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J.C. Penney reports "pleasing" performance
J.C. Penney provided an ambiguous update on its holiday season performance, indicating it showed continued progress in its turnaround efforts and was “pleased” with its performance.
The company released a brief and vague statement Wednesday morning in which it noted, “customers responded well to the company’s offerings this holiday season, both in stores and online.”
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Retail availability rate down 70 bps for 2013
Los Angeles — The retail availability rate fell 70 basis points in 2013, reaching 12% and reflecting continued net absorption gains, according to a report from CBRE. The rate fell 30 basis points in the fourth quarter, which matches the momentum of the first half of 2013 after a flat third quarter.