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Cherry Hill Mall and GoMoto aim to change auto retail
Philadelphia — Want to buy a car? Check out the automotive showroom at Pennsylvania Real Estate Investment Trust’s Cherry Hill Mall.
PREIT has undertaken a three-month partnership with GoMoto, an automotive tech company that aims to change the way people shop for cars.
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ODP plans 400 store closures
Office Depot said it plans to close 400 of its 2,000 stores as it looks to realize efficiencies related to its merger with OfficeMax.
An estimated 150 of the stores will close this year, according to company, which reported first quarter results and continued weakness in same store sales. The company anticipates that the closures will generate annual run-rate synergies of at least $75 million by the end of 2016 and will begin to be accretive to earnings in 2015.
