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Simon to invest $1 billion in upgrade/expansion of key centers
Indianapolis – Simon plans to expand several marquee properties in the U.S., investing approximately $1 billion annually to enhance its assets. The Mills at Jersey Gardens in Elizabeth, New Jersey, will submit plans for a major expansion, adding approximately 411,000-sq.-ft. of new outlet brands, dining and entertainment to its footprint of more than 200 stores and 1.3 million-sq.-ft.
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J.C. Penney cuts Q1 loss; goes on offensive to ‘gain back market share’
Plano, Texas -- J.C. Penney Co. topped analysts estimates for the first quarter, reporting a smaller-than-expected loss. Declaring its intent to become the “preferred shopping choice for middle America” and gain back market share, the company also raised its outlook for the year.
Penney posted a loss of $167 million in the quarter ended May 2, compared with a net loss of $352 million in the year-ago period.

