Mass Merchant

WAYNE, N.J. — Toys“R”Us announced that it has entered into a joint venture with Li & Fung Retailing that would make Toys"R"Us Inc. the majority shareholder of Toys"R"Us operations in Southeast Asia and Greater China. With this agreement, the existing Toys“R”Us licensed operations throughout Asia, which currently consist of more than 100 stores and offices across nine markets, will become 70% majority owned and controlled by Toys“R”Us Inc. and 30% owned by Li & Fung Retailing.

Jacksonville, Fla. -- Stein Mart said Monday it has completed a new $100 million senior secured revolving credit facility with Wells Fargo Bank, N.A. to replace an existing $150 million revolving credit facility, which was maturing in early 2012.

The new facility can be increased to $150 million and matures in February 2017. The revolving credit is for general corporate purposes, including issuing standby and commercial letters of credit, and provides an additional source of liquidity, according to Stein Mart.

Indianapolis -- Kite Realty Group said that The Flying Cupcake has leased 856 sq. ft. at Rivers Edge Shopping Center, located in Indianapolis.

Rivers Edge, recently renovated, is anchored by Nordstrom Rack, Buy Buy Baby, The Container Store, Harry & Izzy’s and soon Arhaus Furniture. The total GLA is 152,575 sq. ft.

York, Pa. -- As part of a real estate realignment strategy, The Bon-Ton Stores Inc. on Tuesday said it will close two of its department stores, one in Pennsylvania and the other in Ohio, when their leases expire in early 2012.

The company said it plans to close its store in the West Manchester Mall in York, Pa., in January, and its Elder-Beerman store in the Northwest Mall in Dayton, Ohio, which will shut down in February.

MIRAMAR, Fla. — Russell Hobbs, the licensee of the Farberware brand, announced that it has launched an exclusive line of small kitchen appliances at Walmart.

Farberware's line of products includes a chic, programmable coffee and tea maker, a dual-function food processor and a powerhouse 10-speed blender. All have stainless steel finishes and unparalleled craftsmanship perfect for the home chef that is interested in high-quality, great-looking appliances at an affordable price, according the company. All items are priced at $59.88 each.

Dallas -- Zale Corp. said Monday it has appointed Subha Ramesh as senior VP real estate, effective immediately.

Ramesh, who will report to chief administrative officer Matt Appel, was previously senior VP of Hilco Real Estate. Prior to that, she spent eight years at Limited Brands as senior VP real estate and as VP real estate for Intimate Brands.

HOFFMAN ESTATES, Ill. — Sears Holdings announced that its Shop Your Way Rewards members can now receive 5% back on all qualifying purchases at Sears and Kmart stores through Jan. 28, 2012. 

"We know budgets are tight, so we want to reward our customers by offering them ways to stretch their dollar," said Dave Friedman, SVP and president marketing at Sears Holdings. "We believe this program will help families get more out of every visit to Sears and Kmart when they use their Sears card."

Has anyone else noticed that the Christmas holiday “season” starts earlier and earlier each year? This year, Walmart had their Christmas displays out by mid-September and many retailers were touting holiday sales in October! I still remember when Black Friday was the “official” kick-off to the holiday shopping season and it was surprising to see Christmas decorations up in mid-November. I keep wondering what the real-world implications of this calendar shift might mean – if anything – for retailers’ overall holiday and end-of-year sales?