by David Bodamer May 29th, 2008
Centro is closing in on a $1.2 billion sale, according to published reports.
Centro Properties Group is close to selling A$1.2 billion ($1.16 billion) of U.S. shopping malls, as the company prepares to sign an accord with creditors, the Australian Financial Review reported, without saying where it obtained the information.
Centro, based in Melbourne, is in talks with a single party to sell 95 percent of the Centro America Fund, which holds shopping centers Centro acquired in 2006 when it bought Heritage Property Investment Trust, the Review said.
Centro could clear A$300 million from the sale, which is being managed by Lazard Ltd., the newspaper said. The company also may sell some of the assets held by the Centro Australia Wholesale Fund, which are being marketed by Jones Lang LaSalle Inc., the Review reported. Jim Kelly, a spokesman for Centro, didn’t immediately return a call from Bloomberg seeking comment.
Previous Centro posts:
- May 14, 2008, Centro’s Shield
- May 9, 2008, Centro Reaches Debt Agreement, Shares Surge
- April 3, 2008, Centro Takeover Rumors Cause Share Surge
- April 1, 2008, Centro Clears a Hurdle
- Feb. 29, 2008, Report: Blackstone, GE, Mulpha, Mirvac Bidding for Centro.
- Feb. 28, 2008, Centro Shares Surge
- Feb. 15, 2008, Centro Wins Extension
- Jan. 15, 2008, Scott Out, Rufrano In at Centro
- Jan. 10, 2008, Daily Centro Update
- Jan. 9, 2008, UBS Cuts Stake in Centro
- Jan. 3, 2008, Centro: Morgan Stanley, Westfield Have Approached Firm
- Jan. 2, 2008, Centro Says Its Getting Offers
- Dec. 18, 2007, Another Round of Centro Coverage
- Dec. 17, 2007, Centro Hit by Credit Crunch
- May, 10, 2007, Centro’s Structure
- Feb. 28, 2007, Centro To Buy New Plan
Related Topics: Finance, International, Investment, News, REITs, Retail Real Estate |
by David Bodamer May 29th, 2008
Blockbuster will bring new in-store kiosks into some of its stores that enable lightning-quick downloads of movies. This is an example of the kind of strategies retailers are looking into to take advantage of space they may already control but no longer need as straight selling space. For Blockbuster, this also represents another attempt at trying to retain market share in the highly competitive home video market now that it’s facing increased competition from mail DVD services and video on demand.
The sleek prototype kiosk unveiled Wednesday is just one way that Blockbuster is looking to deliver movies digitally. The design, which Keyes said is likely to change with testing, offers a range of features to help customers make movie choices, including previews and recommendations. Keyes said the company is working to reduce the download time for movies to about 30 seconds.
The company is also working on allowing customers to download movies through set-top boxes or Internet Protocol television, or IPTV.
The kiosk prototype, which will begin testing within the next three weeks, was developed by NCR Corp. For the pilot launch, the kiosks will be compatible with an Archos portable device, but the company ultimately plans for the kiosk to be an “open system” and widely compatible with a range of devices.
The CEO noted that Blockbuster plans to rely on third-party partners to minimize the company’s investment in these initiatives.
Related Topics: News, Retail, Trends |
by David Bodamer May 29th, 2008
This matches what we’ve been hearing a lot lately. Grocery stores, discounters and warehouse clubs are cleaning up in the current economic environment as consumers continue to be extremely price-conscious.
Costco Wholesale Corp. reported a 32 per cent jump in third-quarter profits Thursday to top Wall Street expectations, as cash-squeezed customers flocked to its warehouse clubs in search of bargains on food and toiletries.
Costco reported net income rose to $295.1-million (U.S.), or 67 cents per share, from $224-million, or 49 cents per share, a year ago, which included a $30.3-million charge.
Sales increased 13 per cent to $16.26-billion from $14.34-billion in a year-ago period hurt by a $228.2-million boost in sales returns reserves. Including membership fees, revenue rose to $16.61-billion from $14.66-billion.
Analysts surveyed by Thomson Financial had expected profit of 65 cents per share on revenue of $16.35-billion.
Link.
Related Topics: News, Retail, Trends |
