Walgreens sales dip in November
Deerfield, Ill. — Walgreen Co. reported Wednesday that sales for November dipped 3.9% to $5.85 billion, compared with $6.09 billion for the same month in fiscal 2012.
Total front-end sales decreased 0.3% and same-store front-end sales decreased 1.7%.
Walgreens opened 39 stores during November, including 10 relocations and closed one.
Simon acquires 100% ownership of two upscale outlet centers
Indianapolis — Simon Property Group said Wednesday it has acquired Paragon Outlets Grand Prairie in Grand Prairie, Texas, and Paragon Outlets Livermore Valley in Livermore, Calif.
Simon now owns 100% of each asset.
The 417,000-sq.-ft. Grand Prairie center is tenanted by Saks Fifth Avenue Off 5th, Bloomingdale’s The Outlet Store, Coach, Cole Haan, DKNY, Hugo Boss, Kate Spade New York, J.Crew, Michael Kors, Nike and Tommy Hilfiger. The center opened in August 2012 and is 100% leased.
The 512,000-sq.-ft. Livermore center features Saks Fifth Avenue Off 5th, Bloomingdale’s The Outlet Store, Last Call by Neiman Marcus, Armani, Barneys New York, Coach, DKNY, Elie Tahari, Kate Spade New York, J.Crew, Lacoste, Michael Kors, Prada and Tommy Hilfiger. The center opened in November 2012 and is 100% leased.
The centers will be renamed Grand Prairie Premium Outlets and Livermore Valley Premium Outlets.
J.C. Penney employs mannequins to fill empty space
New York — As new CEO Ron Johnson works to transition the “old” J.C. Penney into a new era filled with shop-in-shops, he and his team have devised a way to keep the store looking fresh during the changeover: they use a lot of mannequins.
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