Department Store

Seattle -- Nordstrom Inc. said Tuesday that it has opened a second Cleveland Nordstrom Rack store – at the Promenade in Crocker Park, owned and managed by Stark Enterprises.

The 34,000-sq.-ft. store is slated to open fall 2013 in a former Border’s space at the lifestyle shopping center located in Westlake, Ohio, and tenanted by Bed Bath & Beyond, H&M, Trader Joe’s, Victoria’s Secret and The Cheesecake Factory.

COMMERCE, Calif. — Rodeo Drive is the place where Julia Roberts got the last laugh in "Pretty Woman" and the home to some of the most sought-after fashions in the world. But perhaps there is room on the iconic street for a more inclusive retail destination.

In that vain, 99 Cents Only Stores has issued a press release announcing its search for retail property on Rodeo Drive and is encouraging anyone with information on available retail space on Rodeo Drive is to contact its real estate department.

New York -- Barneys New York will close its 88,000-sq.-ft. store in NorthPark Center, Dallas. It will remain open until April 2013.

"After careful consideration, Barneys New York has exercised its contractual right to terminate the lease for its Dallas location prior to its expiration," said a spokeswoman.
 

Hoffman Estates, Ill. -- Kmart and Sears are gearing up for the holiday shopping season with the elimination of layaway service fees, a new layaway home delivery service and an enhanced in-store mobile experience.

New York -- Hennes & Mauritz AB has cut a deal to open in Manhattan’s Times Square, the New York Post reported.

According to the report, H&M will move into the three-floor, 42,510-sq.-ft. space at 4 Times Square that was previously occupied by the restaurant ESPN Zone. The space, which has been vacant for some two years, includes two huge billboards that wrap above the store’s facade along Broadway and West 42nd Street.

HOFFMAN ESTATES, Ill. — Kmart and Sears are eliminating layaway service fees, starting a layaway home-delivery service and new in-store mobile features for what the company expects to be the busiest shopping season since 2007.

Retail sales in September decelerated from August at many of Walmart’s competitors, but overall demand remained positive judging from the shrinking number of companies who continue to report monthly results.

Discounters The TJX Cos. and Ross Stores reported September same-store sales that rose 6% and 5%, respectively. The figures exceeded both companies’ expectations and shoppers continue to respond to their brand of apparel retail.

Foothills Ranch, Calif. -- The chairman of The Wet Seal and three other directors have stepped down from its board, replaced by four nominees of the Clinton Group. The move follows several attempts by the activist investor group, which holds about 7% of Wet Seal, to take control of the struggling retailer.

As a result of the board changes, Clinton Group has agreed to terminate its effort to get support from shareholders for its nominees, Wet Seal said Friday.