in Thurrock, east of London, in May, slightly later than the April date it had previously flagged. That debut will be followed by stores in Southampton, southern England and Merry Hill, central England in June, and then Liverpool in the weeks after that and Croydon, south London, in the autumn.

Best Buy acquired 50% of Carphone Warehouse’s retail business in 2008 and originally planned a debut in Britain in the summer of 2009. That was delayed because of the global downturn.

Shares in Carphone Warehouse, Europe’s biggest mobile phone retailer, rose on Monday following their demerger from telecoms business TalkTalk.

One analyst said the move was helped by stronger-than-expected results from Best Buy last week, at a time when Carphone’s shares were suspended ahead of the demerger.

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REAL ESTATE

Ulta, Wendy’s to open at newly renovated La Palmera

BY CSA STAFF

Corpus Christi, Texas Trademark Property announced that both Ulta and Wendy’s have inked leases to open at La Palmera mall in Corpus Christi, Texas. Trademark is nearing completion of its $50 million renovation of the 40-year-old property.

The developer just completed the new main entrance and opened the Outdoor Lifestyle Court, where Ulta will be located when it opens its 9,800-sq.-ft. store in the fall.

Grimaldi’s Pizzeria is set to open in April in the new Lifestyle Court as well, with P.F. Chang’s following in June.

Wendy’s will open a 700-sq.-ft. restaurant in the La Palmera Cafes food court in July.

La Palmera is anchored by Macy’s, Dillard’s and J.C. Penney.

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Citi Trends opens 11 stores in March

BY CSA STAFF

Savannah, Ga. Discount apparel retailer Citi Trends Inc. will open a total of 11 stores in the South and Midwest in March, the company said Friday.

The stores will be in Montgomery, Ala.; Cocoa, Fla.; Cordele, Ga.; Lawrenceville, Ga.; Fairview Heights, Ill.; Joliet, Ill.; Flint, Mich.; Mansfield, Ohio; Springfield, Ohio; Houston and Milwaukee.

Citi Trends more than 400 stores in 24 states.

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