REAL ESTATE

Whole Foods opens at Paseo del Sol

BY CSA STAFF

Santa Barbara, Calif. Jacksonville, Fla.-based Regency Centers said Monday that Whole Foods Market has opened at the developer’s Paseo del Sol shopping center in Santa Barbara.

Paseo del Sol is registered in the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) green building rating system.

The 29,700 sq. ft. store is the first Whole Foods Market location in Santa Barbara and the key anchor tenant at the new development.

The Whole Foods opening at Paseo del Sol marks the shopping center’s formal name change, according to Regency. Previously known as Shops of Santa Barbara, Paseo del Sol features 51,848 sq. ft. of space for retail, restaurants and service businesses.

The Whole Foods opening is a milestone event for the center which is registered for certification with the USGBC’s LEED program. The center features a cutting-edge green and sustainable design as chartered by Regency’s “greengenuity” program, which follows the latest advances in green building design, construction, operations and maintenance to reduce the use of natural resources and to increase operational efficiencies at the company’s new developments and existing shopping centers.

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Borders introduces In-Stock Guarantee or free shipping

BY CSA STAFF

ANN ARBOR, Mich. Borders launches the industry’s first-ever “In-Stock Guarantee,” promising customers that if they do not find an item in stock in a Borders store and that item is among the more than one million titles available on Borders.com, Borders will find it and pay the shipping costs to the customer’s home.

Borders’ “In-Stock Guarantee” applies to any item carried on Borders.com. There is no per-customer limit on the number of items eligible for this program. The “In-Stock Guarantee” program runs through most of the holiday season, with Dec. 16 as the final date items can be located and reach customers in time for Christmas.

The “In-Stock Guarantee” applies only to Borders bricks and mortar stores, but there is also a free shipping program available online at Borders.com as well. Generally, orders over $25 purchased on Borders.com will be shipped for free. Orders placed on the site before Dec. 16 will reach customers in time for the holiday.

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Big 5 sees strong third quarter

BY CSA STAFF

EL SEGUNDO, Calif. Big 5 Sporting Goods reported that for the fiscal 2009 third quarter, net sales increased to $231.6 million from net sales of $223.2 million for the third quarter of fiscal 2008. As the company previously reported, same-store sales increased 1.6% for the third quarter.

Net income for the third quarter of fiscal 2009 improved to $8 million, or 37 cents per diluted share, from net income of $4.5 million, or 21 cents per diluted share, for the third quarter of fiscal 2008.

 

“We are pleased to deliver a solid third quarter top and bottom line performance, as our customer value proposition and proven business model continue to produce positive results,” said Steven Miller, the company’s chairman, president and CEO.

Miller continued, “We are encouraged that the positive sales trends we experienced during the third quarter have continued, and actually improved, thus far in the fourth quarter. For the first five weeks of the quarter, we have comped positively in the low single-digit range. While the critical holiday period is still ahead and consumer spending habits remain unpredictable, we are excited about our product assortment and promotional plans and believe that our ability to provide tremendous values on quality merchandise will position us well during the gift-giving season.”

For the fiscal 2009 fourth quarter, the company expects same-store sales in the positive low to low-mid single-digit range and earnings per diluted share in the range of 28 cents to 38 cents. For comparative purposes, the company’s earnings per diluted share for the fourth quarter of fiscal 2008 were 17 cents.

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