Department Store

New York City -- The Talbots said on Tuesday that its board of directors has adopted a shareholder rights plan -- or a poison pill -- to protect its stockholders after a private equity firm disclosed it had acquired a sizeable stake in the company.

On Monday, Sycamore Partners LP revealed it had acquired a 9.9% stake in Talbots and said it planned to attempt to talk with the retailer about strategy and operations.

Reports put Talbots’ market value at $288 million, and suggest a buyout would exceed $400 million.

Indianapolis -- Simon Property Group announced Tuesday that its Premium Outlets division will expand four of its most productive Premium Outlet properties located in California, Florida, Illinois and Washington. 

Construction on these expansions is scheduled to begin in 2012, and total 450,000 sq. ft. of added space.

NEW YORK — Macy's has announced the launch of exclusive bedding line Bar III. Now available in 100 Macy's stores and on macys.com, items in the line are priced from $40 to $250.

Philadelphia -- Pennsylvania Real Estate Investment Trust announced that J.C. Penney, Nordstrom Rack, Bravo Cucina Italiana and Forever 21 will join The Cheesecake Factory in 190,000 sq. ft. of anchor space formerly occupied by Strawbridge’s at Willow Grove Park in suburban Philadelphia.

The reconfiguration of the former Strawbridge’s store sets the stage for continuing the fashion-oriented merchandising strategy that differentiates the mall and appeals to a wide range of shopping and dining tastes.

Baltimore -- Oak Brook, Ill.-based Inland Western Retail Real Estate Trust announced that Reisterstown Plaza Associates LLC, one of its wholly owned subsidiaries, has signed a lease with Big Lots to occupy a 35,000-sq.-ft. location at Reisterstown Road Plaza in Baltimore.

The Big Lots is slated to open this fall and brings the center to more than 92% leased.
 

Pleasanton, Calif. -- Ross Stores said Tuesday that it will simultaneously open 12 stores on Oct. 8, all located in the greater Chicago area.

The new Ross Dress for Less stores will open simultaneously in Algonquin, Arlington Heights, Bloomingdale, Crystal Lake, Matteson, Naperville, Niles, Orland Park, Rockford, Schaumburg, Skokie and South Elgin.

"We are excited to be entering the Chicago area, which will significantly expand our national footprint," said Michael Balmuth, vice chairman and CEO, Ross Stores.

HOFFMAN ESTATES, Ill. — Sears Holdings announced that Edgar Huber has joined the company as CEO and president of Lands' End.  Huber is responsible for driving growth and profit opportunities for Lands' End, as well as continuing to drive the culture that provides customers with the quality, value and service that the brand has long been known for.  He was most recently EVP global business development for Liz Claiborne Inc.

WASHINGTON — Amazon and other online-only retailers have been dealt a major blow, as legislation introduced last week seeks to require such retailers to collect sales tax.

The Main Street Fairness Act would allow states that have adopted the Streamlined Sales and Use Tax Agreement to require out-of-state sellers to collect sales tax whether they have a physical presence in their state or not. The bill would cover all “remote sellers,” which include online retailers, catalog merchants and “1-800” offers on radio and television.