COSTAR's RETAIL NEWS ROUNDUP: May 27 to June 2, 2007

CoStar News has expanded its retail real estate coverage under the direction of Senior Editor Sasha Pardy to bring you a weekly feature covering the gamut of retail acquisitions and mergers, joint ventures, retailer expansion plans, new store openings, new concepts, store closings, new retail developments, sustainable retailing, significant personnel changes, and more.

This week in the Roundup, CoStar reports on the $110M retail property acquisition at Pine Tree Commercial, Sun Capital's investment in Edwin Watts and Sharper Image, updates on mergers and acquisitions at Outback Steakhouse, Whole Foods, A&P, Claire's, and Genesco, expansions at Houlihan's, Noble Roman's and The Walking Company, new concepts at Foot Locker, Urban Outfitters and Gymboree, new retail developments in CA, FL and MA, cutbacks at BJ's Wholesale, new personnel at Regency Centers, Macy's and Darden, sustainable efforts at ICSC, Tesco, Staples, and more.

Last week's International Council of Shopping Centers (ICSC) Convention was the organization's largest yet. To read two of last week's CoStar articles involving the convention, click here:

ICSC REPORT: Marcus & Millichap Weighs In On National Retail Trends

ICSC Names Six "Hot" Retailers for 2007

In addition to appearing every week in the national news and retail news section of our web site, you may also receive the Retail News Roundup via email by contacting the editor at spardy@CoStar.com Also, click here to subscribe to CoStar's dedicated Retail RSS Feed.

ACQUISITIONS / MERGERS / SALES

Pine Tree Commercial Spends $110M To Buy Pair of Centers
Northbrook, IL-based Pine Tree Commercial, under its Institutional Realty division, recently acquired two retail centers in the Northwest United States.

Via a joint venture with a state pension fund, Pine Tree purchased Hazel Dell Town Center from Los Angeles, CA-based Kimco Developers for $59.8-million. The 400,000-square-foot power center is anchored by Target (which was not included in the sale), Kohl's, Best Buy, Office Depot and Petco and is located at NE 99th Street and Hazel Dell Ave. in Vancouver, WA. According to CoStar Comps Professional ID# 1284862, the property was 100% leased at the time of sale.

In a partnership with Newport, CA-based Buchanan Street Partners, Pine Tree bought the 192,000-square-foot Shops at Walnut Creek for $50-million. The power center is anchored by Target, Office Max, PetsMart, and Golf Galaxy and is located at the northwest corner of US 36 and Church Ranch Blvd in Westminster, CO.

Scott Goldman of Pine Tree, Henderson Global Investors, and Dan Slattery of Kimco facilitated the Hazel Dell transaction. John Pantone and Scott Goldman of Pine Tree facilitated the Walnut Creek transaction.

Investcorp Sells 6 Texas Retail Centers for $60M
The U.S. Real Estate Group of Investcorp divested six Texas retail centers over the past three months for a total of $60 million. The six assets, totaling 2.8 million square feet, were purchased by different investors. The centers were part of Investcorp's 29-property Texas Retail Portfolio, which it acquired April 2006 through a joint venture with Equity One. It later bought out its investment partner in December 2006. Investcorp considered the assets it sold as non-core. It intends to hold the remaining properties and continue investing in the Texas retail sector. Brokerage companies involved in these sales were Cushman & Wakefield of Dallas, Grubb & Ellis of Houston, and CB Richard Ellis of Dallas. Global Realty & Management TX, Inc. is the leasing and managing agent for the 23 remaining properties in Investcorp's portfolio.

Sun Capital Partners Buys Edwin Watts Golf Shops Chain, Ups Stake in Sharper Image
Boca Raton, FL-based private equity firm Sun Capital Partners closed on the acquisition of Edwin Watts Golf Shops through an affiliate. Fort Walton Beach, FL-based Edwin Watts operates 66 retail golf stores in 10 states, primarily in Florida. Although terms of the transaction are undisclosed, Sun Capital is expected to fund the expanding golf equipment chain. According to CoStar Tenant, Edwin Watts stores average 8,500 square feet.

Sun Capital also significantly upped its stake in San Francisco-based Sharper Image. The company purchased 1.49 million shares of Sharper Image for $13.78 million, bringing its stake in the company to nearly 20%. The move by Sun Capital increased buzz that the 186-store Sharper Image is a buyout target. The company's sales have been falling since 2005 and its most recent first quarter financial report reported a decrease in sales of 37%.

