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  • Twenty-seven year Walgreens vet named to Fred’s executive team

    Fred's Inc. has appointed Rick Hans as executive VP and CFO. He fills the position left open when Jerry A. Shore, Fred's former finance head, was promoted to CEO in October 2014.

    Prior to joining Fred's, Hans enjoyed a 27-year career with Walgreens, where he most recently served as VP of investor relations and finance. Hans previously held the position of director of finance and assistant treasurer, where he promoted a sound capital structure that subsequently provided the basis for major strategic acquisitions.

  • Report: Another teen apparel retailer considering bankruptcy filing

    The rise of fast-fashion, changing fashion tastes and online commerce may be claiming another teen apparel retailer.

    Pacific Sunwear of California Inc. is preparing to file for Chapter 11 bankruptcy, according to Bloomberg, which cited people with "knowledge of the situation.” The report said the filing could occur as early as next week.

  • Going-out-of-business sales begin at Hancock

    Hancock Fabrics is set to begin liquidation aftera U.S. Bankruptcy Court in Delaware approved the sale of the chain to Great American Group on Thursday.

    Great American Group says going-out-of-business sales for 185 Hancock Fabrics stores have already begun.

  • Department store giant continues to expand outlet store formats

    Macy’s announced it will open a new Bloomingdale's Outlet store in November 2016 at The Outlets at Orange, in Orange, California.

    The 24,000-sq.-ft. store will be the 17th Bloomingdale's Outlet location and offer a range of off-price apparel and accessories for men, women and children.

  • Good news for retailers in March jobs report

    March was a solid month for U.S. job makers, with retailers leading the way.

    The retail industry — excluding autos, gasoline and food services — added a solid 40,000 jobs in March, the National Retail Federation reported on Friday. The job market overall saw growth of 215,000 jobs in the month of March.

    Retail has added an average of 52,000 jobs per month over the last three months.

  • Landlords, Property Managers Beware: Co-Tenancy Provisions Not Just Window Dressing

    To sophisticated landlords and property managers, co-tenancy provisions contained in commercial leases are routine and (relatively) unexciting. Unfortunately — and perhaps as a result — such clauses are often overlooked. But a co-tenancy default can have a significant impact on a landlord’s bottom line, so landlords and their agents who manage their properties should understand how these provisions operate and the remedies to which a tenant is entitled in the event of a default.

  • Walmart cardholders to get cash rewards

    Walmart is launching a new tool to give shoppers more reasons to use their Walmart credit and prepaid cards. 

    The retailer is rolling out a new, simplified rewards program to bring more value to the everyday purchases customers make using the Walmart family of credit and prepaid cards. Walmart's new 3-2-1 Save cash back program will provide all qualifying cardholders in the U.S. and Puerto Rico with the opportunity to earn rewards for purchases they make, including:

  • PREIT Sells four non-core malls for $92.35 million

    Philadelphia -- PREIT announced it has completed the sale of four additional non-core malls. This is a milestone achievement for the company that signifies the near-completion of non-core mall disposition effort with one remaining mall being marketed for sale.

    Mall disposition transactions include:
    • Lycoming Mall in Pennsdale, Pennsylvania, anchored by J.C. Penney, Sears, Bon-Ton and Macy's sold for $26.35 million.

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