REAL ESTATE

Report: Sephora to open 50 stores in Latin America by 2016

BY Staff Writer

New York — Sephora plans to open 50 stores in Latin America by 2016, the San Francisco Business Times reported.

Sephora opened its first Latin American store in 2011, in Mexico City. It was followed by locations in Puebla and Guadalajara and another one in Mexico City in 2012. It plans to open an additional five locations in the country in 2013.

It is also expanding in Brazil — the third largest beauty market in the world — with four new stores this year and another six in the pipeline, according to the report.

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A.Smith says:
Mar-21-2013 06:57 am

A good news to the shoppers and a big success to the store as well. With this expansion, we the customers will have more options to choose as to where we are going to shop. - JustFab

A.Smith says:
Mar-21-2013 06:57 am

A good news to the shoppers and a big success to the store as well. With this expansion, we the customers will have more options to choose as to where we are going to shop. - JustFab

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REAL ESTATE

Walmart Canada opens 200th supercenter

BY Marianne Wilson

Mississsauga, Ontario — Walmart Canada on Friday opened its 200th supercenter, in Edmonton, Alberta. Today’s grand opening marks a major milestone for Walmart Canada. The company opened its first supercentres in Ontario in 2006. Today, Walmart Canada has supercentres in six provinces and 373 stores nationwide serving more than eight million customers each week.

Edmonton-Abbottsfield Walmart Supercentre is one of 73 real estate projects planned for the company’s current fiscal year, which will add 4.6 million sq. ft. of retail space to its operations by Jan. 31. The 73 projects include building new stores and expanding, remodeling or relocating existing stores and represent an investment of more than $750 million in Canadian communities. These projects include 39 former Zellers stores and will generate more than 14,000 store, trade and construction jobs.

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M.C says:
Mar-23-2013 02:44 pm

The company continued to show their great success, and this is clearly seen with their ongoing expansion in different areas around the country. - Michael Courouleau

M.C says:
Mar-23-2013 02:44 pm

The company continued to show their great success, and this is clearly seen with their ongoing expansion in different areas around the country. - Michael Courouleau

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REAL ESTATE

Loblaw Cos. to spin off real estate into REIT

BY Staff Writer

New York — Canada’s Loblaw Cos. Ltd. plans to spin off the vast majority of its property assets into a real estate investment trust. The retailer said it plans to spin off real estate worth more than C$7 billion ($7.05 billion) into the REIT and sell units of the trust through an initial public offering that it hopes to complete by mid-2013.

"We are announcing this today because we feel the timing is right for both our business and the capital markets," said Galen Weston, Loblaw’s executive chairman, on a conference call, according to Bloomberg. "The size and quality of our real estate assets should be appealing to investors."

Loblaw said its real estate portfolio spans an estimated 47 million sq. ft., according to the report. As part of the transaction, Loblaw plans to contribute about 35 million sq. ft. to the REIT, and it will enter into long-term lease arrangements with the REIT on those properties.

Loblaw said it intends to retain a significant majority interest of over 80% in the REIT.

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