Department Store

MINNEAPOLIS — Target is in the final stages of its remodeling plan that will bring an expanded assortment of fresh food to 30 general merchandise stores in the United States. The remodels are expected to be completed by October and will span markets from Cincinnati, Ohio to Jacksonville, Fla. and Nashville, Tenn. T

The nation’s leading arts and crafts retailer is looking for a new top executive after John Menzer resigned to focus on recovery from a stroke.

After Menzer suffered a stroke in April, Michaels created an office of the CEO comprised of Lew Klessel, interim COO and a managing director of Bain Capital, and Chuck Sonsteby, Michael’s chief administrative officer and CFO. The pair will continue to lead the company until Menzer’s successor is hired.

Springfield, Pa. -- Ulta Beauty said it will open at Springfield (Pa.) Mall in fall 2012.

The 10,328-sq.-ft. store will feature a full-service salon in addition to its customary offerings, and will join anchors Macy’s and Target along with more than 70 specialty retailers at the center.

Springfield Mall is owned by Pennsylvania Real Estate Investment Trust (PREIT) and Simon Property Group.
 

Katy, Texas -- Soma Intimates said it will open a new boutique at LaCenterra at Cinco Ranch, located in Katy, Texas.

The new store is slated to open July 23.

A joint venture of Houston-based Vista Equities Group and Denver-based Amstar Group, LaCenterra at Cinco Ranch is a mixed-use town center development located within the 7,600-acre master planned community of Cinco Ranch.

Phase I of LaCenterra opened March 1, 2007 with approximately 170,000 sq. ft.
 

ARMONK, N.Y. — In-store sales of women’s clothing are expected to see a 9.2% increase in the third quarter of 2012 versus the year-ago period, according to a just-released IBM analytics-based forecast of U.S. retail sales data. The report predicts a 6.2% increase in sales of children’s clothing and a 5.2% increase in footwear. Men’s clothing, however, is forecast to lag, dropping 6.7%.

Bedford, Ind. -- Beachwood, Ohio-based Chase Properties said it has acquired Williams Crossing in Bedford, Ind., from Horne Properties.

Williams Crossing is a 50,000-sq.-ft. shopping center that is shadow-anchored by a Super Walmart. Other tenants in the center include Dollar Tree, Maurices, Shoe Show and Hibbett Sports. Marcus & Millichap brokered the sale.
 

MENOMONEE FALLS, Wis. — Kohl's has reached an agreement with the state of Wisconsin that will keep the retailer’s headquarters in Menomonee Falls, which is located about 20 miles northwest of Milwaukee. Kohl’s will receive up to $62.5 million in tax credits from the state over 12 years. The final amount of the tax credits is dependent on the number of employees the chain adds at its facility and the amount of money Kohl’s invests in developing its campus.

Retailers should brace for strong back-to-school sales according to a National Retail Federation survey that shows a surge in K-through-12 and college spending.