Sun Capital's diverse portfolio includes several recognizable retail brands, such as Bruegger's, Fazoli's, Anchor Blue, ShopKo, Mervyn's, Lillian Vernon, Village Pantry, Anchor Blue and more.

GE Capital Funds Evening Star's Purchase of Upstate New York Restaurant Chain via $7.2M Sale-Leaseback
Shell company Evening Star, Inc. acquired Zebb's Deluxe Grill & Bar, a casual dining chain with five locations in Upstate NY, via a $7.2 million business enterprise loan funded by GE Capital Solutions Franchise Finance through the sale-leaseback of four of Zebb's five restaurants. In announcing the transaction, GE Capital Solutions vice president Paul Cantieri stated, "We worked with Evening Star to incorporate a sale-leaseback into the deal, allowing them to leverage the value of their real estate. We saw it as an opportunity to provide Evening Star with resources to acquire and grow the Zebb's brand, and we were able to meet their needs in one transaction."

Rochester, N.Y.-based Evening Star was formed in 2006 by Brian Bergeron and Kent Schmidt, a pair of existing Papa John's and Hardee's franchisee owners. The company was incorporated with the express purpose of purchasing the Zebb's concept and its locations in New Hartford, Mattydale, Amherst, Orchard Park, and Brighton, NY.

UPDATE: Outback Steakhouse's Private Equity Buyout Amended
Tampa, FL-based OSI Restaurant Partners, operator of hundreds of restaurants under brands Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill, Fleming's Prime Steakhouse & Wine Bar, Roy's, Lee Roy Selmon's, Blue Coral Seafood & Spirits and Cheeseburger in Paradise, announced an amendment to its merger agreement with Kangaroo Holdings. The agreement increases the payout to OSI stockholders to $41.15 per share, compared to the previous $40.00 per share agreement. The new price represents a 27% premium over OSI's closing price on the day of the original announcement, November 3, 2006. Kangaroo Holdings is the product of private equity firms Bain Capital of Boston and Catterton Management; which between them have several recognizable brands in their portfolios, including Domino's Pizza, Dunkin' Donuts, Burger King, Toys "R" Us, AMC Entertainment, Staples, Burlington Coat Factory, Build-A-Bear Workshop, Cheddar's, P.F. Chang's, Baja Fresh, First Watch, Frederic Fekkai, among others. The transaction is expected to close mid-summer.

UPDATE: Genesco and Skechers Private Equity Buyout Targets
One month following its rejection of Footlocker's $1.2 billion acquisition proposal, hat and shoe retailer Genesco is now rumored to be a takeover target of private equity firm Kohlberg Kravis & Roberts. Making it more interesting, speculation is that KKR plans to also acquire well-known shoe brand Sketchers, combining the two companies. Genesco's most recent announcement involved the closing of 57 of its underperforming stores, mainly in the Underground Station group.

UPDATE: Private Equity Buyout of Claire's Stores Completed
Pembroke Pines, FL-based Claire's Stores, the teen jewelry and accessories retail chain seen in almost every mall across America, today announced that New York-based Apollo Management's acquisition of the company has been completed. Apollo Management is a major private equity firm whose retail portfolio includes AMC Theatres, Linens-N-Things, and Jacuzzi Brands, among others. Claire's shareholders will receive $33.00 per share, which equates to a value of approximately $3.1 billion. Claire's operates 3,000 stores in the U.S. under the Claire's and Icing by Claire's brands.

In addition to appearing every week in the national news and retail news section of our web site, you may request to be one of the first to receive the Retail News Roundup via email by contacting the editor at spardy@CoStar.com Also, click here to subscribe to CoStar's dedicated Retail RSS Feed.


EXPANSIONS

Houlihan's Restaurants Stepping Up Metro Growth
Houlihan's, a private casual dining restaurant chain based in Leawood, KS, plans to boost its restaurant expansion efforts following a $68 million cash infusion from the Minneapolis-based Goldner Hawn Johnson & Morrison, a private equity firm, and Wells Fargo. Houlihan's has 12 restaurants expected to open by year-end giving the company 115 restaurants in operation. In addition, the company has 30 company-owned restaurants in various stages of development, including locations in San Antonio, Dallas, Charlotte and Denver. It also plans to expand through franchised area development agreements. The company has redesigned its former prototype, now hoping to achieve an upscale casual feel, with a more modern look and extensive bar. Houlihan's restaurants average 6,500 to 7,500 square feet and are typically located on an out parcel that can provide 120 parking spaces. The company's site criteria includes a trade area of 30,000 people within three miles with an average household income of at least $50,000, prefers upscale hotels within three miles and upscale shopping and entertainment within one mile. The company said it specifically is targeting Columbus, Dallas, San Antonio and Denver as desired growth markets.

