REAL ESTATE

JC’s 5 Star Outlet going out of business

BY Dan Berthiaume

Columbus, Ohio — JC’s 5 Star Outlet, formerly the outlet store division of J.C. Penney, is winding down operations and closing its 15 stores. "Going out of business" sales will start Wednesday, offering shoppers deeper discounts than the usual outlet prices of 25% to 75% off retail.

The 5 Star Outlet stores, which had been designated for closure by J.C. Penney, were acquired by SB Acquisitions in October 2011, and rebranded JC’s 5 Star Outlet.

Glen Gammons, the former head of the JCPenney Outlet Store Division, and CEO of JC’s 5 Star Outlet, said closing the stores was a painful decision.

"The closing of the Outlets was necessitated by the precipitous decline of sales," Gammons said. "After exploring all the alternatives, we could no longer incur the losses resulting from the continued operation of the Outlet stores."

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
REAL ESTATE

Nordstrom Rack to make Philadelphia debut

BY Dan Berthiaume

Seattle — Nordstrom Rack will make its Philadelphia debut, opening an approximately 39,000-sq.-ft. store on Chestnut Street in fall 2014. The property is owned and managed by JEMB Realty Corp.

The new Nordstrom Rack will move into a completely renovated space that was originally home to department store Bonwit Teller and was most recently held by Daffy’s. The store will occupy the first three floors of the historic, eight-story building.

"We’re thrilled to be opening a Nordstrom Rack in this fantastic location on Chestnut Street," said Geevy Thomas, president of Nordstrom Rack. "We intend to bring our very best — exciting fashion from brands our customers love at great prices — to make the most of this opportunity to serve customers at the heart of Center City."

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
OPERATIONS

Neiman Marcus offers permanent free online shipping, returns

BY Dan Berthiaume

Dallas – Neiman Marcus Group is offering free standard shipping and returns for all domestic purchases made online through Neimanmarcus.com and Bergdorfgoodman.com as well as Neiman Marcus and Bergdorf Goodman stores.

"The customer has always been at the center of the Neiman Marcus business model. Permanent free shipping and returns have been a top request and we are happy to be able to make this change just in time for the holiday shopping season." said Wanda Gierhart, chief marketing officer, Neiman Marcus Group.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...