Denver Business Journal | Walmart Confirms Plans for Boulder Store

DAI-Walmart-US-logo 280Retailing giant Wal-Mart Stores Inc. intends to open a Walmart Neighborhood Market store in Boulder this fall, the Daily Camera reports.

Speculation has been rampant for months about Wal-Mart’s plans for Boulder. The company, which was previously denied the chance to open one of its Supercenters in town, now intends to open a smaller Neighborhood Market at Diagonal Plaza.

Diagonal Plaza is off 28th Street and Iris Avenue in north Boulder. The store proposed for the site is about 52,000 square feet, which amounts to a quarter the size of a Supercenter.

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Re-posted by: Crosbie Real Estate Group

Denver Post | Sprouts Farmers Market’s new Longmont store open today

AR-121229974.jpg&MaxH=200&MaxW=295Sprouts’ new 29,000-square-foot store is located in the former Borders Bookstore space at 1101 S. Hover St., which has been empty since the bookstore closed in fall of 2011. Sprouts will be open daily from 7 a.m. to 10 p.m. and the company’s president and CEO, Doug Sanders, said its opening has been a long time coming.

“We’ve been working on getting to Longmont for several years,” said Sanders, who is expected to be present for the opening. “We were working on Longmont and Sunflower was working on Longmont, and we both kind of coveted that Longmont space.”

It was actually Boulder-based Sunflower Farmers Market that announced, in April, plans for a Longmont store. But that announcement was merely a formality. At the time Sunflower was in the process of merging with Phoenix-based Sprouts, and it was already known that after the two companies merged, all Sunflowers stores would become Sprouts. That merger was finalized in May.

The combined company gives Sprouts about 150 stores in eight states, about 11,000 employees and about $2 billion in revenue in 2012.

CNN Money | Best Buy to close 50 U.S. stores, stock drops

NEW YORK (CNNMoney) — Best Buy’s stock took a dive on Thursday after the retailer reported quarterly results that included plans to close 50 big- box stores in the U.S. by 2013.

The company said it plans to open the same number of stores in China during the same time period.

Best Buy’s (BBY, Fortune 500) stock price dropped 8% as the company’s better-than-expected earnings report failed to trump the news about shuttering brick-and-mortar locations.

The retailer reported an adjusted quarterly profit of $2.47 a share. That was significantly higher than the projected $2.16 a share, from a survey of analysts by Thomson Reuters.

Best Buy currently has 1,105 big-box stores in the U.S., not counting the pending closures, according to company spokeswoman Kelly Groehler. In China, there are 185 stores under the company’s Five Star brand, she said.

The company plans to open 100 “mobile small format stand-alone stores” in the U.S. in fiscal year 2013. It also said 14 of the new stores in China will be “mobile store-within-a-store concepts.”

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Re-posted by: Crosbie Real Estate Group