Content about General Growth Properties

SARASOTA, Fla. — Saks Fifth Avenue has revealed more details about its new two-level, 80,000 sq. ft. store in The Mall at University Town Center in Sarasota, Fla., which is presently under construction at the intersection of I-75 and University Parkway. The Mall at University Town Center is being co-developed by Taubman Centers and Benderson Development and is scheduled to open Oct. 16, 2014.

SEATTLE — Nordstrom plans to open another new Rack store this spring in Maine as the number of off price locations now exceeds the company’s full price stores.

The approximately 30,000-sq.-ft. store at Maine Crossing Shopping Center will be its first location in the state, and is scheduled to open this spring.

TORONTO — Nordstrom is partnering with Cadillac Fairview to open its first full-line stores in Canada beginning fall of 2014. The company will lease four stores at premier shopping centres located in Calgary, Ottawa, Toronto and Vancouver.

Nordstrom will be moving into space that will be vacated by Sears and then renovated at Pacific Centre in Vancouver, Calgary's Chinook Centre, Rideau Centre in Ottawa, with a new-construction store opening in Toronto's Sherway Gardens.

DALLAS — Neiman Marcus is rebranding its contemporary departments within each of the 42 Neiman Marcus stores as Cusp shop-in-shops. 

Neiman Marcus first launched the Cusp brand in 2006 with two freestanding stores that offered customers a contemporary assortment including apparel, shoes, handbags and accessories in a boutique environment. The brand has grown over time and now includes a total of six Cusp stores and Cusp.com.

HOFFMAN ESTATES, Ill. — Sears Holdings Corp. said Tuesday that it completed the $270 million sale of 11 full-line Sears store locations to General Growth Properties.

Sears said the stores will continue to operate as Sears locations into 2013 or 2014, with final closing dates to be announced later this year. The stores are in Florida, Hawaii, Illinois, Iowa, Minnesota, Oklahoma, Texas, Utah and Washington.

Sears announced in December it would close between 100 and 120 stores to raise cash after a disappointing holiday season.

NEW YORK — Macy’s said Monday it has brought back its “24-hour” stores for three all-nighters beginning Dec. 21. Starting at 7 a.m., 14 Macy’s stores will stay open for 83 hours straight for non-stop shopping until Christmas Eve on Dec. 24 at 6 p.m.

Another 27 Macy’s stores will stay open until 2 a.m. on those same three nights.

CINCINNATI, MENOMONEE FALLS, Wis., and PLANO, Texas — Macy’s emerged as the big winner among department-store retailers this July, reporting sales growth that exceeded expectations. JCPenney also faired well for July, while Kohl’s sales disappointed. 

Macy’s Inc. reported total sales of $1.6 billion for the four weeks ended July 30, an increase of 5% compared with total sales of $1.525 billion in the four weeks ended July 31, 2010. On a same-store basis, Macy’s Inc. sales were up 5% in July.