REAL ESTATE

Haagen Dazs, Gelosia to open at The Palms at Town & Country

BY CSA STAFF

Miami — Haagen Dazs and Gelosia are slated to open at The Palms at Town & Country, in Miami, in mid-November. Haagen Dazs will open a 960-sq.-ft. ice cream store, and Gelosia will open a 1,040-sq.-ft. location.

The Palms at Town & Country, owned by TIAA-CREF, being redeveloped by Flagler Development Group and managed by Jones Lang LaSalle Retail, is home to retailers such as Nordstrom Rack, Loehmann’s, New York & Co., Marshall’s, Men’s Wearhouse, Publix and Shaq’s 24 Hour Fitness.

When the renovation is completed, The Palms at Town & Country will include 700,000 sq. ft. of Mediterranean-themed mixed retail components and a 133,000-sq.-ft. Professional Arts Center.

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REAL ESTATE

Pei Wei Asian Diner to debut in Atlanta

BY CSA STAFF

Atlanta — SRS Real Estate Partners said that Scottsdale, Ariz.-based Pei Wei Asian Diner has selected SRS to find its debut location in the state of Georgia.

Pei Wei was launched in July 2000 as a growth vehicle for P.F. Chang’s China Bistro. Currently, Pei Wei operates more than 165 company-owned stores in 20 states.

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News

Hibett Sports 3Q comps up 12.5%, co. raises outlook

BY CSA STAFF

BIRMINGHAM, Ala. Hibbett Sports reported that net sales for the third quarter increased 14.8% to $167.4 million compared with $145.9 million for the 13-week period ended October 31, 2009. Comparable-store sales increased 12.5%. Net income for the third quarter increased 43.5% to $12.6 million compared with $8.8 million for the third quarter of fiscal 2010. Earnings per diluted share increased 45% to 44 cents compared with 30 cents for the third quarter of fiscal 2010.

Jeff Rosenthal, president and CEO, stated, “We are very excited about our performance over the last three quarters. Not only has Hibbett achieved three consecutive quarters of double digit comparable store sales growth, we have also experienced continued margin improvement. As a result, we are raising our earnings guidance for fiscal 2011. In addition, we are accelerating our store opening plans for this year.”

The company increased its earnings guidance for fiscal 2011 to a range of $1.63 to $1.66 per diluted share, which equates to 47 cents to 50 cents per diluted share for the fourth quarter, and a mid-single-digit increase in comparable-store sales for the fourth quarter.

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