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Target renovates Chicago area stores to new layout
Minneapolis -- Target announced that more than 55 of its stores in the Chicago area have been redesigned to further deliver one-stop shopping convenience for guests. The stores have been updated to feature the retailer’s open-market grocery layout, with an expanded selection of fresh produce, fresh meat and baked goods.
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J.C. Penney adopts poison pill
Plano, Texas -- J.C. Penney said Monday that it has adopted a shareholder rights plan, or so-called poison pill, in light of "recent rapid accumulations of a significant percentage of the company's outstanding common stock." The plan has a term of one year. The rights have a 10% trigger.
- The news follows the announcement that activist investor Bill Ackman's Pershing Square Capital Management and real estate firm Vornado Realty Trust recently disclosed a 16.5% and 9.9% stake each in the retailer.