REAL ESTATE

Tanger and Peterson Companies break ground on Tanger Outlets National Harbor

BY Staff Writer

Greensboro, N.C. — Tanger Factory Outlet Centers and Peterson Companies announced that construction has commenced on Tanger Outlets National Harbor, located in the National Harbor, the Washington, D.C., area’s premier waterfront resort destination.

Developed by Peterson Companies, National Harbor comprises 350 acres of prime real estate along the scenic Potomac River in Prince George’s County, Md. Tanger Outlets National Harbor will feature approximately 80 leading brand name and designer outlet stores.

The new outlet center will be co-owned by Tanger Factory Outlet Centers and Peterson Companies and will be branded as Tanger Outlets National Harbor. Tanger and Peterson will each own a 50% interest in the project and will jointly provide site development and construction supervision services to the venture. Tanger Outlet Centers will provide management services, leasing and marketing to the joint venture.

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OPERATIONS

TCBY to open flagship and training center in Colorado

BY Staff Writer

Broomfield, Colo. — TCBY, The Country’s Best Yogurt will open a flagship in Broomfield, Colo., which will also serve as the company’s training center for its domestic and international franchisees.

Located at the base of its corporate headquarters at Arista Place, construction of the new store will begin in December with a target opening date scheduled for early March 2013. In addition to the company’s TCBY and Greek soft-serve frozen yogurt, the corporate location will also introduce its first Live Culture bar featuring fresh Greek yogurt and antioxidant juices used to create delicious smoothies.

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News

ALCO Stores reports favorable quarterly results

BY CSA STAFF

ABILENE, Kan. — Broad-line retailer ALCO Stores asserted that it is off to a favorable start this holiday season, after reporting a 2.7% in sales from continuing operations for the quarterly period ending November 25.

ALCO reported a profit for the fiscal four-month period ending November 25, showing an increase of $42.4 million from $41.3 million during the same period last year. Its same-store sales dipped 1.7% from a year earlier. Year-to-date figures also increased 1.8% to $383 million from $376.2 million during the same period last year. Year-to-date same-store sales dipped 1.3% from last year.

“We are pleased with ALCO’s 2.7% increase in total sales, which reflects a good start to the holiday shopping season and the contribution of our newer stores,” said Rich Wilson, president and CEO. “In particular, sales at our two newest locations in Cut Bank, Montana, and Tioga, North Dakota, are both exceeding forecast. On a same-store basis, performance in November was strong in key holiday-season businesses, primarily toys, electronics, housewares, domestics, stationery and Christmas. In addition, the food and consumables businesses delivered same-store sales increases for November. Decreases in our apparel business negatively impacted the total same-store sales by 2.3%, primarily as a result of lower sales of cold-weather apparel.”

The retailer, which has been in business for 111 years, is primarily located in small underserved communities across 23 states and operates a total of 217 stores that offer both brand name and private label products.

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