REAL ESTATE

Report: Microsoft may open Manhattan store

BY Dan Berthiaume

Redmond, Wash. – Microsoft Corp. is reportedly negotiating to open a new store on Fifth Avenue in Manhattan. According to the New York Daily News, the site is only a few blocks from Apple’s large “glass cube” store in New York.

The 8,700-sq.-ft., two-story building was previously occupied by luxury specialty retailer Fendi, which relocated its store to a Madison Avenue site in 2013. Commercial brokerage firm Cushman & Wakefield is marketing the space and Asian real estate firm King Fook is the landlord. Microsoft operated a pop-up shop in Times Square in 2012 but does not currently have a retail store in New York City. Microsoft did not comment on the report.

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FINANCE

Susser Holdings swings to Q2 profit; plans 17 new stores

BY Dan Berthiaume

Corpus Christi, Texas – Susser Holdings Corp. reported net income of $12.3 million in the second quarter of fiscal 2014, compared to a net loss of $4.3 million in the same quarter a year earlier. The elimination of a debt refinancing charge helped bring Susser back to profitability.

Susser plans to open 17 new Stripes convenience stores by the end of the year. The company also is is on track to merge with Dallas-based natural gas and propane company Energy Transfer Partners (ETP) in the third quarter of fiscal 2014.

Second quarter consolidated revenues were $1.87 billion, up 20% from $1.56 billion in the second quarter of 2013. Same-store sales rose 4%, aided by a shift in the Easter holiday.

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REAL ESTATE

Yellow Box store makes California debut

BY Marianne Wilson

Columbus, Ohio — DSW’s Affiliated Business Group division and Yellow Box Corporation have opened the first-ever Yellow Box Footwear store in California, at the Westfield Topanga Mall, in Canoga Park.

Founded in 1998, Yellow Box is a footwear wholesaler best known for its jeweled sandals for women. The Yellow Box retail concept made its debut in June, with a store in Miami.

"We are very excited to debut our first Yellow Box Footwear store in southern California,” said Affiliated Business Group’s senior VP and general manager Christopher Lanning. “Yellow Box is a proven women’s footwear brand with a strong positioning in the market place. Customers will have a great opportunity to experience Yellow Box’s unique brand of fun and fashion in an incredible retail setting."

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