RED Development and Schussler Creative Partner on 40 New "Restaurantainment" Sites
Minneapolis-based Schussler Creative Inc, creator of Rain Forest Cafe, T-Rex and other popular "restaurantainment" concepts, has partnered with RED Development, a Kansas City-based retail developer, with plans to invest $100 million to open 40 restaurants and some retail stores in the U.S. over the next six years. RED Development will assist in site selection while Schussler will be responsible for developing the restaurant concept appropriate for the site, some of which will involve several of RED's retail centers. Schussler's new concepts include America's Roadhouse, Winter Wonderland, Sorcerer's Kitchen, Aerobleu, Hot Dog Hall of Fame, Dynasty and Musical Gardens. The first results of this partnership are expected at the 800,000-square-foot Legends at Sparks Marina in Sparks, NV and the 866,000-square-foot Legends at Village West in Kansas City.

Big Dog Growing Walking Company Brand While Cutting Back Core Brand
Santa Barbara, CA-based Big Dog Holdings, operator of 144 Big Dog lifestyle apparel stores and 152 Walking Company high-end comfort shoe stores, reported first quarter results that included a 14% increase in net sales, 12.6% increase in comparable store sales for The Walking Company, and 5% decrease in comparable store sales for Big Dog. The company's positive results with Walking Company are substantially the product of store growth; 13 Walking Company stores were opened during first quarter, however, 22 Big Dog stores have been closed over the past year. As the company continues to close stores in the Big Dog brand, it will increase openings of the Walking Company brand, specifically expecting to grow to 500-stores strong in the future. According to CoStar Property Professional, Big Dog stores average 2,800 square feet and Walking Company stores average 1,500 square feet.

Levi's to Add 20 Stand-Alone Retail Stores this Year
San Francisco, CA-based Levi Strauss & Co. announced the company is rolling out a phase of stand-alone retail stores. There are currently 45 of these stores open in the U.S., and the company has opened 7 more this year and plans to open another 13 by year's end. The company's strategy in this is to dissipate its reliance on department stores to sell its products. In addition, it is building on its brand loyalty in the teen market, improving its product offerings in that category. The company selects affluent urban markets to place its stores, which average 3,500 to 4,000 square feet.

UPDATE: Gander Mountain Growing in the Great Outdoors
St. Paul, MN-based Gander Mountain Company, a leading retailer of outdoor lifestyle products and services with 106 stores in 22 states, announced nine new stores opening this Fall that will achieve the company's goal of opening 13 stores this year. Gander Mountain operates stores mainly in the eastern half of the U.S. , and has grown by leaps and bounds since 2003 and during fiscal 2006 opened eight stores. Store openings this year are in support of a strategy to diversify regionally and enter new markets. The company will open stores in September and October in Waukesha, WI; Jackson, TN; Rochester, MN; Jacksonville, FL; Lubbock, TX; Evansville, IN; Hattiesburg, MS; Richmond, VA; and Bowling Green, KY. The Hattiesburg store will mark Gander's first store in Mississippi. Although Gander's existing stores range from 30,000 to 107,000 square feet, Gander's new store format is 50,000 to 65,000 square feet. The company locates in rural and suburban markets to target the "outdoorsy" customer and prefers recycled locations. Stores are transformed with Gander's signature "log cabin" design.

UPDATE: Noble Romans / Tuscano's Italian to Add 489 Restaurants
Indianapolis-based Noble Roman's, operator and franchisor of Noble Roman's Pizza and Tuscano's Italian Style Subs restaurants, expects to add 489 restaurants over the next seven years. Area development franchise agreements recently signed include 60 units in Los Angeles County, CA opening through 2014; 49 units in 15 counties surrounding the Greensboro/Winston-Salem area; 60 units in the Cincinnati area; 25 units in Sacramento County, CA; 100 units in counties near Atlanta; 52 units near Dallas; 25 units near Springfield, MO; 35 units for Riverside County, CA; 38 units for San Bernardino County, CA; 30 units in the Dayton, OH area; and 15 units in Collin County, TX. With the signing of this new agreement, the thirteen Area Development Agreements in place thus far call for 489 units over the next five to seven years. According to CoStar Property Professional, the average Noble Roman's is 3,000 square feet and located in neighborhood shopping centers; many of these new restaurants will be opened in the dual-branded format, including Noble Roman's and Tuscano's.

