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New Orleans opens the first downtown outlet center
For a couple years now, outlet centers have been moving from the outskirts of cities closer and closer to downtown. Howard Hughes Corp.’s Outlet Collection at Riverwalk is the first to make it all the way downtown — into the center of the newly rebuilt New Orleans.
Slated to open on Memorial Day weekend, the former 200,000-sq.-ft. Riverwalk Marketplace has expanded into a 250,000-sq.-ft. outlet center following a $70 million redevelopment.
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Sears looks to sell itself in Canada
Sears Holdings plans to hire an investment banking firm to explore strategic alternatives regarding its 51% ownership stake in Sears Canada.
The strategic alternatives are said to include the potential sale of Sears Holdings’ interest or Sears Canada as a whole, according to a statement by the Hoffman Estates, Ill.-based company. In a separate statement, Sears Canada said its board of directors intended to cooperate fully with Sears Holdings in the strategic alternatives exploration process to achieve full value for all shareholders.
