REAL ESTATE

Two new outlet projects to be developed

BY Katherine Boccaccio

Indianapolis — Simon Property Group Tanger Factory Outlet Centers announced Wednesday a joint venture to develop two new upscale outlet centers in Charlotte, N.C., and Columbus, Ohio.

The two companies said they will build a 350,000-sq.-ft. outlet center – branded Charlotte Premium Outlets — in Charlotte in a location previously announced by Tanger, eight miles southwest of uptown Charlotte. There is also the potential of a 50,000-sq.-ft. expansion from the first phase of the project. Opening is slated for spring 2014 and is expected to feature more than 90 upscale brand name and designer outlet stores.

Simon and Tanger also plan to build an approximately 350,000-sq.-ft. center in Columbus, branded Tanger Outlets. The center is planned to open in time for the 2014 holiday season. When completed, the center will be home to more than 90 upscale brand name and designer outlet stores.

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FINANCE

Kroger profit leaps in Q3, raises forecast

BY Katherine Boccaccio

Cincinnati — Kroger Co. reported Thursday that net income for the quarter ended Nov. 3 rose to $316.5 million, compared with $195.9 million in the year-ago period.

Total sales rose 6% to $21.81 billion, beating Wall Street’s expected revenue of $21.55 billion.

Same-store sales rose 3.2%.

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FINANCE

Aeropostale net income edges up in Q3

BY Katherine Boccaccio

New York — Aeropostale reported Thursday that profit for the third quarter rose to $24.9 million, from $24.1 million last year.

Sales increased 2% to $605.9 million, beating Wall Street’s expected $601.2 million. Same-store sales dipped 2%.

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