REAL ESTATE

Jones Lang LaSalle to lease and manage Houston County Galleria

BY Staff Writer

Centerville, Ga. — Jones Lang LaSalle announced that Gemini Real Estate Advisors has awarded the firm the leasing and management of Houston County Galleria, a 483,893-sq.-ft. regional shopping center located in Centerville, Ga., and anchored by Belk, J.C. Penney and Sears.

Jana Reeves will continue on as the center’s general manager, said Jones Lang LaSalle.

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Walmart brings back Facebook giving campaign

BY CSA STAFF

BENTONVILLE, Ark. — Walmart has launched its 2012 "12 Days of Giving" campaign by calling on Facebook users to once again nominate the nonprofits that are making an impact in their local communities and need support. Each of the "12 Days" will focus on a different giving theme, including hunger, military assistance and disaster relief. For example, the campaign empowers Americans to recognize nonprofits like those providing much needed aid to the victims of this week’s devastating storm in the Northeast as well as those supporting the communities affected by other weather events and wildfires earlier this year. The winning nonprofits will receive a portion of a $1.5 million grant.

Starting today through Nov. 18, users can visit the Live Better tab on Walmart’s Facebook page to nominate a nonprofit providing basic needs in their communities. Grant recipients will be announced daily on Facebook and Twitter from Dec. 10 to Dec. 21.

"There are so many local nonprofits making a positive impact every day and yet, oftentimes we don’t hear enough about them or their needs. With this campaign, we want to recognize these organizations and the difference they are making in their communities," said Sylvia Mathews Burwell, president of the Walmart Foundation. "This holiday season, we are asking and depending on consumers to tell us about the organizations in their communities who need our support. Together, we can help more people who need it most."

During the 2012 "12 Days of Giving" campaign, Walmart is providing a total of $1.5 million in grants to benefit local communities across the country.

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October comps up 2.4% at Target

BY CSA STAFF

A 2.4% same-store sales increase during October was toward the low end of Target’s expectations, but it wasn’t enough to prevent the company from achieving its guidance for the third quarter.

Target reported that its net retail sales for the four weeks ended Oct. 27 were nearly $5 billion, a 3% increase from $4.8 billion reported during October 2011. The 2.4% comp increase was on top of a prior year gain of 3.3%.

"While Target’s October comparable-store sales were near the low end of our expected range, our third quarter comparable-store sales increase of 2.9% was in line with our guidance," said Gregg Steinhafel, chairman, president and CEO. "As we enter the fourth quarter we feel very good about our holiday season merchandising and marketing plans and our ability to deliver outstanding value for our guests while generating strong financial performance for our shareholders."

Steinhafel made no mention of Hurricane Sandy’s impact on the company’s October results in a press release. However, the company did elaborate on several one time beneficial effects that will impact third quarter results when they are release later this month.

In its second quarter 2012 earnings press release Target indicated that in third quarter 2012 it expected adjusted earnings per share of 83 cents to 93 cents and earnings on a GAAP (generally accepted accounting principle) basis to range from 69 cents to 79 cents. The 14 cent difference between the ranges reflected the expected earnings impact of expenses related to the company’s Canadian market launch. Beyond the impact of its Canadian market launch, Target now expects its third quarter GAAP calculation to benefit by four cents due to a favorable resolution of an income tax matter and by 15 cents due to the recently announced sale of the credit card receivables portfolio to TD Bank Group.

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