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Retail

  • Glimcher Realty Trust to be acquired in $4.3 billion deal

    Columbus, Ohio -- Washington Prime Group announced Tuesday it will acquire shopping center REIT Glimcher Realty Trust in a deal worth $4.3 billion.

    Washington Prime Group, a Bethesda, Maryland-based REIT, and Glimcher will combine under a new name WP Glimcher, with headquarters remaining in the current Glimcher offices in Columbus, Ohio.

    The newly combined company will remain publicly traded.

  • Redevelopment begins at Stratford Square Mall

    Northbrook, lll. -- StreetMac LLC and an affiliate of Five Mile Capital Partners LLC announced redevelopment plans for the 1.3 million-sq.-ft. Stratford Square Mall, located in Bloomingdale, Illinois. The center’s anchor tenants include Macy’s, Carson Pirie Scott, Sears, Kohl’s, Burlington Coat Factory and the 16- screen Century Theatre movie complex.

  • TargetExpress to open in San Diego

    Minneapolis -- Target plans to open its sixth TargetExpress store, in the South Park area of San Diego, in July 2015.

    At approximately 19,000 sq. ft., the store will be about 14% of the size of a standard Target store (135,000 sq, ft.). Similar to other TargetExpress locations, it will offer an edited assortment that is locally relevant.

  • Midwest retailer Niemann Foods selects Revionics for price optimization

    Austin, Texas -- Revionics announced that Niemann Foods, a chain of grocery, pet food, hardware, pharmacies and gas stations in the Midwest, has selected Revionics as its price optimization provider.

    Revionics will be providing Niemann Foods with their SaaS-based price optimization solution, which includes robust price management, science-based optimization, forecasting, simulation and effectiveness measurement.

  • Brookstone CEO resigns after taking chain through bankruptcy

    New York -- Brookstone said its president and CEO, James M. Speltz, has resigned. The specialty retailer appointed Steve Schwartz, the company's chief merchandising officer, to serve as interim president and CEO.

    Speltz helped Brookstone emerge from Chapter 11 bankruptcy protection in June. Also in June,  a bankruptcy court judge approved its sale to to a consortium of Chinese investors, Sailing Innovation Inc., for $135.7 million.

  • Shopko stores to debut revamped open-sell jewelry departments and expanded women’s apparel

    Green Bay, Wis. -- Shopko will unveil the results of a partial store remodeling project in all of its 133 Shopko stores on Sept. 18.

    The remodel includes the removal of the stores' large glass jewelry cabinets to make shopping in the jewelry department more convenient and accessible to consumers. Customers will no longer have to wait for a store associate to unlock and remove jewelry items, but will be able to easily see, touch and try on jewelry pieces.

  • Sears expands In-Vehicle Pickup service to include returns, exchanges

    Hoffman Estates, Ill. -- Sears has added returns and exchanges to its In-Vehicle Pickup service. The new integrated retail service, powered by the chain’s Shop Your Way loyalty program mobile app, lets members pick up, return or exchange their purchases for free – guaranteed in five minutes or less – without ever leaving their vehicle.

  • Build-A-Bear Workshop CFO and COO Tina Klocke stepping down; names new CFO

    St. Louis -- Build-A-Bear Workshop announced the appointment of Voin Todorovic as the company’s new CFO, effective Sept. 15. He assumes CFO responsibilities at Build-A-Bear Workshop from Tina Klocke, who had been serving as both the company’s CFO and COO. Klocke is leaving to pursue her interests in the not-for-profit business sector. She will remain with the retailer through first quarter 2015 and will retain her position as COO during this time.

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