Department Store

York, Pa. – The Bon-Ton Stores, Inc. has reached an agreement with the city of Milwaukee to extend the lease for its Boston Store location in The Shops of Grand Avenue, Milwaukee, contingent upon the city providing financial contributions from its downtown Tax Increment Financing district.

Nordstrom plans to open its third fulfillment center at Conewago Industrial Park in Elizabethtown, Pa., in summer 2015. The approximately 672,000-sq.-ft. building, with an additional 470,000-sq.-ft. mezzanine, will enable faster delivery for Nordstrom.com, Nordstrom mobile app and Nordstrom catalog orders.

New York – Macy’s opened the exclusive NFL Shop at Super Bowl on the fourth floor of its flagship Herald Square in New York City on Sunday, Jan. 19. Macy’s will keep the 36,000-sq.-ft. space open through Tuesday, Feb. 4.

The back and forth between Jos. A. Banks and Men’s Wearhouse continues. This time the shoe is on Jos. A. Banks’ foot, as the company’s board of directors officially rejected an unsolicited buyout offer from the Men’s Wearhouse.

Jos. A. Bank called the offer, which expires March 28, 2014, and is worth $57.50 per share, or about $1.6 billion, “inadequate and opportunistic.”

Warren, Mich. — Art Van Furniture has announced a seventh Chicagoland location in Downers Grove. For the new store, slated to open in January of 2015, the retailer plans to renovate a two story 106,000-sq.-ft. former Home Depot Expo Center on Butterfield Road off of Interstate 88.

Art Van Furniture will open its sixth Chicagoland location in Woodridge-Bolingbrook in April. Last year, the retailer rolled out five new stores in the region — in Logan Square, Bedford Park, Orland Park, Batavia and Merrillville.

Hampstead, Md. – The board of directors of Jos. A. Bank Clothiers, Inc. has officially rejected an unsolicited buyout offer from The Men’s Wearhouse. The offer, which expires March 28, 2014, is worth $57.50 per share, or about $1.6 billion.

Jos. A. Bank called the offer “inadequate and opportunistic” in announcing its rejection.

Covington, La. — JCH Development and Stirling Properties have broken ground on Magnolia Marketplace, a 106,000-sq.-ft. shopping center in New Orleans, at the intersection of South Claiborne Avenue and Toledano Street.

Leading beauty products manufacturer Elizabeth Arden is the latest company to cite an intensely promotional marketplace as the reason for worse-than-expected holiday season sales and profits.

The company said sales for its second quarter ended Dec. 31, would be in the range of $414 to $418 million and earnings per share would be between $1.13 and $1.16, substantially below sales of $468 million and earnings of $1.47 during the same period the prior year.