FINANCE

RILA responds to tax package nod

BY CSA STAFF

Arlington, Va. — The Retail Industry Leaders Association said Friday that it applauds the final passage of a bipartisan agreement for extending critical individual and business taxes.

“RILA applauds lawmakers in both the House and Senate for acting to provide tax relief for both businesses and consumers,” said RILA executive VP for public affairs Katherine Lugar, in response to House passage of the 2010 Tax Relief Act. “Those who negotiated and supported the final package of tax cuts deserve credit for preventing an enormous tax increase on millions of taxpayers and job creators.”

RILA emphasized that the tax package is good news for retailers heading into the New Year. “With the President’s signature, this package will put money back in the pockets of consumers and end the uncertainty many job providers were facing regarding their tax liabilities in 2011,” said Lugar.

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REAL ESTATE

Disney prototype opens at Cherry Hill Mall

BY CSA STAFF

Cherry Hill, N.J. — Philadelphia-based Pennsylvania Real Estate Investment Trust (PREIT) said Friday that The Disney Store has opened at its Cherry Hill Mall in Cherry Hill, N.J., just one of 20 prototypical Disney stores to open worldwide this year.

The 4,744-sq.-ft. retailer, complete with a glittering “pixie dust” trail, magical trees and a customized skyline, is located near Macy’s Court.

The new Disney Store features an array of interactive technology, from a Disney Princess Castle with a magical mirror that allows children to be part of a special story with the wave of a wand, to the Disney Store Theater, where kids can watch animated features on a 12-ft. screen.

The store opening is part of the mall’s $200-million complete renaissance, which includes the addition of white-linen restaurants, a new parking deck, the addition of an upscale retail wing, a redesigned and relocated food court and extensive interior and exterior renovations.

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FINANCE

Best Buy expands health and fitness offerings

BY CSA STAFF

Minnepolis — Best Buy Co. said Friday it is expanding its health-and-wellness offerings to 600 stores nationwide.

The products, which include heart-rate monitoring watches, pedometers, yoga mats, scales and blood pressure monitors, have been tested by Best Buy in 40 stores in multiple markets and will now undergo rollout.

In its most recent quarter, Best Buy’s net income fell 4%, and revenue dipped 1% to $217 million.

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