Content about Birmingham

Huntsville, Ala. -- Birmingham, Ala.-based Bayer Properties said it has been engaged by Institutional Mall Investors to oversee management of Bridge Street Town Centre, a mixed-use outdoor fashion center in Huntsville, Ala. IMI’s assets now represent 2 million sq. ft. of Bayer’s 12 million-sq.-ft. owned and managed portfolio.

Seattle -- Nordstrom said it plans to open a Nordstrom Rack in Birmingham, Ala. This will be the retailer's first location in the state.

The approximately 35,000-sq. ft. store is scheduled to open in spring 2013 at River Ridge Shopping Center. The center is owned and operated by DDR Corp.

Birmingham, Ala. -- Books-A-Million said its largest shareholder group, the Anderson family, has withdrawn its non-binding offer to take the company private.

The Anderson family, which owns a 53% stake in the chain, had offered $3.05 per share in cash to take the company private in April.

“After discussing the proposal with the special committee of the company’s board of directors and its advisers, the Anderson family has decided not to pursue the proposed acquisition at this time,” the company said in a statement.

Birmingham, Ala. -- Hibbett Sports announced plans to build a wholesaling and logistics facility in Alabaster, Ala.

Construction on the new 360,000-sq.-ft. center is expected to commence in fall 2012 with the facility expected to be fully operational by fall 2014. When completed, it will replace the existing 180,000-sq.-ft. facility that the company currently leases in Birmingham.
 

Birmingham, Ala. -- Hibbett Sports announced that Scott J. Bowman has joined the company as senior VP and CFO effective July 9. He will replace Gary Smith, whose retirement is effective July 8, 2012.

Bowman was most recently division chief financial officer – Northern Division for The Home Depot, a position he has held since 2006.
 

Despite the challenges in its category, Birmingham, Ala.-based book retailer Books-A-Million has embarked on an aggressive growth plan that added 41 new units to its store count in October and November 2011. The expansion, which put the 250-store retailer squarely in the No. 2 bookseller slot after Borders’ liquidation earlier in the year, has been accompanied by a newly honed focus on improving its loss-prevention program system-wide.

Birmingham, Mich. -- Sachse Construction has been awarded two Nike store projects, in Louisville, Ky., and Des Moines, Iowa. Both projects expect to receive Leadership in Energy and Environmental Design (LEED) Gold certification.

The Nike Factory Store in Louisville is a 14,971-sq.-ft. remodel. The project took roughly 16 weeks to complete and was finished in mid-October.

The Des Moines Nike store is a 14,000-sq-ft. remodel. The project will take about 14 weeks and will be finished near the end of November.

Birmingham, Ala. -- Books-A-Million said Thursday it has appointed Tyler Novak as general counsel.

Novak will be responsible for overseeing all the company's legal affairs, including general corporate legal matters, intellectual property and corporate compliance, and will report to Clyde B. Anderson, chairman and CEO.
 

Gaylord, Mich. -- Birmingham, Mich.-based commercial real estate development firm Robert B. Aikens & Associates LLC announced Wednesday that it has acquired the Pine Ridge Square center, located in Gaylord, Mich.

At 189,000 sq. ft., Pine Ridge Square is home to Big Lots, Dunham’s, Bath & Body Works, GNC and Payless Shoe Source. The center currently has 30,000 sq. ft. available for lease.
 

Birmingham, Ala. -- Books-A-Million confirmed it has submitted a bid to purchase, among other things, the inventory, fixtures, equipment, and leasehold interests for 30 Borders locations. Under the proposed bid, Books-A-Million will assume the leases for these locations and continue to operate these stores. The move comes as Borders Group, after winning court approval, begins to liquidate its business.

Birmingham, Ala. -- Hibbett Sports Inc. reported Friday that net income for the quarter ended April 30 rose 23% to $21.3 million, compared with $17.3 million in the year-ago period.

Revenue increased 10.4% to $203.7 million, beating analysts’ projected $200.8 million in revenue. 

During the quarter, Hibbett opened eight new stores, expanded four others and closed seven underperforming stores. During the rest of the fiscal year, Hibbett said it expects to open between 50 and 55 new stores, close 10 to 15 stores and expand another 15 stores.

Birmingham, Ala. — Hibbett Sports said Friday that its fiscal fourth-quarter net income climbed 6% on higher sales. The sporting goods retailer also predicts its fiscal 2012 earnings will be in line with Wall Street's view.

Hibbett Sports reported net income of $12.5 million for the period ended Jan. 29, up from $11.8 million a year earlier, better than Wall Street expected.

Revenue rose 4% to $173.2 million from $166.8 million, but fell short of Wall Street's estimate of $174.2 million. Same-store sales rose 1.2%.