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Retail

  • Starbucks adds retail group to oversee new store concepts

    New store formats loom large in Starbucks Corp.’s long-term strategy.   The coffee giant on Monday announced that Cliff Burrows, who has headed up Starbucks' Americas business for eight years, will lead a new group within the company called Siren Retail. In the role, Burrows will oversee the global expansion of the chain’s new Roastery concept, as well as the development of the upscale Starbucks Reserve stores. http://www.chainstoreage.com/article/coffee-giant-two-new-store-expansion-moves  
  • Off-pricer continues to expand

    The Dallas area is getting its sixth Nordstrom Rack store.   Nordstrom said it will open a Nordstrom Rack at The Centre at Preston Ridge in Frisco, Texas. The approximately 33,000-sq.-ft. store is scheduled to open in fall 2017. The property is owned by Brixmor Property Group.  
  • Unsecured creditors seek quick liquidation of former sporting goods giant

    Unsecured creditors of Sports Authority said in court papers that the bankrupt retailer should not waste its dwindling funds preparing a plan to end its Chapter 11.     The unsecured creditors argued the company, which filed Chapter 11 in March, is "administratively insolvent," meaning it cannot even pay the cost of running its bankruptcy case, Reuters reported.  
  • CBL sells two Michigan malls for $66.5 million

    CBL & Associates announced it has completed a $66.5 million sale of two malls in Michigan — The Lakes in Muskegon and the Fashion Square Mall in Saginaw. The identity of the buyer was not disclosed.   CBL president and CEO Stephen Lebovitz said the Michigan sales were part of a long-term plan to move to a portfolio of higher quality, higher-growth portfolios.   
  • Walmart asks suppliers to remove 8 chemicals from products

    Walmart has asked suppliers to remove "high priority chemicals," such as formaldehyde and triclosan, from their products as part of an effort to eliminate controversial chemicals from household goods.

  • Unusual online player seeks to crack dollar store segment

    Online retailer Hollar is looking to take sales away from a segment that, to date, has proved relatively immune to digital growth: dollar stores.  
  • Unable to find a buyer, entertainment retailer to close all stores

    Hastings Entertainment is going out of business.
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