REAL ESTATE

Five Guys Burgers and Fries to open at Westwood Village

BY CSA STAFF

Magnolia, Texas — Jacksonville, Fla.- based Regency Centers said it has leased restaurant space in Magnolia, Texas, at Westwood Village to Five Guys Burgers and Fries.

Five Guys leased 3,127 sq. ft., bringing the center to 97% leased. The restaurant is now open for business.

Westwood Village is a 310,000-sq.-ft. community center anchored by Target, Ross Dress For Less, and T.J. Maxx.

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FINANCE

Pier 1 Imports profit nearly doubles in Q1

BY Katherine Boccaccio

Fort Worth, Texas — Pier 1 Imports reported Thursday that its fiscal first-quarter profit nearly doubled, rising to $14.1 million, compared with $7.7 million in the prior year period.

Revenue increased 9% to $334.6 million from $306.3 million. Same-store sales rose 10.2%.

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SUPPLY CHAIN

Report: Wal-Mart cutting costs through innovative supply chain

BY Staff Writer

Bentonville, Ark. — A report Thursday by Bloomberg said that Wal-Mart Stores is battling rising commodity prices by working with its suppliers to avoid price increases, among other strategies.

“We find creative ways to work around it,” Doug McMillon, president and CEO of Wal-Mart International, told Bloomberg. “First we try to keep our costs as low as we can, secondly work with our supply chain as best we can.”

Wal-Mart is “innovating” with transport and packaging to reduce costs, he said.

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