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ICSC: Shopping-center sales will rise 2.2% in 2011
New York City -- Shopping-center sales in November and December are expected to increase 2.2% relative to the same period a year ago, according to the International Council of Shopping Centers. In 2010, the holiday season posted a 5% gain following two back-to-back declines during the 2007-09 recession.
The organization has forecast that U.S. holiday sales in 2011 will post a moderate 3% gain, down from 2.1% last year.
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Target Timberwolves stadium deal a slam dunk
MINNEAPOLIS — Target announced that it will retain the naming rights for the Target Center, which is home to the Minnesota Timberwolves, through a three-year extended agreement with AEG Facilities, which manages the stadium, and the Timberwolves. Under the new agreement, Target will have naming rights for the stadium through 2014.