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Strategy

  • RioCan and Tanger to acquire two outlet malls in Montreal

    Greensboro, N.C. -- RioCan Real Estate Investment Trust and Tanger Factory Outlet Centers announced Tuesday they will acquire two outlet centers in the Montreal area.

    The pair will co-purchase Les Factoreries St. Sauveur and Bromont Outlet Mall for about $94.7 million Canadian dollars.

    RioCan will provide development and property management services and Tanger will provide leasing and marketing services.  The properties will be rebranded as Tanger Outlets.

    Both transactions are slated to close in November 2012.

  • Claire's to make retail debuts in Venezuela and Panama

    Chicago -- Claire's Stores Inc. said Tuesday that it has opened its first stores in Venezuela and Panama; the Venezuelan store opened on Oct. 12 in Sambil Paraguna Mall in Punto Fijo and the Panama store opened Oct. 27 at Metro Mall.

    Claire's has partnered with locally headquartered Grupo David Enterprises as the single franchisee across 16 countries in Latin America. Over time, Claire's said it expects these countries to present a minimum 100 stores market opportunity.

     

  • Apple retail head steps down after 6 months

    New York -- In a surprise announcement on Tuesday, Apple Inc. said its retail senior VP John Browett abruptly left the company on Monday. Another senior-ranking staffer iOS software senior VP Scott Forstall, will exit next year.

  • Walgreens launches recovery efforts, 500+ stores still closed

    Deerfield, Ill. -- Walgreens said Tuesday that it is beginning its recovery efforts in the wake of Hurricane Sandy. The retailer said that it is working to provide its stores with what they need to again serve customers in areas impacted by the storm.

    By noon ET on Tuesday, the number of Walgreens stores closed dropped to 530 with more re-opening by the hour, from a peak of about 750 stores closed during the height of the storm.

  • LaVida Massage to open 13 centers before year’s end

    Commerce, Mich. -- Health and wellness retailer LaVida Massage said Tuesday it will have opened at least 13 new franchised units before the end of 2012. Another eight are slated to open in early 2013.

    LaVida currently operates 45 centers nationwide. 

    Our rapid expansion continues to yield strong results for LaVida, despite a struggling economy,” said Evan Kaltschmidt, COO.

    The new centers are located in California, Georgia, Illinois (2), Michigan (3), New Jersey, New York, Ohio, Pennsylvania, Texas and Virginia.

  • Wal-Mart: No significant damage from Sandy

    Bentonville, Ark. -- Wal-Mart Stores Inc. released a statement on Tuesday that none of its facilities have sustained any significant damage from Hurricane Sandy.

    Some 168 stores remain closed, said the retailer, but some will be reopening with the use of generators.

    The company also said that the superstorm has not had an impact on holiday planning at this point.

  • Retailers hit hard by superstorm, economy expected to rebound

    New York -- While it may be days, even weeks, before the full extent of the damage caused by Hurricane Sandy is known, economists are forecasting that retail sales will be impacted in October and November but that the economy overall will experience an uptick.

  • Walgreens and Alliance Boots form JV

    Deerfield, Ill. -- Walgreens said Tuesday it has formally set up a new company, jointly owned with Alliance Boots, as part of the strategic partnership’s synergy program.

    The new company, called Walgreens Boots Alliance Development GmbH, is based in Bern, Switzerland.

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