REAL ESTATE

Neiman Marcus opens 42nd store, making California its third largest market

BY Katherine Boccaccio

Dallas — Neiman Marcus Group said Friday it has opened its 42nd store, a full-line department store in Walnut Creek, Calif. The opening of the store makes California the retailer’s third largest market, behind Texas and Florida.

Neiman Marcus Walnut Creek features 85,870 sq. ft. of dedicated specialty retail space, personal shopping areas for men and women, cosmetics treatment rooms, an NM Café and a special events room.

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OPERATIONS

Guess uses Pinterest to launch contest

BY Staff Writer

Los Angeles — Guess Inc. has grabbed onto the Pinterest social media tool to launch a new contest for its customer base.

The “Color Me Inspired” contest, for which Guess collaborated with four style bloggers, invites the Pinterest community to showcase how color inspires them for a chance to win a pair of color-coated denim from the Guess spring collection.

The one-week Pinterest campaign kicked off on March 8.

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REAL ESTATE

DDR adds two Dick’s Sporting Goods stores at Utah properties

BY Katherine Boccaccio

Beachwood, Ohio — Mall owner DDR Corp. said Friday that Dick’s Sporting Goods will open stores at two of its shopping centers in Utah.

The new Dick’s Sporting Goods locations will replace former F.Y.E. stores and result in higher and longer-term contracted rents. At the same time, the re-tenanting improves the merchandise mix and credit quality of cash flows at the shopping centers by replacing underperforming stores with a market-share and category-leading retailer.

"Retailers continue to search for new stores in a supply-constrained environment of mid-size and big-box locations, resulting in significant opportunities for owners of high-quality shopping centers to creatively work with growing tenants like Dick’s Sporting Goods," said Paul Freddo, senior executive VP leasing and development for DDR.

Dick’s Sporting Goods will open a 54,000-sq.-ft. store in fall 2012 at The Family Center at Orem, a 282,000-sq.-ft. shopping center anchored by Jo-Ann fabric and crafts, Toys "R" Us and Babies "R" Us.

Dick’s Sporting Goods will also open a 49,000-sq.-ft. store in fall 2012 at The Family Center at Fort Union, a 670,000-sq.-ft. power center anchored by Walmart Supercenter, Bed Bath & Beyond, Ross Dress For Less, DSW, Petco and Michaels.

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