Department Store

Activist investor and hedge fund executive Bill Ackman has accomplished at J.C. Penney what he was unable to do at Target. He secured a seat on the department store retailer’s board after purchasing a bunch of shares and will now be able to push for strategies to increase shareholder value. Joining Ackman on the J.C. Penney board is another large shareholder, Steven Roth, chairman of Vornado Realty Trust.

Houston -- The Men's Wearhouse said Friday it has elected former Victoria's Secret Stores CEO Grace Nichols to its board of directors.

The appointment is effective Jan. 30.

Nichols will be the ninth member of the company's board. She worked at Limited Brands for 20 years and was CEO of Victoria's Secret Stores from 1992 to 2007. Nichols is also on the boards of Pacific Sunwear of California and of New York & Co.

North Plainfield, N.J. -- A survey released Friday by Levin Management Corp. said that he majority of shopping center tenants are optimistic about the year ahead.

According to the real estate firm’s pre- and post-holiday survey of Northeastern retailers, 61.5% of respondents were positive about 2011, and 52.2% of respondents said holiday sales topped or equaled 2009

HOUSTON  -- The Men's Wearhouse announced that Grace Nichols has been elected to the company's board of directors, effective January 30, increasing the number of directors to nine.

Newport Beach, Calif. -- Grubb & Ellis Co. said Friday that H&M has leased 19,600 sq. ft. of retail space at The Forum in Carlsbad. 

The retailer signed a 10-year lease for the space, which includes a portion of the second level of The Forum. The company will take the majority of the space currently occupied by Borders Direct LLC, which is expected to vacate in spring 2011. 

The retailer, which plans to open its Carlsbad location in summer 2011, now has 2,200 stores in 38 countries.

New York City -- Real estate firm The Feil Organization announced Friday that Tommy Bahama has signed a groundbreaking lease for the opening of its first Manhattan store at 551 First Avenue at 45th Street.

The Seattle-based chain signed a 12-year lease agreement and will occupy 8,500 sq. ft. on the ground, mezzanine and basement levels of the renowned art deco Fred F. French building that is owned and managed by The Feil Organization.

Little Rock, Ark. -- In a regulatory filing on Wednesday Dillard's said it plans to form a real estate investment trust, with the objective of improving liquidity.

According to the department store retailer, various company entities will transfer interests in properties to the REIT, which will then lease the properties back to them.

"Dillard's believes the formation of a REIT may enhance its ability to access debt or preferred stock and thereby enhance its liquidity," the filing said.

Atlanta -- First Data Corp. said Thursday that it has entered into an agreement with Kohl’s Department Stores to provide payment processing services for the company’s private brand credit-card accounts.

The multi-year agreement calls for First Data to provide Kohl’s with credit-card processing, customer analytics, risk-management services and automated customer service workflow tools.

Financial terms of the agreement were not disclosed.