REAL ESTATE

Publix opening completes Boynton Lakes Plaza redevelopment

BY Katherine Boccaccio

Boynton Beach, Fla. — Jacksonville, Fla.-based shopping center owner Regency Centers said it has completed the redevelopment of Boynton Lakes Plaza, a 117,124-sq.-ft. neighborhood center in Boynton Beach, Fla., which included the addition of a 45,000-sq.-ft. Publix.

The new grocery anchor relocated from an undersized store in a nearby center and is slated to open on June 9.

Boynton Lake Plaza’s redevelopment included the demolition of a former Winn-Dixie store and the construction of anchor and side shop space, new exterior facade and architectural components, parking lot improvements, upgraded lighting and landscaping.

As part of Regency’s Greengenuity program to reduce the environmental impact of developing and operating shopping centers, the project incorporated basic sustainable elements such as recycling building materials, installing heat-reflective roof material and employing environmentally friendly plumbing fixtures, paint and coatings.

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FINANCE

Fresh Market Q1 profit soars 43%; on track to open up to 16 stores in 2012

BY Katherine Boccaccio

Greensboro, N.C. — Fresh Market reported Wednesday that profit for the first quarter climbed 43% to $19.3 million, from $13.5 million in the year-ago period.

Revenue rose 23% to $324.8 million, compared with $264.5 million in the previous year and surpassing Wall Street’s expected $310.6 million in revenue. Same-store sales increased 8.2%. The strong performance across the board prompted the grocer to bump its outlook for the year.

For fiscal 2012, the company said it expects to open 14 to 16 new stores, as well as relocate one store and remodel two.

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News

Toys”R”Us CEO, Nordstrom Direct president to headline online event

BY CSA STAFF

Toys“R”Us chairman and CEO Jerry Storch and Nordstrom Direct president Jamie Nordstrom are among the featured speakers at the Shop.org annual summit.

The annual event organized by Shop.org, a division of the National Retail Federation, will be held September 10 to 12 and the Colorado Convention Center and is billed as the premier gathering for retail e-commerce, digital and multichannel retailers.

“This is truly a ‘win’ for our digital community and the thousands of retail executives who will take part in the Summit this year,” said Vicki Cantrell, NRF’s SVP for communities and executive director of Shop.org. “Both will be instrumental in elevating the dialogue at the Summit as they bring first-hand insight into the ever-changing world of retail and e-commerce. Our audience will greatly benefit from the expertise and insight of these retail visionaries.”

Storch joined Toys“R”Us in February 2006 as chairman and CEO after a career at Target. He has led the rapid growth of the Toys“R”Us e-commerce business which now exceeds $1 billion and in 2009 added to the company’s U.S. portfolio of online brands with the acquisitions of eToys.com, KBToys.com, Toys.com and FAO.com.


Jamie Nordstrom supports Nordstrom.com, mobile, catalogs and fulfillment center operations and, together with the executive team, has helped lead the company’s efforts to improve the customer experience in store and online. Nordstrom began his career at the company working in the stockroom and went on to hold various positions in sales, store and buying management before receiving his current assignment.

NRF founded its Shop.org division in 1996 and today includes 600 members, including the 10 largest retailers in the U.S. and more than 60% of the Internet Retailer Top 100 E-Retailers.

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