REAL ESTATE

Walgreens re-opens two stores in Joplin, Mo., construction and repairs done in record time

BY Marianne Wilson

Deerfield, Ill. — Walgreens on Monday celebrates the re-opening of two Joplin, Mo., stores just 90 days after one was severely damaged and the other demolished by a tornado that swept through the city on May 22. The drug stores are the first major retailers in the area to re-open since the storm.

The store at Range Line Road and 20th Street was completely rebuilt from the foundation up at a pace faster than any other store in the company’s 110-year history.

“This was truly a herculean effort by everyone involved,” said district manager Ryan Kruger “We are especially appreciative to city officials for streamlining the permitting process, to our materials suppliers for the breakneck speed in which materials arrived at the site and to countless others for offering their support and resources in completing this coordinated rebuilding project in record time.”

The reconstruction of the Walgreens store, which was only a year old when the storm hit, was also aided by the use of its original building plans. Typically a store of this size takes the company roughly six months to complete.

Extensive repairs to the second location, at Main and 20th Streets, were also completed at a swift pace, with the store’s interior being gutted to the studs and entirely renewed. Walgreens has provided pharmacy services from trailers in the parking lots of both stores since days after the tornado.

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REAL ESTATE

Casual Male to open 13 additional DXL stores by yearend

BY Marianne Wilson

Canton, Mass. — Casual Male Retail Group continues to roll out its DestinationXL format, with the opening of its eighth store, in Fairless Hills, Pa.

DXL is an all-inclusive destination that encompasses Casual Male’s four existing apparel businesses, Casual Male XL, Rochester Big & Tall, Shoes XL and B&T Direct.

The company plans to open up to 13 DXL stores during the balance of 2011, another 20-30 stores during 2012 and approximately 100 stores over a four to five year period.

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FINANCE

Net income up 33% at Ann Taylor

BY Marianne Wilson

New York City — Ann Inc., formerly known as Ann Taylor Stores Corp., reported that its second -quarter earnings rose 33% $24.8 million, helped by strong online sales and a jump in revenue at the company’s Loft stores. The company raised its full-year sales guidance, saying it is confident despite the challenging consumer environment.

It was the company’s eighth consecutive quarter of double-digit earnings growth

Sales were $558.2 million, topping expectations of $551.4 million from analysts. Same-store sales rose 8.6%. The measure rose 5.3% at Ann Taylor, up 0.6% at regular stores, 32% at the company’s website, and 6.5% at factory stores.

Same-store sales rose 11% at Loft, up 8.6% at Loft, 33.5% on the web and 23.7% at outlet stores.

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