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ICSC – Black Friday will be big day for stores
New York - Forty-one percent of consumers plan to head to the stores on Black Friday,18% plan to shop in a physical store on Thanksgiving, and 32% of consumers will hit the stores on the following Saturday and/or Sunday, according to new data from the International Council of Shopping Centers. More than one-third (36%) of consumers plan to go to a physical store on Cyber Monday.
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Saks’ NYC flagship valued at $3.7 billion—more than Hudson’s paid for entire company
New York - It appears that Hudson’s Bay Co. got itself quite a deal when it purchased Saks Fifth Avenue in 2013 for the sum of $2.9 billion, including debt. Saks’s signature Fifth Avenue flagship has recently been appraised at an whopping $3.65 billion—significantly more than Hudson’s Bay paid for the entire chain. As much as anything, however, the appraisal reflects the strength of Manhattan’s retail real estate market.

