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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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JCPenney switching gears to growth mode
JCPenney Company cited strong financial results in the first quarter as the impetus for going on the offensive to gain back share and becoming the “preferred shopping choice for Middle America.”
JCPenney reported net sales of $2.86 billion compared to $2.80 billion in the first quarter of 2014. Same store sales increased 3.4% for the period.
The company has made inroads in recent quarters on its turnaround, and the company may finally be making progress on reconnecting with its core customers.

