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Forever 21 to expand at Discover Mills
Lawrenceville, Ga. -- Indianapolis-based Simon Property Group and its real estate platform The Mills announced that a newly expanded 20,000-sq.-ft. Forever 21 will open at its value retail destination Discover Mills, located in Atlanta.
The enlarged Forever 21 is slated to open summer 2012 near Entry 5 across from Nike Factory Store.
“An expanded and relocated Forever 21 enhances our value retail mix and the overall shopping experience at Discover Mills,” said Karl Woodard, general manager of Discover Mills.
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Sales growth at Urban Outfitters not enough to meet expectations
PHILADELPHIA — Urban Outfitters saw profit for the fourth quarter fall to $39.3 million, from $75.2 million a year earlier. Sales rose 9% to $730.6 million, missing Wall Street’s expected $740 million in revenue.
The operator of Anthropologie, Free People and Urban Outfitters stores said heavy discounting over the holidays took a big toll on margins; in fact, margins have declined for at least five quarters as the retailer has made major markdowns to clear out slow-moving merchandise.