Department Store

The National Retail Federation testified before Congress Wednesday on the need to pass a federal data breach notification law that applies to all entities that handle sensitive customer data.

Los Angeles -- American Express is preparing to launch a customer loyalty program in the U.S. that will enable shoppers at select retailers to rack up points that they can use toward future purchases at Macy's, Exxon Mobil, AT&T and other participating companies.

The free program, set to debut in May, is dubbed Plenti and will also include Nationwide, Rite Aid, Direct Energy and Hulu, American Express said Wednesday.

Santa Monica, Calif. – Macerich Co., a California-based mall operator whose properties include Tysons Corner Center in Tysons Corner, Virginia, has rejected a hostile $22 billion takeover bid from Simon Property Group Inc. Macerich has publicly stated it thinks the deal undervalues its portfolio and growth opportunities.

"It is truly disappointing Macerich would not even meet to discuss our proposal," said Simon Property CEO David Simon. "Macerich's rejection is based on a rosy view of its future prospects."

JCPenney has lost its chief marketing officer at a time when the company has been trying to rebuild its brand image.

Plano, Texas – Deb Berman, chief marketing officer of The J.C. Penney Co. Inc., has left the company. In a statement, J.C. Penney said Berman left of her own accord.

Berman came to Penney from Kraft Foods Group in August 2013, as part of CEO Mike Ullman’s attempt to rebuild the retailer’s management team.  She served at Kraft as VP of marketing and engagement and also had prior experience working at advertising agencies.
 

Columbus, Ohio - Easton Town Center, a 1.7 million-sq.-ft. “New Urban” shopping center, has announced that 13 new tenants have signed lease agreements to be included in the shopping center’s new 500,000-sq.-ft. north district, Easton Gateway. The announcement was made by Easton Town Center co-developers Steiner + Associates and The Georgetown Company.

Foothill Rach, Calif. – A winning bidder has reportedly emerged for the assets of The Wet Seal Inc., which declared bankruptcy in January 2015. According to the Wall Street Journal, Versa Capital Management LLC will take over at least 140 store leases and invest $10 million in the specialty apparel chain.

Buoyed by impressive fourth quarter sales, Burlington Stores Inc. is accelerating its expansion strategy, with plans to open 25 new stores in 2015 and a long-term goal of 1,000 stores coast-to-coast.

The off-price retailer reported that total revenue for the fourth quarter ended Jan. 31 grew 10% to $1.5 billion from $1.34 billion. Same-store sales rose 6.7%.