News

CBL & Associates and High Real Estate Group has the sold their joint interest in High Pointe Commons in Harrisburg, Pennsylvania, to Unison Realty Partners for $33.8 million.    The proceeds will be used by the sellers to retire secured loans totaling $17.4 million, and CBL will use its net proceeds to reduce outstanding balances on its lines of credit.  

Swiss watchmaker Breitling opened its boutique at Westfield World Trade Center in New York and promises to make it an all-senses experience for shoppers.  

MoneyGram and Walmart on Tuesday announced the launch of a new state-of-the-art online money transfer platform that offers customers new features and a streamlined experience when sending money through <a href="http://walmart.moneygram.com/" style="box-sizing: border-box; margin: 0px; padding: 0px; max-height: 100000px; color: rgb(0, 83, 160); text-decoration: none; border: 0px; outline: none; font-family: open_sansregular, Arial, Helvetica, sans

Photo: Sonya Gafsi Oblisk    Whole Foods Market named the former VP of marketing for Walmart’s Sam’s Club division as global VP of marketing.  

WithMe, an interactive brick-and-mortar shopping experience that features limited runs of traditional and pure-play retail brands, has opened three new pop-ups in its flagship space at Santa Monica Place, Santa Monica, Calif.   

In the lead-up to this year’s holiday season, retailers across the country are already making important preparations in the hopes of increasing sales, improving customer service, and preventing data breaches. This last concern carries with it a heavy price tag; according to a survey from the Ponemon Institute, the average cost of holiday season cyber attacks is $8,000 per minute or nearly half-a-million dollars per hour.   

Aeropostale Inc. will live to see another day after all.    A consortium, including Simon Property Group Inc. General Growth Properties Inc. and Authentic Brands Group, won the bankruptcy auction for Aeropostale Inc. The group, which also includes liquidators Gordon Brothers Retail Partners LLC and Hilco Merchant Resources LLC,  plans to keep at least 229 of the teen retailer’s stores up and running along with Aeropostale's e-commerce business and  international licensing business.   

Hanjin Shipping Co., the world’s seventh-largest container shipper, is working to ease the potential cargo chaos caused by its bankruptcy filing last week.    The filing rose concerns among some of the nation’s biggest retailers that some merchandise may not arrive in time for the crucial holiday season, blooomberg.com reported.  

Lululemon Athletica Inc. revealed that it plans to open smaller, “local” stores amid results that disappointed Wall Street.   Net revenue for the quarter ended July 31 increased 14% to $514.5 million, just shy of projections, from $453.0 million in the year ago period. Total comparable sales rose 4%, with in-store sales up 3% and direct to consumer sales up 6%.   Net income increased 12.5% to $53.6 million.