REAL ESTATE

Hhgregg leases former Linens ’N Things space in Virginia Beach

BY CSA STAFF

Virginia Beach, Va. Divaris Real Estate announced that a lease was signed with Hhgregg for 37,500 sq. ft. of retail space at Princess Anne Plaza West, a Harris-Teeter and Sam’s Club-anchored shopping center located in Virginia Beach, Va.

The Divaris-leased shopping center also has PetSmart and Pier 1 Imports as junior anchor tenants.

The space that Hhgregg will occupy was formerly the site of a Linens ‘N Things store.

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Talbots income up, sales down

BY CSA STAFF

HINGHAM, Mass. Talbots reported adjusted third-quarter net income from continuing operations of $17.2 million or 31 cents per diluted share, excluding restructuring and impairment charges, compared with last year’s net loss of $12.4 million or 23 cents per share on a comparable basis.

Total sales from continuing operations for the third quarter were slightly better than company expectations and were $308.9 million compared to last year’s sales of $357.3 million, Talbots reported.  Comparable-store sales declined 15.9% for the thirteen-week period.

 

For the fourth fiscal quarter of 2009, the company currently anticipates a loss from continuing operations in the range of 6 cents to 14 cents per share, excluding restructuring and impairment charges and other special items. This anticipated result is based on a top-line sales decline planned to be in the range of approximately 6% to 8%. Talbots expects fourth-quarter top-line sales to be impacted by reduced levels of markdown merchandise.

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Winn-Dixie names group VP perishables

BY CSA STAFF

JACKSONVILLE, Fla. Winn-Dixie Stores announced the appointment of James Smits as group VP perishables. In this role, he will be responsible for all aspects of sales and merchandising for the grocer’s perishable departments and will report directly to Winn-Dixie’s chief merchandising and marketing officer Dan Portnoy.

Most recently, Smits served as the group VP fresh food merchandising at Supervalu. He began his career at H.E. Butt Grocery Company, where he spent 23 years. While there, he rose to become both VP produce and floral marketing and procurement and VP marketing and merchandising of their North Texas region.

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