REAL ESTATE

RadioShack inks deal in New Jersey shopping center

BY Michael Fickes

North Plainfield, N.J. — RadioShack has leased 2,556 sq. ft. at the 175,515-sq.-ft Hamilton Plaza in Hamilton Township, N.J., according to Levin Management, the property’s managing and leasing agent. Metro Commercial Real Estate Inc. served as the tenant’s broker in the transaction.

A newly expanded ShopRite and a new Petco anchor the center, which serves a growing residential population of more than 170,000 people within a five-mile radius. Average annual household income is more than $88,000, and the daily traffic count is about 48,000 vehicles.

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P&G Professional unveils new e-commerce site

BY CSA STAFF

LONDON — P&G Professional, a division of Procter and Gamble that supplies professional cleaning products to hotels, restaurants, care homes and other businesses, has unveiled an e-commerce site making P&G Professional’s new range of specialist branded cleaning products available for online purchase.

Products featured in the WebShop will not be available to purchase in cash and carry or retail stores. Customers who purchase from the WebShop will also get access to exclusive online promotional offers.

"This is an exciting milestone for P&G Professional. Professionals are turning to online shopping in droves as they struggle to find time to balance the art of running a business with replenishing supplies,” said Jayne Clark, P&G Professional sales director, U.K. and Ireland. “The new convenient WebShop will help serve the needs of busy professional operators — giving them 24/7 access to convenient online ordering and delivery from a trusted supplier when it suits them."

Powered by P&G’s trusted technology and color-coded for multiple language environments, the new product range has been designed for customers of direct distribution and is available to buy with user guides, hygiene plans and dosing aids.

Across November and December, the WebShop will be offering professional shoppers special Christmas bundles with free quality dishcloths on every order over £25.

"At P&G Professional, we’ve always prided ourselves on our ability to deliver innovations which make the lives of customers and their clients that little bit easier. Online ordering is an important part of the future of our business and we’re delighted that our customers now have a new way to order our trusted brands," added Clark.

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Blue Nile’s international business bolsters third quarter results

BY CSA STAFF

Blue Nile, a leading online retailer of diamonds and fine jewelry, experienced its sixth consecutive quarter of double digit growth.

Net sales increased 10.1% to $98.9 million for the third quarter, compared to $89.8 million for the year-ago quarter.

"These results demonstrate once again that our strategy is working. Our third quarter sales increase of 10.1% is on top of 19.8% in the prior year and is our sixth consecutive quarter of double digit growth," said Harvey Kanter, president and CEO. "For the upcoming holiday season, we are excited to feature a rich product assortment delivered through an enhanced user experience on the PC, tablet, and phone, and supported by our industry-leading customer service."

Blue Nile’s board authorized the renewal of the company’s share repurchase program. The company is authorized to repurchase up to $100 million of its common stock throughout a two-year period.

"The renewal of our repurchase program underscores our continued confidence in the strength of our business model and reflects our commitment to delivering value to our shareholders," said Kanter.

U.S. engagement net sales for the quarter increased 7.1% to $57.9 million, compared to $54.1 million for the third quarter of 2012. International net sales for the quarter soared 22.9% to $17.1 million, compared to $13.9 million for the third quarter 2012. Excluding the impact from changes in foreign exchange rates, international net sales climbed 27.6%.

The company anticipates net sales to be between $146 million and $161 million for the fourth quarter ending Dec. 29, and projects earnings per diluted share at $0.37 to $0.46.

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