REAL ESTATE

Blakeney and Blakeney Crossing to welcome new tenants

BY CSA STAFF

Charlotte, N.C. Crosland LLC said Thursday that six new retailers are set to open at the upscale shopping center plazas Blakeney and Blakeney Crossing.

Jos. A. Bank, TCBY, Le Cookery and PJ’s Designs will join the mix of Blakeney restaurants and retailers later this year. Celebrating its grand opening, bevello, a woman’s clothing boutique, opened its doors at Blakeney in early July.

Also joining Blakeney Crossing will be City Cigar Co. and Papa Murphy’s Take ‘N’ Bake Pizza this fall.

Blakeney is a 270-acre multi-use development zoned for 495,000 sq. ft. of retail to include a mix of local and national retailers with a signature retail component of specialty shops, as well as casual and upscale dining.

Blakeney Crossing features 87,000 sq. ft. of retail space for shops, restaurants and services. Anchoring the center are national retailers Best Buy and PetSmart. Previously announced shops include Winestore, Asian Fusion, Salsarita’s Fresh Cantina and Omaha Steaks.

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Staples names head of foundation division

BY CSA STAFF

FRAMINGHAM, Mass. Staples has announced the appointment of Mike Miles as president of Staples Foundation for Learning, the charitable arm of Staples Inc.

Miles, Staples’ president and COO, succeeds Ron Sargent, Staples’ chairman and CEO, as head of the foundation.

 

“As we continue to build SFFL, we look forward to further engaging our senior executives in contributing to the growth and development of the organization,” said Sargent. “The foundation is in good hands under Mike’s leadership and I look forward to providing my continued support toward the great work the team is doing.”

Since its launch in 2002, Staples Foundation for Learning has contributed to nearly 1,000 non-profit organizations, Staples reported.

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Macy’s quarterly earnings see significant growth

BY CSA STAFF

CINCINNATI Macy’s reported earnings of 35 cents per diluted share for the second quarter of 2010, ended July 31. According to the company, this significant earnings increase over the second quarter of last year was driven by higher-than-expected sales, improved margins, a reduced expense rate and disciplined inventory management.

“We believe our business is beginning to hit its stride after implementing significant structural and organizational changes over thepast two years. While the economic environment remains uncertain, Macy’s and Bloomingdale’s have a terrific opportunity to continue to take market share and grow our business profitably,” said Terry Lundgren, Macy’s Inc. chairman, president and CEO.

In the second quarter of 2009, Macy’s earned 2 cents per diluted share.

 

Sales in the second quarter totaled $5.537 billion, up 7.2% from total sales of $5.164 billion in the second quarter of 2009. On asame-store basis, Macy’s Inc.’s second quarter sales were up 4.9%.

 

 

Macy’s Inc. currently expects same-store sales in the second half of fiscal 2010 to be up in the range of 3% to 3.5%, whichwould result in full-year 2010 same-store sales to be up between 4% and 4.2%. At the beginning of the year, the company’sinitial guidance was for a 2010 same-store sales increase of 1% to 2%. At the end of the first quarter, full-year same-storesales guidance was raised to up 3% to 3.5%, reflecting improvement in the business trend.

Based on stronger sales expectations, Macy’s Inc. is increasing its full-year 2010 earnings guidance to $1.85 to $1.90 per diluted share.This compares with previous guidance of $1.75 to $1.80 per diluted share, and initial earnings guidance of $1.55 to $1.60 per diluted share provided at the beginning of the year.

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