Finance & Capital Management

Chattanooga, Tenn. -- TIAA-CREF and CBL & Associates Properties have announced the closing of their $1.09 billion real estate joint venture to invest in market-dominant shopping malls.

TIAA-CREF has completed its investment in four of CBL’s market-dominant shopping malls: Oak Park Mall in Kansas City, Kan.; West County Center in St. Louis; CoolSprings Galleria in Nashville; and Pearland Town Center in Pearland, Texas.

New York City -- Bloomingdale’s 520,000-sq.-ft. Manhattan flagship is undergoing a 100,000-sq.-ft. renovation, Women’s Wear Daily reported, with bridge, contemporary, home, shoes, fine jewelry and parts of the designer floor included in the remodel.

The project is estimated to cost $50 million, according to Women’s Wear Daily.
 

Americans spent lots of money on apparel in September, and Target was among the beneficiaries, reporting that the category’s performance exceeded the total company same-store sales increase of 5.3%. Target didn’t elaborate on any key merchandising initiatives that may have influenced the results, such as the launch of the Missoni collection, but it was hardly alone in reporting strong apparel sales.

Satellite Beach, Fla. -- Lighting Science Group is performing an LED lighting upgrade for Villa, the Philadelphia-based urban-inspired apparel and footwear retailer. Villa estimates the lighting upgrade will pay for itself in one to two years, with energy and maintenance savings continuing to shave costs from its bottom line going forward.

Tampa, Fla. -- Regional grocer Winn-Dixie said it is working hard to change a tarnished image.

The chain, fresh out of bankruptcy, is in the throes of rolling out its previously announced remodeling, expansion and new development plan that involves an investment of about $100 million.

In Sarasota, Fla., a remodeled store will feature such upgraded features as a café with free Wi-Fi, an imported wine and craft beer section, a sushi bar, pizza bar and several stations where chefs prepare hot dinners for shoppers on the go.

ATLANTA — The Home Depot Thursday announced it has named Teresa Wynn Roseborough EVP, general counsel and corporate secretary. She will join the company's senior leadership team and report to Frank Blake, chairman and CEO.

Roseborough will be responsible for leading The Home Depot's legal department, as well as its government relations and corporate security services functions. She will assume her new role on Nov. 7.

Atlanta -- Haverty Furniture reported Thursday that total revenue for its third quarter slipped 1.1% to $155.4 million, compared with $157.1 million for the third quarter last year. Same-store sales fell 0.6%.

The chain remains optimistic about the fourth quarter.
 

Washington, D.C. -- The National Retail Federation said Friday that high unemployment rates remain a concern as retailers head into the holiday season.