Fresh Market to open at Congressional Plaza
Rockville, Md. — Federal Realty Investment Trust said Monday that The Fresh Market will open a new store at Congressional Plaza, a 332,000-sq.-ft. regional shopping center in Rockville, Md.
The store, the specialty grocer’s first in Montgomery County, will measure 19,860 sq. ft. Recent openings at the center include Last Call Studio by Neiman Marcus and Matchbox Vintage Pizza Bistro.
Acquired by Federal Realty in 1965, Congressional Plaza is a regional shopping destination anchored by Buy Buy Baby and The Container Store.
Report: Toys ‘R’ Us considers $800 million IPO for April
Wayne, N.J. — A New York Post report on Saturday said that Toys “R” Us is considering an initial public offering in April to raise around $800 million, although a final decision has not been reached.
The retailer shelved IPO plans in 2010; it has not commented on the latest report that IPO talks have resurfaced.
"Toys ‘R’ Us took more market share from competitors last year than they have in the past 20 years," said a Post source. "But I don’t think they were satisfied with how they did on the profit level."
Toys “R” Us was taken private in 2005 by an equity group comprised of Kohlberg Kravis Roberts, Bain Capital and Vornado Realty Trust in a deal worth $6.6 billion.
The retailer reported a loss of $93 million in its fiscal quarter ended Oct. 30, 2010, widened from a year-earlier loss of $67 million.
Office Depot launches sustainable lamp line
BOCA RATON, Fla.— Office Depot announced that it has launched a new line of energy-efficient lamps under the “Realspace” brand. The full range of Realspace lighting is available at more than 1,100 Office Depot retail store locations across the country and online at www.officedepot.com.
According to the company, all Realspace lighting is California Compliant, with each lamp packaged with a low energy light-bulb. The Realspace Collection also offers an assortment of LED lamps, which are 70%more efficient than using incandescent bulbs.
“Office Depot is committed to integrating sustainability into all aspects of our products’ lifecycles,” said Yalmaz Siddiqui, director environmental strategy for Office Depot. “We also believe our customers are looking for everyday environmentally responsible solutions for themselves. Providing energy efficient lighting solutions in our stores is a simple way to lead the change for Office Depot customers to use energy saving lamps, thus reducing energy consumption.”
Prices in the Realspace collection range between $14.99 to $59.99 for desk and task lamps and $39.99 to $89.99 for floor lamps.