REAL ESTATE

Three Rouse malls work with Square for POS solution

BY Staff Writer

New York — Rouse Properties announced that three of its Bay Area shopping mall locations – NewPark Mall in Newark, Calif., Southland Mall in Hayward, Calif. And West Valley Mall in Tracy, Calif. – are launching a one-month pilot program to offer common area small business retailers a convenient and cost-effective point-of-sale solution.

According to Andrew Silberfein, president and CEO of Rouse Properties, "Working with Square is a prime example of our continuous efforts to align ourselves with innovative companies that offer value-added services to help enhance the shopping experience at our malls for both consumers and retailers.”

The technology that Square offers is a free credit card reader for the iPhone, iPad and Android devices, allowing anyone to accept credit cards. Participating retailers plug the credit card reader into their mobile device and swipe to process a transaction.

Square first introduced its free credit card reader in 2010. Rouse Properties said it plans to roll out the Square service to its entire portfolio of 31 malls later this year.

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News

Walgreens, Alliance Boots form new jointly owned company: Walgreens Boots Alliance Development

BY CSA STAFF

DEERFIELD, Ill. — Walgreens has formally set up a new company, jointly owned with Alliance Boots, as part of their strategic partnership’s synergy program.

The new company, called Walgreens Boots Alliance Development, will be based in Bern, Switzerland.

No other details were released.

Walgreens and Alliance Boots first announced their proposed acquisition strategy in June and last month named CFO Wade Miquelon to an expanded and global leadership role as president of value creation services and international division. In that capacity, Miquelon serves as Wasson’s senior leader in collaborating with Alliance Boots management team to execute the new global strategic partnership.

At the time, Walgreens also named Robert Zimmerman, SVP international and international chief administration officer, as the lead executive for the Walgreens-Alliance Boots’ "synergy team." Former Wellpoint senior executive Brad Fluegel assumed the role of chief strategy officer at Walgreens.

As part of the Alliance Boots announcement in June, Walgreens stated that it expects combined synergies across both companies of between $100 million and $150 million in the first year and $1 billion by the end of 2016. To carry out a focused effort to capture those synergies, the company is setting up six new “global synergy teams” in Miquelon’s new organization that will work closely with Alliance Boots.

By 2016, the deal is projected to transform Walgreens from a $72 billion operator — with two-thirds of its revenue coming from its U.S. pharmacy business — to a $130 billion global health-and-wellness player.


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REAL ESTATE

Emporio Armani, Giorgio Armani, Stuart Weitzman join Mall at Short Hills

BY Staff Writer

Short Hills, N.J. — Bloomfield Hills, Mich.-based Taubman Centers said that five fashion and accessory boutiques will join its Mall at Short Hills property in Short Hills, N.J.

Emporio Armani, Giorgio Armani, Stuart Weitzman, Thomas Pink and Tourbillon are opening this fall in the luxury center, with four out of the five making their New Jersey debut.

Emporio Armani opened this fall, as did Giorgio Armani and Stuart Weitzman. British shirt maker Thomas Pink will open this fall on the upper level near Saks Fifth Avenue, and Tourbillon will also open this fall with a luxury timepiece boutique.

The Mall at Short Hills is anchored by Bloomingdale’s, Macy’s, Neiman Marcus, Nordstrom and Saks Fifth Avenue.

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