REAL ESTATE

Sembler announces lease transactions

BY CSA STAFF

St. Petersburg, Fla. The Sembler Co. announced it leased almost 24,000 sq. ft. of retail during the month of November.

Leases signed include Mattress Firm, which will open a 3,600-sq.-ft. location at Midtown Place in Atlanta; Men’s Wearhouse, which will open in 1,450 sq. ft. at Legacy Place in Palm Beach Gardens, Fla.; and TGI Friday’s, which will open a 6,689-sq.-ft. restaurant at Crossroads shopping center in St. Petersburg, Fla.

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Target opens holiday To-Go shops

BY CSA STAFF

MINNEAPOLIS Target announced that it is hosting three limited-time-only Target To-Go shopping events in New York City, San Francisco and Washington, D.C.

The To-Go shops will feature 50 items, including toys, gadgets, home decor, beauty and fashion. Customers order the items by number, which come wrapped and ready for gift giving.

 

“This holiday, we wanted to give our urban markets a little slice of Target,” said Shawn Gensch, VP marketing, Target. “We’re always trying to reach our guests in new and interesting ways, and Target To-Go gives time-starved city dwellers a joyful, convenient and affordable holiday shopping experience.”

Target To-Go will be open to the public from Dec. 11 to Dec. 13, from 10 a.m. to 8 p.m. daily.

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Collective Brands 3Q comps up, earnings down

BY CSA STAFF

TOPEKA, Kan. Collective Brands reported that third-quarter 2009 net earnings were $36.9 million, or 57 cents per diluted share, compared with $47.5 million, or 74 cents per diluted share, in the third quarter of 2008.

Collective Brands’ third-quarter 2009 net sales were $867 million, up 0.5% versus last year and up 2.9% versus last year on an adjusted basis. The company’s third-quarter 2009 comparable-store sales increased 3.1%.

 

“Our strong third quarter operating results demonstrate the success of our strategy in the midst of a difficult economy,” said Matthew Rubel, chairman, CEO and president of Collective Brands. “Sales increased, operating margins improved, and we generated substantially greater free cash flow. At Payless, we had strong children’s results that produced a successful back-to-school season, and we had a strong boot performance as well. Saucony and Sperry Top-Sider also showed continued strength. Across Collective Brands, we delivered on our customer promise with innovative and fresh product, outstanding customer service, effective marketing, and efficient merchandise flow, all of which led to strong results.”

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