Emeryville retail center is bought
The Public Market Emeryville, a prominent retail and office complex, has been bought by a group of realty investors, an indication that the Bay Area's retail sector is doing well.
The 270,000-square-foot Emeryville complex, located on Shellmound Street near the Interstate 80 and Powell Street interchange, was bought by San Francisco-based City Center Realty Partners and New York City-based Angelo Gordon.
The purchase came after an extensive renovation engineered by San Francisco-based TMG Partners and Rockwood Capital, the group that sold the retail and office complex.
One of the biggest challenges the center faced was the abrupt exit of one of its prime retailers, Borders Books. The bookstore imploded in the recession and vacated numerous store sites, including Emeryville. TMG filled the vacancy with Urban Outfitters and Guitar Center.
Williams-Sonoma's profit and sales rise
San Francisco-based retailer Williams-Sonoma reported rising sales and profit for its third quarter that ended Oct. 28.
For the August-October period Williams-Sonoma earned $49.8 million on sales of $944.6 million.
Compared with the year-ago quarter, profit rose 5.2 percent and revenue increased 8.9 percent.
Some Williams-Sonoma brands enjoyed double-digit increases in revenue. Pottery Barn, Pottery Barn Kids and a new brand,
The retailer's namesake Williams Sonoma brand managed a 1.2 percent gain in same-store sales.
LeapFrog and Lions Gate in movie pact
Emeryville-based LeapFrog Enterprises has struck a deal with movie studio Lions Gate Entertainment to develop, produce and distribute four new animated DVD and digital movies.
The movies will feature updated characters, new adventures and a new subject learning syllabus. They are due to be released in early 2014.
LeapFrog teamed up with Lions Gate in 2008, and the partnership has released 12 animated DVDs. The films feature LeapFrog characters such as Scout & Friends, Leap, Lily and Tad.
Diamond Foods erases $56 million in profit
San Francisco-based Diamond Foods reported restated financial results for its 2010 and 2011 fiscal years, a disclosure that erased $56.5 million in profit.
The maker of Emerald snack nuts, Kettle Chips and Pop Secret popcorn also reported a net loss of $2.46 a share for the first three quarters of fiscal 2012, versus a profit of $1.05 a share in the prior-year restated period.
The company's shares fell 18 percent in after-hours trading.