Forever 21 to open at Hamilton Place Mall
Chattanooga, Tenn. Chattanooga, Tenn.-based CBL & Associates Properties and Charlotte, N.C.-based Belk announced that Forever 21 will join CBL’s Hamilton Place Mall in Chattanooga.
As part of Belk’s ongoing renovation of its upscale department stores at Hamilton Place, the two-story Belk Men’s and Home store is being consolidated into the lower level of the existing building, making way for the new 60,000-sq.-ft. Forever 21.
Construction on the new store will begin in October with a grand opening scheduled for early 2011.
Belk is currently conducting a $4 million renovation of its two stores at Hamilton Place that includes updates to the interior design, decor and display fixtures. The children’s department is being relocated from the Belk Men’s, Home and Kids store into the Women’s store, which will continue to house all women’s apparel, accessories and cosmetics. The juniors department will receive a major overhaul and will move from the first level to the second level of the women’s store. The remaining men’s and home departments in the men’s, home and kids store will be consolidated into the lower level of the existing building. Both stores will remain open throughout the renovation project with a grand opening scheduled for Oct. 13.
The Hamilton Place shopping complex features the 1.1 million sq.-ft. regional mall, Hamilton Place, several associated community and power centers, and a lineup of restaurants that include Mia Cucina, Bonefish Grill and Jason’s Deli.
The newest additions to the Hamilton Place shopping complex include Coach, Bare Escentuals, Ulta and Academy Sports + Outdoors.
German court approves Karstadt takeover plan
Berlin A German court has given the go-ahead for an investor to take over the country’s bankrupt Karstadt department store chain with its 25,000 employees, according to a Friday report by the Associated Press.
Karstadt has been under an insolvency administrator since parent Arcandor AG filed for protection in June 2009.
The German news agency DAPD reported that an administrative court in Essen on Friday approved a plan for financial investor Nicolas Berggruen to take over the chain. Berggruen was chosen to take over Karstadt in June but the plan then got delayed while negotiating over rent levels for its approximately 120 stores.
An agreement by the buildings’ owners to lower rents paved the way for a final deal this week, according to AP.
Duckwall-Alco same-store sales dip in August
Abilene, Kan. Duckwall-Alco Stores said late Thursday that same-store sales dipped 0.8% in August.
Total revenue rose 1.1% to $33.4 million due to improved inventory control, higher productivity and stronger marketing, said the company.