Mass Merchant

PLANO, Texas — JCPenney has sold its interest in Simon Property Group, L.P. back to Simon Property Group Inc. for $248 million in cash, helping the company get back on financial track.

BENTONVILLE, Ark. — Walmart has launched an effort to help diabetes patients save on their disease management products.

MINNEAPOLIS — Target is in the final stages of its remodeling plan that will bring an expanded assortment of fresh food to 30 general merchandise stores in the United States. The remodels are expected to be completed by October and will span markets from Cincinnati, Ohio to Jacksonville, Fla. and Nashville, Tenn. T

And the winner is… Oracle selects technology executive at Chile’s top department store chain for ultimate honor.

The average American has never heard of the Falabella chain of department stores, but the company dominates its home market of Chile and is regarded as a leader in the use of technology. So much so that when Oracle held its annual Retail Excellence Awards recently, it named Falabella’s VP technology and development, Julius Odian, as its Retailer Executive of the Year.

BURNABY, B.C. — Best Buy Canada and its subsidiary Future Shop are taking the issue of online competition head on with revised price match and return policies in response to the changing nature of retail in Canada and commitment to customer service.

Teen retailer Five Below is looking to become a household name following a wildly successful public stock offering this week that could see the company expand its store base from the current 200 units to 2,000.

Springfield, Pa. -- Ulta Beauty said it will open at Springfield (Pa.) Mall in fall 2012.

The 10,328-sq.-ft. store will feature a full-service salon in addition to its customary offerings, and will join anchors Macy’s and Target along with more than 70 specialty retailers at the center.

Springfield Mall is owned by Pennsylvania Real Estate Investment Trust (PREIT) and Simon Property Group.
 

Bedford, Ind. -- Beachwood, Ohio-based Chase Properties said it has acquired Williams Crossing in Bedford, Ind., from Horne Properties.

Williams Crossing is a 50,000-sq.-ft. shopping center that is shadow-anchored by a Super Walmart. Other tenants in the center include Dollar Tree, Maurices, Shoe Show and Hibbett Sports. Marcus & Millichap brokered the sale.