Retail

J.C. Penney and Sears are turning up the heat on one another in the appliance category — and that translates into good news for consumers. Penney began rolling out expanded appliance departments to stores nationwide this past weekend, offering aggressive price cuts and other special deals, Fortune reported.

Adhering to its company motto of “Quality Shopping Malls in Compelling Markets,” PREIT reached an agreement to sell the Washington Crown Center in Washington, Pennsylvania. At the same time, it announced it had put the Beaver Valley Mall up for sale.   In a press release, PREIT noted it had embarked on a portfolio optimization program focusing not just on new properties, but on new types of tenants that could fuel growth.  

J.C. Penney and Sears are turning up the heat on one another in the appliance category — and that translates into good news for consumers.     Penney began rolling out expanded appliance departments to stores nationwide this past weekend, offering aggressive price cuts and other special deals, Fortune reported.   

The Tile Shop is on a roll.   The chain on Tuesday reported an 8.2% increase in same-store sales for the second quarter, along with a 20% reduction in new store buildout costs. The retailer also said it is launching an in-store and online tool that allows customers to personalize and visualize how an entire room or a distinct space will look upon completion of a project.  

Sonos, known for its “smart” sound systems, has made its bricks-and-mortar debut with an interactive store that celebrates music.     The store, in the SoHo section of Manhattan, is designed to allow visitors to listen to music — and experience Sonos products — the way they would at home. It also offers "Simple Set Up," a white-glove, in-home service that includes local delivery, set-up, and product introductions for in-store purchases.   

Versa Capital Management has formed a new holding company, called Eastern Outfitters, which will continue the restructured operations of Eastern Mountain Sports (EMS) and Bob’s Stores.  

Hello Kitty Cafe is pretty darn cute — and popular.    Located at the Irvine Spectrum Center in Irvine, California, the pop-up café opened on July 15, and draw such crowds that it had to temporarily close for a few hours. It’s housed within a pink shipping container that has been refurbished to feature a counter and dining patio area, complete with bistro tables and pink-and-white striped awnings. Bold character graphics adorn the exterior and interior container panels.  

Glen Valley Center’s taxable value had fallen to $776,221 since 2013, and the foreclosed, 35,775-sq.-ft. strip center in Caledonia, Michigan, had been the property of Wells Fargo Bank since 2007. So why did the bank walk away with $2.3 million for the center after a bidding war erupted among six buyers?   “We have a huge lack of product for investors to put their money in," explained Mark Ansara to mlive.com, which recently ran a report on the sale consummated at the end of June.