Mass Merchant

Chattanooga, Tenn. -- CBL & Associates Properties announced that in 2012 it will complete multimillion dollar renovations at four market-dominant CBL Malls, with projects scheduled for Cross Creek Mall in Fayetteville, N.C.; Post Oak Mall in College Station, Texas; Turtle Creek Mall in Hattiesburg, Miss.; and Mall del Norte in Laredo, Texas. 

The renovations are expected to be completed by the end of 2012.

NEW YORK — Hudson's Bay Company, the Canadian retail conglomerate, and one of the oldest department-store operators in the world, announced Tuesday that it has completed its acquisition of its affiliate, Lord & Taylor Holdings, LLC, the U.S. department-store company.

According to a company press release, Hudson's Bay will now operate the two leading retail banners in North America, The Bay and Lord & Taylor. Prior to the transaction, Hudson's Bay Company and Lord & Taylor were side-by-side affiliate entities.

New York City -- A New York state Supreme Court filing on Monday disclosed that Macy’s Inc. is suing Martha Stewart Living Omnimedia Inc. for breach of contract after Martha Stewart set up a new deal last December with J.C. Penney to sell products at its stores.

According to Macy's, Martha Stewart Living granted it product exclusivity under a 2006 agreement. J.C. Penney, which acquired a 16.6% stake in the company in December, plans to open Martha Stewart Living in-store shops, beginning in 2013, which violates that exclusivity, said Macy’s.

Minneapolis -- Target Corp. announced Tuesday it has promoted current senior VP-finance John Mulligan to executive VP and CFO, effective April 1.

The announcement concludes a comprehensive search which included both internal and external candidates, said Target.

Mulligan succeeds Doug Scovanner, who announced his retirement last November.

A 16-year Target veteran, Mulligan has held leadership positions in finance, target.com and human resources.

New York City -- Winick Realty Group said that children’s retailer Youngworld leased 30,000 sq. ft. for a new three-story location in the Corona section of Queens, N.Y.

The retailer has been a part of the community for more than 30 years, previously operating a 20,000-sq.-ft. location nearby. Built after the address had been ravaged by fire, the new, all-glass construction features 18-ft. ceilings and three floors of retail measuring 10,000 sq. ft. apiece.

Jacksonville, Fla. -- Regency Centers announced it has closed on the acquisition of its first New York property, the 141,382-sq.-ft. Lake Grove Commons, for $72.5 million with its co-investment partner First Washington Realty.

Located on Long Island, Lake Grove Commons is a Class A property anchored by the only Whole Foods Market in Suffolk County along with LA Fitness and Petco. Built in 2008, the center is fully leased to six national tenants.

MINNEAPOLIS — Target has promoted John Mulligan to the position of EVP and CFO, effective April 1. Mulligan currently serves as SVP finance. He replaces Doug Scovanner, Target’s EVP and CFO for the past 18 years, who announced his retirement in November 2011, effective March 31. 

Beachwood, Ohio -- Shopping center developer DDR Corp. said Monday that Anna's Linens will open three of its first Puerto Rico stores at DDR shopping centers.

These new locations represent the most recent example of DDR's efforts to strategically reduce and reconfigure small shop space at attractive market rents with high-quality tenants.