REAL ESTATE

Disney Store Expands to Outlet Arena

BY CSA STAFF

Glendale, Calif., Disney Store North America, a wholly owned subsidiary of The Children’s Place Retail Stores, will expand into the retail outlet arena. Its first outlet will measure more than 7,000 sq. ft. and will open in New York this weekend at the Woodbury Common Premium Outlets. Five additional outlets are planned to open this year in California, Arizona, Illinois, Tennessee and Ontario, Canada. The move marks the first adjustment to Disney Store’s real estate strategy since The Children’s Place acquired the chain in November.

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Australia’s Foodland Up For Sale

BY CSA STAFF

Melbourne, Australia, Australian grocer Foodland Associated Ltd. put itself up for sale after Metcash Trading Ltd. made a hostile bid for the company, according to a Wall Street Journal report. Foodland is in discussions with several other suitors.

Foodland may consider selling its New Zealand assets separately. The grocer previously had announced plans to spin off its plum New Zealand business by August. Australian retail bruisers Coles Myer Ltd. and Woolworths Ltd. are rumored to be interested in Foodland’s New Zealand business, but both have declined comment.

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Ultimate Electronics Plans Closings

BY CSA STAFF

Denver, Ultimate Electronics plans about 30 store closings, about half the number of its total store count of 62. The chain will leave markets in Iowa, South Dakota, Texas and Utah and Kansas City, Missouri, when the closings are completed by June 30. About 900 employees will lose their jobs through the closings, and another 65 employees of the central office will be terminated.

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