Exclusive: An evolving retail landscape shows signs of life
New York City — Chain Store Age columnist Jeff Green, in his latest piece “On the Upswing?”, observes that there are three broad categories of retail driving the current expansion buzz.
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American Eagle debuts in three international markets
Pittsburgh — American Eagle Outfitters announced Wednesday that it has opened stores in three new international markets — Morocco, Jordan and Egypt.
The company said it also opened its third store in Saudi Arabia, and has plans for a second store in Lebanon in early 2012. The retailer currently operates in Egypt, Jordan, Kuwait, Lebanon, Morocco, Saudi Arabia, and the UAE through its franchise partner, M.H. Alshaya.
American Eagle Outfitters opened in Jordan on Nov. 30 in Taj Mall. Morocco’s store opened in Casablanca at Morocco Mall on December 1. The Egypt store is located in Cairo’s City Stars Mall, and opened on Dec. 10.
The partnership with Alshaya, signed in May 2009, was AEO’s first foray into brick-and-mortar stores outside of North America. Since then, AEO has opened stores in Russia, China and Hong Kong, and signed franchise agreements for stores in Japan and Israel as well, working with various franchise partners.
General Growth approves spinoff of Rouse properties
Chicago –General Growth Properties said its board approved the spinoff of its Rouse Properties Inc. subsidiary, to consist of 30 regional shopping centers in 19 states.
The separation will be completed through a pro rata taxable dividend on Jan. 12, to stockholders of record as of the close of U.S. exchanges on Dec. 30, Chicago-based General Growth said today in a statement.