Department Store

Chicago -- Tucker Development, in joint venture with Hutensky Capital Partners, announced the $57.25 million acquisition of Town Square Wheaton (TSW), a 200,000-sq.-ft. shopping, dining and office destination located in Wheaton, Illinois.
 

Macy’s will finally unveil its off-price business model in the fall by opening four new stores in the New York City area under a name that might not be so unfamiliar to loyal customers.

Sunnyvale, Calif. -- Boomerang Commerce, a provider of omnichannel pricing technology, announced that Office Depot, Sears, and Groupon have deployed Boomerang’s Price Perception Index and rapid pricing testing platform.

Boomerang enables revenue growth and protects margins by rapidly analyzing, testing and deploying smart pricing, inventory and assortment strategies.

In addition, Boomerang unveiled two executive hires to help scale the team and the company’s global sales and marketing efforts.

In the South, it’s never too early to talk about football, which is why N.C.-based department store Belk made a big college football announcement this week.

The chain says it will be the title sponsor of the 2015 Belk College Kickoff Game, featuring the University of North Carolina Tar Heels and the University of South Carolina Gamecocks. The game is set to take place at Bank of America Stadium in Charlotte on Sept. 3 with a 6 p.m. kickoff.

Nordstrom may well be the first public company to have three presidents as co-presidents.

Kohl’s is showing its customers that it cares about the recent earthquake in Nepal by making a large donation through its Kohl's Cares program.

The retailer is awarding a $50,000 cash grant toward earthquake relief efforts in Nepal. Kohl’s is providing this donation to the American Red Cross, which is delivering much-needed emergency supplies and services in the impacted areas.

Seattle -- Nordstrom may well be the first public company to have three presidents as co-presidents. The department store retailer on Tuesday announced that Blake Nordstrom, Pete Nordstrom and Erik Nordstrom have been named co-presidents of Nordstrom.

The new titles are, to a large extent, symbolic. The three executives will retain their current roles and responsibilities and will continue to serve on the Nordstrom board. There will be no change to their annual compensation.

New York – American Express is launching a new loyalty program called Plenti. The program lets consumers use loyalty points accrued at one participating retailer and use them at another.

Initial participating organizations include AT&T, Exxon, Macy’s, Mobil, Nationwide, Rite Aid, Direct Energy, Enterprise Rent-A-Car and Hulu. The program is expected to include more brands in additional categories over time.