REAL ESTATE

Divaris to lease, manage Marquis in Williamsburg, Va.

BY Staff Writer

Williamsburg, Va. — Divaris Real Estate announced it has been appointed the exclusive leasing and management firm for The Marquis, located in Williamsburg, Va.

The Marquis is a 750,000-sq.-ft., regional power center. At its completion, The Marquis will be the largest retail development in Williamsburg, featuring specialty retailers and restaurants and several big-box retailers including Target, Kohl’s, Dick’s Sporting Goods, Best Buy and J.C. Penney.

All five major anchor tenants are committed to staying in Williamsburg, having signed on with The Marquis during its pre-development stage. “The tenants are pleased with the performance of their stores and happy with the co-tenants that exist in The Marquis,” said Shawn Todd, CEO of Todd Interests, the development company that recently purchased the property. To that extent Dick’s and Best Buy have extended their leases since ownership changed in late 2011.

Phase I of The Marquis is now open and Phase II is expected to be delivered by the fall of 2013. In addition to the major big-box anchor tenants, negotiations are underway with several restaurants, soft goods, apparel and a theater tenant.

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News

Hawaiin boutique owner wins top prize in NRF’s ‘This is Retail’ contest

BY CSA STAFF

WASHINGTON — Tanna Dang, a boutique owner in Honolulu, Hawaii was awarded the top $25,000 prize in the National Retail Federation’s inaugural “This is Retail” video contest. Florida’s Kim Williams of The Polka Dot press came in second place and will take home $15,000 and Illinois’ Susan Kaufman will take home $10,000 for third place. Nearly 1 million votes were cast by the public through NRF’s Retail Means Jobs website to choose the contest winners.

“These entrepreneurs have an incredible passion for retail and their communities, which came through in their videos and was evident during the voting process,” said NRF president and CEO Matthew Shay. “We all love the stories the winners have shared with us, and it’s incredible to think there are millions of other retail employees just like Tanna, Kim, Susan and Jim across America, working hard to provide for their families, give back to their communities, and serve their customers every day.”

The award winners were in attendance at NRF’s Washington Leadership Conference at the Gaylord National Harbor this morning when Terry Lundgren, Macy’s chairman, CEO and president, and chairman of the NRF board of directors, and NRF president and CEO Matthew Shay presented each with their checks. Bill Brand, EV{ programming, marketing and business development at HSN and also one of the judges that selected the initial top 20 finalists, announced the winners.

Lundgren and Shay also presented Jim Adams of Falls Road Running Store in Baltimore with the Judge’s Choice Award. Jim’s video on how retail powers the economy received the highest score from the original panel of judges who selected the top 20 finalists in March.

To learn more about all of the video finalists, visit retailmeansjobs.com/thisisretail/library.

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FINANCE

Chico’s Q1 beats expectations, ups outlook

BY Marianne Wilson

Fort Meyers, Fla. — Chico’s FAS Inc. said Wednesday that its fiscal first-quarter net income rose a better-than-expected 17% to 53.6 million in the three months through April 28, compared with $45.9 million a year ago. The chain also bumped up its revenue outlook for the year.

Revenue rose 21% to $650.8 million, beating expectations, from $537.2 million a year ago. The company September acquisition of women’s clothing chain Boston Proper added $33.7 million in sales during the quarter.

Same-store sales were up 9.6%, with Chico’s/Soma Intimates brands up 8.8% and White House | Black Market up 11.3%.

Chico’s projects capital expenditures for fiscal 2012 of approximately $150 million, which include 120 to 130 gross new stores.

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