REAL ESTATE

Sports Authority renews at Miami’s Kendallgate

BY Michael Fickes

New YorkBerkowitz Development Group has inked a lease renewal with Sports Authority for 43,000-sq. ft. at Kendallgate Shopping Center in Miami.

As part of a nationwide effort, the retailer will redesign the store’s interior and incorporate updated exterior signage.

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Loblaw investments bolster its Q2

BY CSA STAFF

Loblaw Companies Limited — which recently announced its plans to acquire Shoppers Drug Mart — reported higher earnings and revenue in the second quarter of fiscal 2013 as compared to the same period in fiscal 2012.

Lolbaw’s net earnings for the quarter totaled USD $173.2 million, up 14% from $151.8 million. The retailer reported revenues of $7.31 billion, a 2% increase from $7.18 billion a year earlier. Same-store sales improved 1.1%.

“The investments we have made to advance our customer proposition once again translated into improved same-store sales performance in an intense competitive environment," said Galen G. Weston, executive chairman of Loblaw. "At the same time, better mix and good expense management delivered improved earnings.”

Galen also said that the IPO of the company’s Choice Properties real estate investment trust and merger with Shoppers Drug Mart, combined with strong quarterly results, should produce positive results moving forward. The company is raising its outlook to expect mid-single digit operating income growth for fiscal 2013.

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Kmart takes pay-in-store option to next level

BY CSA STAFF

HOFFMAN ESTATES, Ill. — Kmart is offering members of its Shop Your Way loyalty program a new payment option called Pay in Store. The program launches nationally this month and allows online shoppers to reserve an item for 48 hours.

Shoppers who select the Pay in Store option will be able to reserve items online, pay at their local Kmart store using cash, check, debit, loyalty points, credit or gift card, and pick up the item onsite if it’s already available on shelves. Similar programs at other retailers allow customers to reserve items that they can then pick up in store, but require shoppers to wait for their items to be delivered to the stores before they can do so, even if items are available in shelves. Kmart is looking to provide members of its loyalty program with a seamless and integrated shopping experience by allowing them to take items home on the spot if they are already in stock.

"With Pay in Store, we offer our members more choices and provide access to online shopping for a large, underserved portion of the U.S. population that wants the convenience of shopping online but does not have a credit card or is reluctant to submit their card information via the Internet," said Imran Jooma, EVP and president, marketing, online, and financial services, Sears Holdings. "We are addressing a need in a way no other large retailer is doing by giving members and customers ultimate flexibility, convenience and choice in how they shop and pay and the satisfaction of walking out minutes later with their items in-hand."

Pay in Store launched in all Kmart stores nationwide in July. Pay with Shop Your Way Points launches in August. The feature gives members and customers who don’t use credit cards access to thousands of items at Kmart.com, which includes categories such as home, fitness and sports, beauty and health, clothing, music, movies and gaming.

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