JCPenney Co.

J.C. Penney has a lot riding on its new home department makeover. Industry analysts say the revamp, a central element of former CEO Ron Johnson’s plan to transform the chain, is critical to the department store’s future. Home represented 12% of Penney’s sales in 2012, down from 15% in 2011. It was the worst performing category last year.

Leominster, Mass. -- Vintage Real Estate has purchased The Mall at Whitney Field, a 700,000-sq.-ft. regional shopping center in Leominster, Mass., about 35 miles west of Boston. Anchors include Macy’s, Sears, J.C. Penney, Market Basket, Toys “R” Us and Old Navy.

Concurrent with the acquisition, Burlington Coat Factor signed a 10-year lease for a 66,000-sq.-ft. space formerly occupied by Circuit City.

Plano, Texas -- J.C. Penney Co. on Thursday took the wraps off its highly anticipated new home department. More than 500 stores received a complete home department revamp, with updated flooring, accent lighting, custom fixturing and a widened pathway.

The new department is made up of a collection of in-store shops for popular designers, including Michael Graves Design, MarthaHome, Happy Chic by Jonathan Adler, and Design by Conran. Each shop-has its own distinct look with a size range of about 300 to about 800 sq. ft.

Vineland, N.J. -- Ulta Beauty will open a new superstore  this fall at Cumberland Mall in Vineland, N.J. The 10,500-sq.-ft. store will feature a full-service salon as part of its offerings.

Cumberland Mall is anchored by Boscov’s, Marshalls, J.C. Penney, Burlington Coat Factory, Michaels, Old Navy and Bed Bath & Beyond.

 

Fort Worth, Texas -- Dick’s Sporting Goods is now open at Alliance Town Center in North Fort Worth, Texas. During the May 31 through June 2 grand opening ceremonies for the 50,000-sq.-ft. Phase II anchor, co-developer Trademark Property Co., announced plans to add 237,000-sq.-ft. of retail and restaurant space to the center.

“With Dick’s opening, we are well positioned to complete the current phase and proceed with our main-street lifestyle expansion,” said Trademark CEO Terry Montesi.

New York -- J.C. Penney on Tuesday turned to social media to deny that a tea kettle being advertised on a billboard on the 405 Interstate near Culver City, Calif., is intended to represent Adolf Hitler.

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Plano, Texas -- J.C. Penney Co. reported a deeper-than-expected loss of $348 million for its first quarter, compared to $163 million in the year-ago period, amid a 16.4% decline in revenue. The results came as the company seeks to undo the damage caused by former CEO Ron Johnson’s costly and largely failed makeover.