REAL ESTATE

Macy’s to anchor new full-price wing at Gurnee Mills

BY Marianne Wilson

Gurnee, Ill. — Construction has begun on a 140,000-sq.-ft. full-line Macy’s that will anchor a new full-price wing at Gurnee Mills, in Gurnee, Ill.

With the addition of the department store, which is expected to open in late summer 2013, Gurnee Mills said it will be distinguished as the first hybrid shopping destination of its kind, combining full-price, outlet and value retail all under one roof.

Macy’s is the perfect fit for Gurnee Mills as we transform this already successful property with the addition of a full-price retail wing,” said Gregg Goodman, president of The Mills.

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OPERATIONS

Selfridges named Best Department Store in the World

BY Staff Writer

London — The British department store Selfridges received the “Best Department Store in the World” award at the Global Department Store Summit in Paris.

Selfridges took the top slot amongst finalists from around the globe, including Macy’s and Woolworths (South Africa). The U.K. retailer also won the award, which is given out every two years, in 2010.

“The Selfridges brand has gone from strength to strength worldwide, and this prestigious retail award recognizes its true value as a performer and innovator,” said Galen Weston, owner of Selfridges. “The award criteria represents our highest priorities: a strong profile, successful development and execution of products, stores and service innovation strategies, delivery of outstanding in-store experiences, excellent customer service and strong financial performance.”

Selfridges operates four stores, with locations in London, Birmingham and Manchester, as well as an online business.

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OPERATIONS

It’s official: Liz Claiborne is now Fifth & Pacific

BY Staff Writer

New York — Liz Claiborne Inc. said Tuesday that it has officially changed its name to Fifth & Pacific Cos., following an initial announcement in January that it would do so.

The company sold the Liz Claiborne and Monet brands to J.C. Penney Co. in November, freeing it up to concentrate more fully on its Juicy Couture, Lucky Brand and Kate Spade labels.

“As we say a final goodbye to the iconic Liz Claiborne name, we know the time is right for a change, and we welcome our bright new future as Fifth & Pacific Companies,” CEO William McComb said in a statement.

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