Department Store

Home goods and Sephora helped J.C. Penney turn a page on the ongoing story of its story of transformation by exceeding top-line growth expectations in the third quarter.

For its third quarter ended Oct. 31, the company cut its loss by 27% to $137 million, or 45 cents a share. It reported net sales of $2.90 billion, compared to $2.76 billion in the year-ago period. Same-store sales increased 6.4%.

Bruce Dayton, the father of Minnesota's governor and a key figure, along with his four brothers, in building the massive retailing business that became Target Corp., has died. Dayton, 97 and the last of the brothers to die, also launched the B. Dalton bookstore chain in 1966, the Star Tribune reported. [Star Tribune]

Moorestown, N. J. -- PREIT announced the execution of more than 40,000 sq. ft. of new leases and the completion of its renovation to the dining court at Moorestown Mall located in Moorestown, New Jersey. The one million-sq.-ft. property is anchored by Lord & Taylor, Macy’s, Boscov’s and Sears. New retailers include: Yard House, Starbucks Coffee, Liberty Supply Co., Toy Genius, Eye Deals, Yankee Candle, Verizon Wireless and H&M.

Target Corp. is bringing its smaller-sized, urban format to one of lower Manhattan’s trendiest — and wealthiest — neighborhoods.

The retailer will open an approximately 45,000-sq.-ft. store on Greenwich Street in Tribeca, near Battery Park, a fast-growing and affluent residential area, and the Financial District.

The two-level store is scheduled to open in October 2016. It is located in a 14-story, 625,000-sq.-ft. mixed-use building, whose landlord is Jack Resnick & Sons.

Home goods and Sephora helped JCPenney turn the page on the next chapter of its story of transformation by exceeding top-line growth expectations in the third quarter.

For its third quarter ended Oct. 31, the company reported net sales of $2.90 billion compared to $2.76 billion in the third quarter of 2014. Same store sales increased 6.4 % for the period. JCPenney cut its loss by 27% to $137 million, or 45 cents a share. Total sales increased 4.8 percent to $2.9 billion versus $2.76 billion last year.

Images courtesy of Bloomingdale’s

Nordstrom joined Macy's this week in blaming weak traffic for its disappointing same store sales as the Seattle-based chain also lowered its full-year guidance.

Nordstrom Inc. said that for the third quarter ended Oct. 31 same store sales increased .9%. It posted earnings of 57 cents per share on $3.33 billion in revenue. And net sales increased 6.6 percent.

Sears is going the private, members-only route this Black Friday in an effort to drive traffic to its stores.

For the first time ever, Sears will open all of its stores to select Shop Your Way members for a private night of shopping for many of its Thanksgiving/Black Friday doorbusters four days early. Sears will hold its "Members Private Night" in all stores on Nov. 22 from 6-9 p.m. While access to the event is by email or text invitation only, members can text the word "EXCLUSIVE" to 73277 to receive an invitation, while supplies last.