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Report: Chicago-area shopping center development shows uptick
Oakbrook Terrace, Ill. -- A Friday report by Mid-America Real Estate Corp. found that 2012 shopping center construction in the Chicagoland area grew 10% year-over-year, after a four-year decline.
According to the 2012-2013 Chicagoland Shopping Center Report, square footage increased from 1.02 million sq. ft. of space in 2011 to 1.14 million sq. ft. – a difference of about 113,000 sq. ft.
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NY Post: J.C. Penney’s Johnson pushes vendors to inflate pricing
New York -- In a Thursday report by the New York Post citing unnamed sources, the publication said that J.C. Penney CEO Ron Johnson is pushing some of its vendors to inflate their pricing so that the department store’s retail pricing appears lower than it actually is.
Sources told The Post that the plan includes putting up signs and fixturing to display fabricated retail pricing, while the merchandise is then tagged with J.C. Penney’s own lower prices.