UPDATE: JC Penney Adding 436,000-SF Logistics Center
In a late April Retail Roundup, CoStar informed readers of JC Penney's aggressive long-range growth plans to open 250 new stores over the next five years and renovate 300 stores by 2011. The latest development involves the announcement of a new logistics center in California to support this growth. JC Penney plans to take over the 436,000 square-foot building located at 700 D'Arcy Parkway in Crossroads Commerce Center in Lathrop, CA, currently known as the Longs Drug distribution center. According to CoStar Property Professional, this building is vacant and Blake Rasmussen of CB Richard Ellis' Stockton, CA office has been marketing it at a lease rate of $4.08-per-square-foot, triple-net. JC Penney plans to begin operating in the space by August of this year.

In addition to appearing every week in the national news and retail news section of our web site, you may request to be one of the first to receive the Retail News Roundup via email by contacting the editor at spardy@CoStar.com Also, click here to subscribe to CoStar's dedicated Retail RSS Feed.

NEW CONCEPTS

Urban Outfitters to Debut "Greenhouse" Brand
New York City-based Urban Outfitters announced a new concept to its family of brands, which includes Urban Oufitters, Anthropologie and Free People. The company's fourth brand will feature lifestyle home and garden offerings, including live plants and flowers as well as antiques. The company has designed the new concept to cater to an upper-income demographic and expects first stores to debut first quarter 2008. Among the company's other brands, Urban Outfitters expects to add 38 stores fiscal 2008 and has a full penetration goal of 250 stores; Anthropologie is planned to grow from 95 to 300 stores over the next several years and Free People is planned to grow from 8 to 250 stores over the next several years. Both Urban Outfitters and Anthropologie stores average 7,000 square feet and are typically located in regional malls.

Foot Locker and Nike Team Up on Basketball Retail Experience Stores
Nike and New York City-based Foot Locker jointly announced a new retail concept called "House of Hoops by Foot Locker" and announced plans to rollout 50 new stores by 2010. The House of Hoops stores are designed for hardcore basketball fans; selling exclusively basketball footwear, apparel, equipment and accessories. The flagship store will open in New York City at 268 W 125th Street, a conversion of a 5,000-square-foot Foot Locker store in Harlem, expected to open January 2008. The new retail concept will offer high-end merchandise and will locate primarily in urban core areas. Expect to see the 50 stores to open in such city centers as Las Vegas, Houston, Los Angeles and Chicago, as well as in upscale malls and lifestyle centers that don't meet the criteria for Foot Locker's typical customer. The two sports footwear giants plan to design the stores to boost the retail experience for the customer. CoStar ran a story in late April on the "Experience Store" trend, titled Retailers Experiment with 'Experience Stores' Paying Off.

UPDATE: Gymboree Reveals Identity of New Concept
In an April 6th article titled, CHILD'S PLAY: Parents Fuel Growth of Children's Retail Sector, CoStar informed readers of San Francisco-based Gymboree's plans to open 20 Gymboree stores, 45 Gymboree Outlet stores and 15 Janie and Jack stores in the coming year. In addition, the retailer had revealed it would debut a new concept in third or fourth quarter this year. The company did not release additional information at that point, except to say the concept is close to its core product line. Last week, the company revealed the new concept would be called "Crazy Eight." Crazy Eight stores will also sell Children's apparel, however, the price points will be much lower than Gymboree and Janie and Jack brands, competing more closely with the likes of Children's Place stores. Expect to see 10 test stores launched in four markets by year's end.


NEW SUPPLY

Taubman Centers Adding 300,000-SF to The Tradition of Port St. Lucie
At last week's ICSC Spring Convention in Las Vegas, Taubman Centers unveiled plans for Tradition Town Center, a 1.1-million-square-foot, open-air, mixed-use development to be constructed in West Port St. Lucie, FL.

The Tradition Town Center won't come to life for about four years, but at completion will include 1,200 residential units and a 250-room hotel, in addition to 300,000-square-feet of retail space.

The Taubman center is planned to be a major part of Core Communities' master-planned community, the 8,200-acre "Tradition." Both firms say that Port St. Lucie is one of the country's fastest-growing areas with an ever-increasing existence of high-income residents.

The Tradition is already home to a 135,000-square-foot, Publix-anchored neighborhood center that was completed last year. According to CoStar Property Professional, Tradition Square has only one small shop space available and the asking rental rate is $25-per-square-foot, triple-net.

