FINANCE

Weis Markets profit rises 11% in 2011

BY Katherine Boccaccio

Sunbury, Pa. — Weis Markets reported Monday that net income for the year ended Dec. 31 increased 10.7% to $75.6 million. Sales for the period rose 5% to $2.8 billion, and same-store sales increased 4.2%.

In the fourth quarter, the grocer saw an even stronger performance, as net income surged 37%, sales rose 11.4% and comps increased 4.8%.

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REAL ESTATE

Updates planned for Northridge Fashion Center

BY Katherine Boccaccio

Northridge, Calif. — Chicago-based General Growth Properties said Monday it will update its Northridge Fashion Center property, in Northridge, Calif., by modernizing and enhancing both the interior and exterior of the shopping center.

Renovations to the property launch in February and include new flooring, new interior and exterior dining areas, revamped color palette and lighting, a re-invented Macy’s Court with a Cyberlounge, a new Children’s Play Area, and updated entrance façade, way-finding signage and lighting.

Northridge Fashion Center is anchored by Macy’s, Macy’s Men’s & Home Furnishings, J.C. Penney and Sears. Other tenants include H&M, Apple, Disney Store, Coach, and Love Culture.

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News

Cultivating an image on not so distant lands

BY CSA STAFF

Target is looking to get ahead of the curve in major media markets by placing communications executives in such places as Dallas, Los Angeles, New York and Toronto in addition to those at the Minneapolis home office, Ad Age reported on Monday.

Target tends to receive kinder press treatment than its larger rival Walmart, but the ill wind of negative media sentiment could eventually blow Target’s way more forcefully. So being more proactive with media professionals in the field is a good idea as it will be better able to establish new relationships with news outlets and deepen existing relationships. The strategy worked pretty well at Walmart, which undertook a similar action more than five years ago to counteract a withering attack on its reputation from critics. To learn more and see what Ad Age had to say about the new approach at Target, click here.

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