REAL ESTATE

Legoland Discovery Center breaks ground near Boston

BY Dan Berthiaume

Somerville, Mass. – Merlin Entertainments has reportedly broken ground on a new Legoland Discovery Center location at the 50-acre, mixed-use Assembly Row development in Somerville, Mass. According to the Boston Globe, the 44,000-sq.-ft. store will open in May 2014.

The store will be the only Legoland location in New England and employ about 100 people. Other retailers planning to open stores at Assembly Row include Nike, Brooks Brothers, Chico’s, and J.P. Licks.

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FINANCE

PetSmart expects FY13 sales growth of 3%-4%

BY Dan Berthiaume

Phoenix – PetSmart Inc. has issued guidance for fiscal year 2013 for total sales growth of 3%-4%, as well as same-store sales growth of 3%-4%, compared to the prior fiscal year. PetSmart also slightly downgraded previous same-store sales guidance for the third quarter of fiscal 2013 to 2.2%-2.5%, from previously issued guidance of 3%-4%.

“In light of our 2013 Analyst Day, we wanted to provide an update on our expected results for the third quarter and full year,” said David Lenhardt, CEO of PetSmart. “We are pleased to be able to reaffirm our annual guidance for 2013, along with our third quarter 2013 guidance for most of our key metrics, including EPS and EBT margin expansion. While we are still in the quarter, we now expect comparable same store sales growth in the range of 2.2% to 2.5%, as a result of a challenged consumer environment and lower customer traffic. Our reaffirmation of third quarter EPS guidance and all full year 2013 guidance metrics reflects our solid execution and the strength and the stability of our business.”

PetSmart will release full third quarter results on Nov. 22.

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REAL ESTATE

Report: CVS, Starbucks, other retailers coming to Boston’s South Station

BY Dan Berthiaume

Boston – Retailers including CVS and Starbucks, as well as Tavern in the Square and an independent bookstore, are soon coming to the South Station transportation terminal in Boston.

According to the Boston Globe, real estate management firm Equity Office says CVS will open a two-story store in South Station in March 2014. Construction, including an elevator and escalator, is expected to start in November 2013.

In addition, Starbucks has signed a South Station lease but does not yet have a target date for opening and Tavern on the Square plans to open a 40-seat restaurant/pub by the end of November 2013. Also independent bookstore Barbara’s Bestsellers, which closed during the summer, is expected to reopen in a different location in South Station in the near future.

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C.Brewer says:
Oct-23-2013 02:35 pm

new retail in South Sttion
Great new additions for waiting passengers. Good service components

C.Brewer says:
Oct-23-2013 02:35 pm

Great new additions for waiting passengers. Good service components

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