Department Store

Sears Holdings Corp. announced it obtained a 15-month $500 million secured loan facility. ESL Investments, the company controlled by Sears chairman and CEO Edward Lampert, helped provide part of the loan and is entitled to related fees.

Sears said $250 million of the 15-month loan was funded on Friday with the remainder being accessible in the future.

Many retailers are adding restaurants and even bars to enhance the shopping experience. Going forward, Kohl’s will not be one of them.

After a seven-month test, the retailer has decided to shutter the cafes it opened in its two of its stores in Wisconsin, the Milwaukee Business Journal reported.

Chattanooga, Tenn. -- CBL & Associates Properties announced that it has completed $151.5 million ($86.9 million at CBL's share) in dispositions in two separate transactions.

CBL and its 50/50 joint venture partner sold the Renaissance Center, a 363,000 sq. ft., community shopping center located in Durham, North Carolina.

Market Track compared retail circular advertising in March 2016 vs. March 2015 and noted trends occurring across top retail chains.

Lowe’s Home Improvement had denser March print circulars with twice the ads per page and nearly 80 additional ads per drop. Lowe’s shifted the Spring Black Friday sale to the 3/31 drop; up from first week of May 2015.

Home depot did not counter this shift through print, but promoted Spring Black Friday on their website.

Durham, North Carolina -- InvenTrust Properties announced that it has acquired Renaissance Center, a 96% leased, 363,176 sq. ft. retail power center, in Durham, North Carolina, for $129.2 million.

Bed Bath & Beyond has entered a new phase in its growth trajectory, becoming more aggressive in returning cash to shareholders and initiating a quarterly dividend as opposed to fueling top-line growth with rapid store expansion.

Howard Hughes Corp. has added a fast-growing Dutch fashion brand to its lineup for its Seaport District revitalization project in lower Manhattan.

The developer has signed a lease with Scotch & Soda to set up shop in the shopping area which, when completed, will encompass seven buildings on several city blocks totaling over 365,000 sq. ft., with a mix of dining, shopping, entertainment and cultural offerings.

Sears Holding Corp. is making a timely expansion to its seamless “Meet With An Expert” service as it looks to engage with shoppers this spring.

Sears has extended its “Meet With An Expert” service introduced last fall to its lawn and garden department. The free service allows online shoppers to schedule in-store appointments with experts in specific product areas.