Department Store

London stands at the forefront of international retailing as a global retail powerhouse, and as the number one market in the world.

That’s one of the findings of a new study from JLL, which identifies the top 50 major cities worldwide that offer the top growth prospects for retailers’ expansion plans. Hong Kong follows London in the rankings, with Paris, Dubai and New York City rounding out the top five. (A list of the top 25 markets is at the end of article.)

The J.C. Penney Co. Inc. is teaming up with a well-known social network to help draw traffic and sales at select mall-based locations.

According to Advertising Age, Penney will display digital Pinterest boards in 10 malls around the country as part of a Mothers’ Day promotion. The boards will display apparel, hair and beauty products that are available in nearby Penney stores at the mall. The promotion will also include featured in-person appearances by well-known fashion bloggers.

Cross-border expansion is on the rise and an extensive new study from JLL identifies the top 50 major cities worldwide that offer the top growth prospects.

Macy's chose Earth Day to give an update on its ongoing solar power deployments.

The retailer, in a 10-year partnership with SunPower Corp., has deployed SunPower solar systems at, or planned for, 71 Macy's and Bloomingdale's locations in 10 states, totaling approximately 39 megawatts.

Fifty SunPower systems are operating to date, and the company is contracted to install its technology at 21 additional Macy's and Bloomingdale's facilities this year.

Sears Holdings announced its latest round of store closings as it continues to look for ways to cut expenses and return to profitability after five years of losses.

The embattled retailer, which has been steadily shrinking its physical portfolio over the last few years, will close 68 Kmart and 10 Sears stores this summer. (See list of locations at end of story.) In February, Sears warned it would speed up the closing of unprofitable stores.

Troubled teen retailer Aeropostale Inc. has been dealt another blow.

On Friday, the New York Stock Exchange suspended trading of the retailer’s stock with immediate effect, due to an "abnormally low" trading price.

Aeropostale does not intend to appeal the delisting. It said its shares will instead be traded on the OTCQX Best Market, an over-the-counter market operated by OTC Markets Group Inc. The new ticker is "AROP".

Aeropostale Inc. preparing to file for Chapter 11 bankruptcy as soon as this month, Bloomberg reported, citing people familiar with the matter.

Aeropostale has recorded three consecutive years of losses as its struggles to deal with a teen audience whose spending tastes now favor fast-fashion giants such as H&M as well as online retailers. The chain operates some 800 stores nationwide.

The Finish Line said that John Hall will join the company in mid-May as executive VP, divisional president and chief merchandising officer.

Hall, a 30-year Nordstrom executive, most recently served as VP, corporate merchandiser of Rack Menswear.

At Finish Line, Hall’s focus will span across consumer engagement touchpoints including stores and digital operations, merchandising and strategies involving the company’s product vision. He will drive the retailer’s brand growth strategies.