REAL ESTATE

DDR and Walmart team to open, expand four stores

BY Katherine Boccaccio

Beachwood, Ohio — DDR Corp. announced Friday plans to redevelop four shopping centers by adding two new Walmart stores in Florida and expanding two existing stores in Ohio and Puerto Rico.

"These projects will deliver desired growth opportunities to the world’s most successful retailer and further strengthen DDR’s relationship with its largest tenant," said Paul Freddo, senior executive VP leasing & development for DDR.

At DDR’s The Shops at Midtown Miami, a 645,000-sq.-ft. mixed-use center in Miami, Walmart plans to build a 160,000-sq.-ft. store on a currently undeveloped five-acre parcel adjacent to the existing center which currently features Target, Marshalls, HomeGoods, PetSmart, Ross Dress For Less and The Sports Authority.

At Tarpon Square in Tarpon Springs, Fla., Walmart has purchased a former Kmart location and will open an 85,000-sq.-ft. store with a full line of grocery offerings.

Walmart also plans to expand its existing stores at Southland Crossings in Boardman, Ohio, and Plaza Palma Real in Humacao, Puerto Rico, to include a full line of grocery products.

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News

Gander Mountain adopts Revionics price optimization solution

BY Staff Writer

Roseville, Calif. — Retail life cycle price optimization solution-provider Revionics said Wednesday that Gander Mountain Co. has selected the Revionics Price Optimization solution, which provides both base price management and price optimization.

The companies have entered into a two-year agreement. Revionics will help deploy these solutions throughout Gander Mountain’s retail stores ensuring optimal monitoring, management and results.

Gander Mountain said its goal was to move toward a more scientific and strategic approach in its merchandising and pricing strategies. According to Revionics, the retailer will be able to achieve optimal competitive advantage for each retail location by ensuring its merchandise is priced and targeted correctly, predicting and driving consumer demand and behavior, and providing its merchants the ability to become more profitable with their pricing promotion and markdown strategies without taking away time from their core areas of focus or responsibilities.

"What stood out to us the most about Revionics’ Price Optimization solution … was the ease of usability, good customer interface and the strong track record this solution has gained," said Kerry Graskewicz, executive VP merchandise planning and inventory operations, Gander Mountain.

The Revionics Life Cycle Price Optimization Suite leverages usable science that integrates and balances retailers’ pricing rules, strategies and operational policies with consumer demand to deliver more effective pricing recommendations that align with category plans and corporate financial objectives.

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OPERATIONS

Best Buy looks to regain tech leadership with hiring boost

BY Gail Hoffer

Minneapolis — Following a disappointing second quarter, Best Buy is looking to reposition itself as a tech leader with plans to hire more than 200 information technology professionals, with more than 100 new positions to be posted in the next several weeks.

Best Buy said Thursday it is looking to recruit skilled professionals from across the IT landscape, including e-commerce, business analytics, application development, engineering and project management.

"As a technology company that operates across a variety of channels, we’re always looking for ways to better serve our customers and employees,” said Jody Davids, CIO and senior VP global business services at Best Buy. "Bringing in the best and the brightest IT talent will help us to achieve our ongoing goals of providing a unique and engaging customer experience– whether in-store, online or across our mobile platforms – and creating a work environment for employees that encourages collaboration and sparks innovation."

For its second quarter, Best Buy reported a same-store sales decline of 2.8% that was mostly impacted by poor sales performance in television, gaming, digital imaging and physical media. The company reported net earnings of $177 million for its fiscal second quarter ended Aug. 27, compared with $254 million for the prior-year period.

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