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Department Store

  • Growing portfolio and strategic successes Mark 2015 for Sembler

    St. Petersburg, Fla. -- The Sembler Company added 420,000 sq. ft. of new acquisitions to its portfolio in 2015, in addition to breaking ground on three new shopping centers and inking deals for three more – all while maintaining more than 95% portfolio occupancy.

  • Hudson’s Bay Company acquires Gilt Groupe

    Leading department store operator Hudson’s Bay Company confirmed months of speculation and agreed to pay what appears to be a modest sum to acquire online luxury retailer Gilt Groupe.

    Hudson’s Bay, which operates 470 department stores including Saks Fifth Avenue and the Off 5th discount format, said it agreed to pay $250 million for Gilt in a deal that will add $500 million to 2016, $40 million in adjusted operating profit by 2017 and countless synergies to leverage the combined companies’ infrastructure and customer databases.

  • The Finish Line stumbles in Q3, names new CEO

    The Finish Line has promoted its president to CEO and plans to close a quarter of its stores as the retailer said supply chain problems hurt its third quarter performance.

    The retailer announced that Sam Sato will succeed Glenn Lyon as CEO of The Finish Line, Inc., effective Feb. 28. Lyon will transition to the role of non-executive chairman of the board.

  • Nordstrom Rack on the move

    Nordstrom continues to expand its off-price format, with plans to open a Nordstrom Rack at The Marketplace at Braintree in Braintree, Massachusetts. The approximately 35,000-sq.-ft. store, leased from Seritage Growth Properties is scheduled to open in fall 2016.

    Nordstrom Rack at The Marketplace at Braintree will join a diverse group of retailers including Ulta Beauty, Sports Authority, Best Buy, Bed Bath & Beyond and PetSmart. The 351,282-sq.-ft. center is located south of downtown Boston and near main highways including I-93, I-95 and Route 3.

  • Hudson’s Bay Company accelerates omnichannel with Gilt Groupe purchase

    Leading department store operator Hudson’s Bay Company confirmed months of speculation and agreed to pay what appears to be a modest sum to acquire online luxury retailer Gilt Groupe.

    Hudson’s Bay, which operates 470 department stores including Saks Fifth Avenue and the Off 5th discount format, said it agreed to pay $250 million for Gilt in a deal that will add $500 million to 2016, $40 million in adjusted operating profit by 2017 and countless synergies to leverage the combined companies’ infrastructure and customer databases.

  • Rouse boosts operating metrics and social customer experience in California

    Redding, Calif. -- Rouse Properties announced it has significantly improved key operating metrics at Mt. Shasta Mall located in Redding, California, through execution of its leasing strategy with prominent national and regional retailers, as well cosmetic enhancements to the interior and exterior of the mall.

  • J.C. Penney overcomes warm weather with omnichannel

    Less than 12 hours after Macy’s shared bleak holiday results, J.C. Penney said enhanced digital capabilities helped it to produce strong holiday season same store sales growth which allowed the company to reaffirm its full year profit forecast.

  • J.C. Penney overcomes warm weather with enhanced omnichannel capabilities

    Less than 12 hours after Macy’s shared bleak holiday results, J.C. Penney Co. said enhanced digital capabilities and strong demand for its private-label offerings helped it to produce strong holiday season same-store sales growth, which allowed the company to reaffirm its full year profit forecast.

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