The Landing at Tradition is a 600,000-square-foot power center with an impressive tenant lineup including Target, Babies R Us, Bed Bath & Beyond, L.A. Fitness, Michaels, Office Max, Old Navy, PetSmart, Pier 1 Imports, The Sports Authority and TJ Maxx. According to CoStar Property Professional, the center is 91.5% leased and is being marketed by Core Communities director of leasing, Amanda Mrozek, for $35.00-per-square-foot, triple-net.

Conroy Development Unveils Plans for $700M Renaissance Place
Conroy Development of Stanton, MA announced plans for a new mixed-use development in Naugatuck, CT. To be called Renaissance Place, the $700-million project is designed with several sustainable components, although the company is undecided on if it will go the LEED certification route. Located on a 60-acre brownfield site on the Naugatuck shore, Renaissance Place is planned to include 500,000-square-feet of retail, 1,500 multi-family units, two hotels, and a "green" technology center. The center is designed with historical-style architecture, several pedestrian walkways and public spaces, and street retail with office and residential spaces located above.

Vornado Realty Trust Breaks Ground on 620,780-Square-Foot Rego Park Phase II
Vornado Realty Trust has broken ground on the 620,780-square-foot Phase II of Rego Park Center in Queens. The $550-million project borders the Long Island Expressway and Queens Blvd. Upon its completion scheduled for Fall 2009, Rego Park II will be adjacent to the 343,000-square-foot Phase I, which includes Bed,Bath&Beyond, Circuit City, Old Navy, Sears and Marshall's. The project also includes residential units and several levels of parking. Home Depot will anchor phase II. To further boost the Rego Park area, Vorado has agreed to improve the subway station and is also building an area to hold local events.

Orlando's Posner Park Slated to Receive 127,000-SF Target and Many More
Kitson & Partners' 400-acre master-planned, 2,000-home community under construction in Orlando just West of Disney World, named Posner Park, will soon be home to an extensive list of national retailers. Target, JC Penney, Belk, Dick's Sporting Goods, Best Buy, Staples, Ross Dress For Less, Michaels, PetSmart and Books-A-Million are slated to open at a 500,000-square-foot power center at the southeast corner of I-4 and US Hwy 27 in Polk County. The retail center is the result of a partnership between Trammell Crow Co. and Boardwalk Land Development. The big box stores are slated to open next spring. At the completion of the $500M Posner Park, the community should have 1.5 million square-feet of retail space, 2,600 hotel rooms, 2,000 residential units and 150 acres of open land.

Burr Ridge Village Center Progresses in Illinois
A 20-acre lifestyle center is under construction in Burr Ridge, IL, known as Burr Ridge Village Center. Located at County Line Rd. and I-55 in Burr Ridge, the 200,000-square-foot retail center will neighbor 196 residential units and 37,000 square-feet of office-condo space. An Opus North development, Burr Ridge Village Center's tenant list includes Coldwater Creek, Eddie Bauer, Yankee Candle, Chico's, White House/Black Market, Starbucks, Banana Republic, Ann Taylor Loft, J. Jill, Lucy, Clarks, and more. The center is also planned to receive a luxurious Kohler Spa; the project is slated for completion this fall. Dan Pollard of The Pollard Group is responsible for leasing of the retail center.

Pacific Development Partners Contributes to Retail Growth in San Jacinto
Pacific Development Partners of Beverly Hills, CA and Stater Bros., a supermarket operator in southern CA, together announced the opening of a 44,000-square-foot Stater Bros. Market within an 100,000-square-foot neighborhood center in San Jacinto, CA. Located at the northeast corner of Ramona Expressway and State Street, The Village at San Jacinto shopping center also includes Walgreens, Carl's Jr., Del Taco, Starbucks, Subway, Juice it Up! and other neighborhood tenants, all expected to open by the end of the summer. The trade area of the center includes 4,600 homes under development and the site is adjacent to a College. A Wal-Mart Supercenter also recently opened in the San Jacinto area.

In addition to appearing every week in the national news and retail news section of our web site, you may request to be one of the first to receive the Retail News Roundup via email by contacting the editor at spardy@CoStar.com Also, click here to subscribe to CoStar's dedicated Retail RSS Feed.

