REAL ESTATE

Four retailers ink leases for Virginia locations

BY Michael Fickes

Virginia Beach, Va. — Dollar General, Lily’s As Seen on TV, Sunrise Pizzeria and General Nutrition Corporation have all signed leases for retail space in Virginia, according to Divaris Real Estate, which represented the shopping centers in the transactions.

Dollar General renewed its lease for 6,720 sq. ft. in the Divaris-leased and –managed Glenwood Shoppes in Norfolk.

Lily’s As Seen on TV inked a lease for 2,144 sq. ft. in the Divaris-leased Valley View Station shopping center in Roanoke. The variety store sells home decor, kitchen and bath products, toys and gadgets.

Sunrise Pizzeria has taken 2,100 sq. ft. in Newport Marketplace in Newport News. Divaris Real Estate leases the center and Divaris Property Management Corp. manages the property.

General Nutrition Corporation has renewed a lease for 1,600 sq. ft. in Parkway Marketplace in Virginia Beach. Divaris Real Estate leases the center and Divaris Property Management Corp. manages the property.

Divaris Real Estate is a member of Realty Resources, a national group of independent retail property brokers and managers, covering 91 major markets throughout the U.S.

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Happy Thanksgiving!

BY CSA STAFF

The offices of Retailing Today are closed today, Thursday, Nov. 28, in observance of Thanksgiving Day. Distribution of the Retailing Today Daily Edition newsletter will resume Friday, Nov. 29. We wish you a happy and safe holiday weekend.

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Brown shoe won big during BTS

BY CSA STAFF

Famous footwear may have generated record third quarter sales, but parent company Brown Shoe was unwilling to get too ambitious with holiday expectations given uncertainty it sees around promotional activity and consumer sentiment.

Retailers were saying the same thing heading into the 2013 back to school season, but Famous Footwear, Brown Shoe’s largest division, said same store sales increased 4.9% for the third quarter and 5.6% during the back to school selling season. Total Famous Footwear sales increased only 0.6% however as the company closed 22 stores and opened 11 others.

“Famous Footwear reported record sales in the third quarter, with strength across all geographies, climate zones and genders,” said Brown Shoe president and CEO Diane Sullivan.

Total company sales increased a scant 1% to $702.8 million, but third quarter profits of $27.3 million, or 63 cents a share, were up 12.4% from profits of $24.3 million, or 56 cents a share the prior year.

“To account for our strong performance year-to-date, we are raising our adjusted diluted EPS guidance to a range of $1.36 to $1.40,” said Russ Hammer, Brown Shoe’s CFO. “For the fourth quarter, we expect to operate under the same level of caution as many of our peers, as uncertainty around traffic, promotional activity and consumer sentiment appears to be permeating the overall industry this holiday season.”

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