CLEVELAND-During the company's first quarter, retail leads all property types at Forest City with a 7% jump year-over-year in net operating income. However, Forest City's rental-residential occupancies made the greatest leap, from 93% to 94.8%.
COLUMBUS, OH-The company is opening less than the 15 stores previously planned for the year until same-store sales improve. The chain has been hurt by rising gas prices, slowing growth in the Midwest and an aging customer base.