CUTBACKS

BJ's Reduces Cap Ex, Resulting in Fewer Stores Opened Per Year
In light of an 11.4% drop in net income in its first quarter, Natick, MA-based BJ's Wholesale announced plans to reduce capital expenditures by 20% or more for the next two years. The cut back will result in a reduction of annual store openings. The company now plans on opening six to eight stores per year, as opposed to the 11 to 14 per year its been opening. BJ's CFO explained that the company no longer needs to build store for the sake of brand recognition; and the focus will turn to creating strong profitability at every store.

PERSONNEL

Hanley Investment Hires Six Personnel
Hanley Investment Group of Irvine, CA announced the hiring of six new personnel. The new hires include associate Bryan Land, formerly of Countrywide Financial; associate Cameron Rafati, formerly a retail sales associate for Internet Properties; junior associates Jay Nichols and Matt Hopkins will also play a role in client growth for Hanley; marketing coordinator Jaclyn Gostonian has been promoted and Ali Shimoff has been hired as office manager. Hanley says it is already on track to close 50 transactions this year; the company specializes in retail investment advisory and has completed approximately $1 billion in transactions.

Regency Centers Promotes Thompson and Delatour in light of Euart's Retirement and Chandler's Departure
Jacksonville, FL-based Regency Centers announced several significant changes to its management team. The company has promoted James Thompson, a member of the company since 1998 and formerly in charge of East operations, to managing director of East investments. Thompson is taking over for Mac Chandler and John Euart, who are leaving Regency shortly. John Delatour, a member of the company since 1996, will assume the position of managing director of national operations and leasing; Delatour was previously in charge of West operations.

Macy's Promotes SVP of Property Development to President
Cincinnati, OH-based Federated Department Stores announced the promotion of two key executives at the Macy's division. Mark Cosby, previously Federated's SVP of property development in charge of store design and construction, real estate and licensed operations, was promoted to president and COO of Macy's East. David Scheiner, previously vice chairman and director of stores for Macy's Florida, was promoted to president and COO of Macy's Florida.

Darden's Hire of SVP of Business Development Points to Acquisitions or New Concepts
Orlando's Darden Restaurants appointed JJ Buettgen to SVP of business development. Buettgen will play a key role in the company's growth "both through acquisition and organic growth of existing brands," Darden stated in the announcement press release. As CoStar reported earlier this month in the article titled Fire Goes Out at Darden's Smokey Bones Chain, Darden announced the divestiture of its 126-store Smokey Bones chain. Buettgen is the former president of Smokey Bones and has been associated with Darden since 1989, working for former parent company General Mills as well as at Darden's Olive Garden chain. This hire points to Darden's intentions to either acquire or create another large casual dining chain.

GREEN RETAILING

ICSC's Green Pavilion at the Annual Las Vegas Convention
This year's ICSC convention showed the industry's shift towards sustainability, as numerous developers were showcasing their "green" projects at the show. In addition, ICSC's first Green Pavilion was on display, which showcased green building technologies. The U.S. Green Building Council's LEED certification program is at the base of hundreds of green retail developments. To read more about the USGBC's LEED for Retail program, refer to CoStar's article from earlier this month titled, COSTAR GREEN REPORT: Retailers Playing Catch-Up in Green Building.

Staples Increases Recycling Efforts with Easy Computer Drop-Off Program
Office supply chain Staples announced a system that will allow customers to easily recycle computers and other office technology at any of its 1,366 U.S. stores. The company says it is the first national retailer to offer this service, which involves anyone dropping off a computer, laptop, printer, fax or all-in-one machine, computer peripherals, or monitor at a Staples store for a $10 fee. Staples then recycles the items in accordance with environmental laws, via a partnership with Amandi Services. Staples says that 48.5 million computers are thrown away in this country every year. Staples also has an in-store recycling program for ink and toner cartridges, cell phones, PDAs and rechargeable batteries which resulted in the recycling of more than 3,500 tons of electronic waste in 2006.

Tesco's Fresh & Easy Neighborhood Market Introducing Green Distribution Fleet
El Segundo, CA-based subsidiary of Tesco PLC, Fresh & Easy Neighborhood Market, continues its "green" impression with future U.S. customers via an announcement involving a fleet of distribution trucks. The company calls the fleet "green", as the trailers are aerodynamic and fuel-efficient. Features of the trailers will include hybrid-powered refrigeration units, automatic refrigeration and engine shut-off, electrical stand-by, substantial noise reduction, and roll-up doors.

In addition to appearing every week in the national news and retail news section of our web site, you may request to be one of the first to receive the Retail News Roundup via email by contacting the editor at spardy@CoStar.com Also, click here to subscribe to CoStar's dedicated Retail RSS Feed.