OPERATIONS

Lack’s retains DJM Realty to dispose of all retail and warehouse locations

BY CSA STAFF

Victoria, Texas — Lack Properties and Lack’s Stores said Thursday it has hired Melville, N.Y.-based DJM Realty, a Gordon Bros. Group company, to manage the disposition of all leased and owned retailer and warehouse facilities throughout Texas.

Lack’s is an independently owned retail home furnishings chain operating as Lack’s and Lacks Home Furnishings.

DJM Realty will be marketing 35 retail locations which range from 16,000 sq. ft. to 70,000 sq. ft., as well as four warehouse facilities, which includes a 380,000-sq.-ft. distribution center in Schertz, Texas.

Lack’s Stores, which recently filed for Chapter 11, is currently liquidating its inventory through its stores until closing sales are complete. The retention of DJM is subject to the approval of the U.S. Bankruptcy Court overseeing the Chapter 11 proceeding in Victoria, Texas.

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REAL ESTATE

H&M to open largest store to date in Las Vegas

BY CSA STAFF

New York City — Fast-fashion retailer H&M will open its largest store to date on Saturday, at the Forum Shops at Caesars, on the Las Vegas Strip.

The three-level, 55,000-sq.-ft. store, which will sell women’s, men’s and children’s clothing, shoes and accessories, is located in a building that formerly housed FAO Schwarz. The toy store, which closed last January, had occupied the space, along with its iconic Trojan horse, since 1997.

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FINANCE

First Data: Average ticket up in November

BY CSA STAFF

New York City — Retailers performed well in November with dollar volume growth of 8.5%, compared with 5.2% in October, according to First Data’s SpendTrend Analysis for November. The report includes same-store consumer spending via credit, signature debit, PIN debit and EBT cards at U.S. merchant locations.

First Data also reported that credit growth was the highest in over a year as year-over-year credit transactions rose 5.4% in November. In other findings, after five consecutive months of year-over-year declines, overall average tickets grew 0.4% in November, after declining 1.7% in October.

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