Rooftop solar program awarded top honors by ICSC
Las Vegas Developers Diversified Realty Corp. announced that the International Council of Shopping Centers (ICSC) presented the company with the “Best-of-the-Best” award during its annual conference in Las Vegas, called RECon, for the company’s innovative rooftop solar panel program.
“Best-of-the-Best” awards honor and recognize the top examples of shopping center design and development, sustainability, marketing, and community service worldwide. Developers Diversified was awarded top honors in the marketing category.
Developers Diversified entered into a partnership last year with solar energy services provider, SunEdison, for the rights to deploy solar energy systems at over 200 shopping centers throughout the United States. Between December 2009 and February 2010, solar panel arrays were activated at Developers Diversified shopping centers in New Jersey.
The active projects in New Jersey are located at Nassau Park Pavilion in Princeton; Hamilton Marketplace in Hamilton; and Route 22 Retail Center in Union. These projects total over 143,000 sq. ft. of available roof space for solar panels and will generate approximately 1.4 million kilowatts (kWh) of solar energy in the first full year of operation. Over 20 years, the sites will generate approximately 26 million kilowatt-hours, enough energy to power over 2,400 homes for one year.
Hibbett reports strong Q1, raises outlook
BIRMINGHAM, Ala. Hibbett Sports reported that net sales for the first quarter ended May 1 increased 17% to $184.5 million compared with $157.7 million for the first quarter ended May 2, 2009. Comparable-store sales increased 14.5%.
Net income for the first quarter of Fiscal 2011 increased 58.9% to $17.3 million compared with $10.9 million for the first quarter of fiscal 2010. Earnings per diluted share increased 56.8% to 59 cents compared with 38 cents for the first quarter of fiscal 2010.
Jeff Rosenthal, president and CEO, stated, “The strong sales trend we experienced in the fourth quarter of last year continued throughout the first quarter of this year and into the second quarter. Our overall positive sales performance was driven by double-digit increases in footwear and apparel. The broad-based improvement and exceptional operating margin give us confidence in our optimistic outlook for the remainder of the year.”
The company increased its earnings guidance for fiscal 2011 to a range of $1.35 to $1.50 per diluted share based on mid- to high-single-digit increases in comparable-store sales for the full year.
Target prepares for hurricane season
MINNEAPOLIS Target announced that it will serve as a destination for consumers looking to prepare for hurricane season during National Hurricane Preparedness Week, May 23 to 29.
Target pointed to the number of services it offers including a 24-hour daily command center that monitors global events that could impact its customers and associates. The retailer also said its stores will remain open as long as possible during an emergency to help communities get the supplies they need and holds merchandise in its distribution centers in advance of hurricane season so that it can get supplies to stores as quickly as possible.
“We want our guests to know that before and after a crisis, communities can count on Target,” says Brad Brekke, VP Target assets protection.