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DLC, Hutensky acquire Walmart Plaza

BY Katherine Boccaccio

Derby, Conn. — DLC Management Corp. and Hutensky Capital Partners have announced a joint-venture acquisition of Walmart Plaza, a 199,393-sq.-ft. shopping center in Derby, Conn.

Anchored by Walmart, Adams Hometown Market and CVS, the center adds to DLC’s Connecticut holdings of nine shopping centers and 1.4 million sq. ft.

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Dick’s sees 53% profit surge in Q1, raises outlook; to open 40 stores in 2012

BY Katherine Boccaccio

Pittsburgh — Dick’s Sporting Goods Inc. reported Tuesday that profit for the quarter ended April 28 surged 53% to $57.2 million, compared with $37.5 million for the year-ago period. The sporting goods retailer raised its earnings outlook for the year.

“For 2012, we are raising our full year guidance as we continue to invest in new stores and our e-commerce business, as well as our margin accelerators including inventory management, private brands, and product mix shift,” said Edward W. Stack, CEO.

Revenue for the quarter rose 15% to $1.28 billion from $1.11 billion last year, surpassing Wall Street expectations of $1.23 billion. Same-store sales increased 8.4% — up 7.3% at namesake stores and up 12.6% at Golf Galaxy.

Dick’s said it is on track to open four Dick’s Sporting Goods stores in the current quarter, and 40 namesake stores in 2012. Five Dick’s stores will be relocated and two Golf Galaxy stores will be repositioned in 2012, said the company.

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Report: April retail sales rise at slowest pace of 2012

BY Katherine Boccaccio

Washington, D.C. — A Tuesday report by the Commerce Department showed that U.S. retail sales during the month of April edged up 0.1%, following a 0.7% gain in March and marking the smallest rise of the year so far. The gain was in line with projections.

Excluding auto sales, retail sales climbed 0.1% in April.

An early Easter and unusually mild temperatures may have impacted the results by pulling consumers into the stores in March, industry experts said. The average temperature in March was the warmest ever recorded in the United States, and Easter fell on April 8, compared with April 24 the year before.

Sales at specialty apparel and department stores sagged in April – down 0.7% and 0.1% respectively. Still, nine of 13 major categories showed gains last month, led by auto dealers, furniture stores and non-store retailers that included online merchants.

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