News

New York -- Maefield Development, Infinity Urban Century, The Witkoff Group and New Valley, an investment unit of Vector Group LTD announced that they have completed the $430 million acquisition of their Times Square Gateway Center development site. The purchase clears the way for construction of a 340,000-sq.-ft., 36-story, multi-use development that will anchor the northern end of Times Square, with a new retail experience, a hotel tower, and the nation's largest single LED screen.

New York – Alsea, Latin America's biggest restaurant operator, will invest $110 million over the next three years in 220 new Starbucks cafes in Mexico and Argentina, Reuters reported.

Around $75 million of the investment would be put into some 170 new stores in Mexico, which is Starbucks' fastest-growing Latin American market, with the balance going to its number two regional market Argentina, according to the report.

Currently, Argentina and Brazil have about 50 Starbucks stores each.

MINNEAPOLIS — Target Corp. and The Neiman Marcus Group will promote their upcoming joint holiday collection by serving as the sole sponsors of the mid-season finale of the hit ABC television show “Revenge.”

In place of standard broadcast commercials, the retailers are working directly with the creative team of “Revenge” to create original content incorporating the Target and Neiman Marcus holiday collection. The show will air on Nov. 11.

HERZOGENAURACH, GERMANY — Adidas has named Justin Bieber as the face of its Neo label.

As part of his two-year agreement with Adidas, Bieber will make appearances for the label in its major markets throughout 2013 and share its latest news and collections through his vast social media reach. He will front Neo's seasonal campaigns under its "Live Your Style" positioning, with spring/summer 2013 to debut in February.

PALO ALTO, Calif. — Shopping app Shopkick has gotten a new look and user interface, making it easier for shoppers to earn rewards and for brands and retailers to engage with their customers.

Dublin, Calif. -- Epicor Software Corp., a leader in business software solutions for manufacturing, distribution, retail and services organizations, announced the company has again been named the leading vendor of point-of-sale software for both specialty soft goods retailers and hard goods retailers by research and advisory firm IHL Group. This marks the second consecutive year that Epicor has been ranked the No. 1 vendor overall in both studies.

Washington, D.C. -- Most consumers will take a conservative approach with their holiday gift-giving budgets, according to NRF’s holiday consumer spending survey conducted by BIGinsight. The average holiday shopper will spend $749.51 on gifts, décor, greeting cards and more, up slightly from the $740.57 they spent last year. NRF forecasts that holiday sales will increase 4.1% to $586.1 billion.

HOFFMAN ESTATES, Ill. — Kmart is looking for five interns for a new program designed to provide opportunities to Hispanic women.