Sears and Kmart to open on Thanksgiving
Hoffman Estates, Ill. — Sears Holdings announced that both Sears and Kmart stores will be open on Thanksgiving Day. The company said its made the decision based in part on feedback from members of its Shop Your Way loyalty program, who sought more flexible Black Friday in-store shopping times and eagerness to shop doorbuster deals.
Sears stores will open at 8 p.m. local time on Thanksgiving Day and stay open overnight until 10 p.m. on Black Friday. Kmart stores will be open from 6 a.m. local time until 4 p.m. and from 8 p.m. to 3 a.m. on Thanksgiving Day, and reopen from 5 a.m. to 11 p.m. on Black Friday.
Destination Maternity announces new credit facility
Philadelphia — Destination Maternity Corp. announced that it has entered into a new $61 million revolving credit facility with Wells Fargo Bank, N.A.
The new credit facility replaces the retailer’s $55 million revolving credit facility with Bank of America, N.A., which was due to mature on January 13, 2013.
First new outlet center in California since 2001 to open Nov. 8
Livermore, Calif. — Paragon Outlets Livermore Valley, the first new outlet center to open in California since 2001, will hold its grand opening weekend celebration Nov. 8 through Nov 11.
Developed by Paragon Outlet Partners, a commercial real estate development firm headquartered in Baltimore, the $150 million, 543,000-sq.-ft. outlet center will feature 130 leading designer and top brand name stores.
"Paragon Outlets Livermore Valley is one of only five outlet centers that will open in the United States this year," said Paragon Outlet Partners principal Robert A. Brvenik.