Real Estate

MINNEAPOLIS — Another 90 Target stores are slated to receive fresh food in June as part of a major remodeling initiative that has become known simply as PFresh.

Toronto -- Sears Canada Inc. said Tuesday it has agreed sell its Cantrex Group operations to Nationwide Marketing Group.

Sears Canada will maintain ownership of appliance brand Corbeil Electrique.

Cantrex was purchased by Sears Canada in 2005 in order to further develop its merchandising, buying, and logistics services in the furniture and appliance sectors. Corbeil became part of the Sears portfolio through this purchase and recently Sears has announced its plans to expand Corbeil's operations to the Greater Toronto Area this year.

New York -- Canada’s Jean Coutu Group has sold 56 million of its approximately 234.4 million shares in Rite Aid, the company said Friday.

The Canadian retailing group said the $83.6 million sale, which amounts to a 23.9%% reduction in the number of Rite Aid shares the company owns, would reduce its stake in Camp Hill, Pa.-based Rite Aid to 19.85%. The Jean Coutu group still owns about 178.4 million shares in the 4,667-store chain.

Davenport, Iowa -- Von Maur Inc. will expand its women's specialty store concept, Dry Goods, with the opening of a 4,500-sq.-ft. location this fall at Orland Square Mall in Orland Park, Ill. The store will be the specialty store chain's third location in the Greater Chicagoland area and the seventh Dry Goods store overall.

The new Dry Goods will feature leading brands such as Free People, Hudson, Jessica Simpson, Joe's Jeans and Silver, among others. The store's decor will reflect the chain's vintage, turn-of-the-century aesthetic.

Canton, Mass. -- Dunkin' Donuts announced the signing of a multi-unit store development agreement with three franchise groups to develop 25 new restaurants in Texas over the next several years. The locations include 16 units in Houston and nine in San Antonio.

Dunkin' Donuts' development throughout Texas is part of the company's goal to double the number of Dunkin' restaurants in the United States over the next 20 years.

New York -- Hennes & Mauritz AB (H&M) will enter Latin America this fall, opening a flagship in Centro Santa Fé, Mexico City.

“We look very much forward to opening the first H&M flagship store in Mexico. It will be the perfect first step for H&M into this fashion conscious region,” said Karl-Johan Persson, CEO, H&M.
 

LONGUEUIL, Quebec — The Jean Coutu Group has sold 56 million of its approximately 234.4 million shares in Rite Aid, the company said Friday.

The Canadian retailing group said the $83.6 million, $1.51-per-share sale, which amounts to a nearly 24% reduction in the number of Rite Aid shares the company owns, would reduce its stake in Camp Hill, Pa.-based Rite Aid to 19.85%. The Jean Coutu group still owns about 178.4 million shares in the 4,667-store chain.

Burlington, N.J. -- Burlington Coat Factory will open a flagship in Manhattan this fall. It will be the off-price retailer’s sixth location in New York City. The 92,000-sq.-ft., three-level store will be in a building managed by Vornado Real Estate, on the south end of Union Square.

The Union Square flagship is part of a broader plan by Burlington to open more than 20 new stores in 2012.