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What’s Happening at the Mall?
By Glenn Brill, [email protected]
The recent announcement that Ron Johnson of Apple will become J. C. Penny’s new chief executive is a clear indication of the need for many retailers to revitalize the shopping experience. It is also a clarion call and symbolic of the challenge to mall owners, developers, and investors to create and/or revitalize shopping environments that can effectively complement and promote a retailer’s brand.
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Rite Aid: Remodel 500 stores by fiscal year end
Camp Hill, Pa. -- On the heels of its report that it narrowed its loss in the fiscal first quarter to $65.5 million, Rite Aid Corp. said it plans to remodel 500 stores by the end of its fiscal year. It will also close 50 more locations, which would give it a total of about 4,650 stores.