Department Store

Chattanooga, Tenn. -- CBL & Associates Properties announced that in 2012 it will complete multimillion dollar renovations at four market-dominant CBL Malls, with projects scheduled for Cross Creek Mall in Fayetteville, N.C.; Post Oak Mall in College Station, Texas; Turtle Creek Mall in Hattiesburg, Miss.; and Mall del Norte in Laredo, Texas. 

The renovations are expected to be completed by the end of 2012.

New York City -- A New York state Supreme Court filing on Monday disclosed that Macy’s Inc. is suing Martha Stewart Living Omnimedia Inc. for breach of contract after Martha Stewart set up a new deal last December with J.C. Penney to sell products at its stores.

According to Macy's, Martha Stewart Living granted it product exclusivity under a 2006 agreement. J.C. Penney, which acquired a 16.6% stake in the company in December, plans to open Martha Stewart Living in-store shops, beginning in 2013, which violates that exclusivity, said Macy’s.

Menomonee Falls, Wis. -- Kohl’s Department Stores said Tuesday it will build a new e-commerce distribution center in DeSoto, Texas, outside Dallas.

The 951,000-sq.-ft. DC, which is slated to open in summer 2012, will fulfill Kohls.com purchases. Kohl’s said it will close on the agreement once the building process is complete.

MENOMONEE FALLS, Wis. — Kohl’s Department Stores announced that it has entered into a purchase agreement to build a new e-commerce distribution center located at I-35 and Centre Park Blvd. in DeSoto, Texas. Expected to open in summer 2012, upon completion the approximately 951,000 sq.-ft. building will fulfill Kohls.com purchases. Kohl’s will close on the agreement once the building process is complete.

New York City -- Apple stores around the world are pulling in an annual average of $4,709 sales per square foot, CNN Money reported.

While a handful of super-high-end luxury retailers with limited floor space in New York City and foreign capitols may do better, Apple’s numbers make it by far the most valuable chain in the United States. Apple’s closest chain competitor is Tiffany & Co., which garners an average of $2,974 per square foot, according to the report.


 

Covington, La. -- Stirling Properties announced it has acquired Shreveport, La.-based Avant Properties, strengthening Stirling’s presence in the Gulf South.

Avant Properties’ current personnel and portfolio will be integrated into Stirling Properties operations. 

Naperville, Ill. -- Brixmor Property Group announced a 4,000-sq.-ft. Gymboree Play and Music recently opened at Westridge Court, located in Naperville, Ill.

Brixmor, based in New York City, is the owner of Westridge Court.

New York City -- Coach Inc. reported Tuesday that net earnings for the quarter ended Dec. 31 rose 15% to $347.5 million, compared with $303.4 million in the year-ago period.

Sales increased 15% to $1.45 billion, beating Wall Street’s expected $1.43 billion in revenue.