Content about General Growth Properties

February 20, 2014

Rapid expansion of Nordstrom Rack stores and strong sales at the off price division enabled the department store retailer to exceed its fourth quarter profit forecast.

Rapid expansion of Nordstrom Rack stores and strong sales at the off price division enabled the department store retailer to exceed its fourth quarter profit forecast.

The company said same store sales at Rack increased 3.6% on top of a price year increase of 7.1% while sales at full line stores declined 3.3% after increasing 2.2% last year.

February 5, 2014

Seattle-based Nordstrom plans to open a Nordstrom Rack at Christiana Fashion Center in Newark, Del. The approximately 35,000-sq.-ft. store, which is scheduled to open in fall 2015, is the company’s first Rack location in the state.

Seattle-based Nordstrom plans to open a Nordstrom Rack at Christiana Fashion Center in Newark, Del. The approximately 35,000-sq.-ft. store, which is scheduled to open in fall 2015, is the company’s first Rack location in the state.

The single-level, newly built Nordstrom Rack is located at the intersection of Interstate 95 and Route 1, adjacent to Christiana Mall and will be surrounded by a strong tenant mix.

November 13, 2013

O’Connor Capital Partners, a privately owned, independent real estate investment, development and management firm, has named Glenn J. Rufrano as chairman and CEO.

O’Connor Capital Partners, a privately owned, independent real estate investment, development and management firm, has named Glenn J. Rufrano as chairman and CEO.

Rufrano was a founding partner of the O’Connor Group, the firm’s original incarnation, and has served on the board since 2010. He has also acquired a full partnership stake in the firm.  

November 13, 2013

O’Connor Capital Partners, a privately owned, independent real estate investment, development and management firm, has named Glenn J. Rufrano as chairman and CEO.

O’Connor Capital Partners, a privately owned, independent real estate investment, development and management firm, has named Glenn J. Rufrano as chairman and CEO.

Rufrano was a founding partner of the O’Connor Group, the firm’s original incarnation, and has served on the board since 2010. He has also acquired a full partnership stake in the firm.  

November 3, 2013

Von Maur has opened its first location in Alabama, just outside of Birmingham, at Riverchase Galleria in Hoover. The 185,000-sq.-ft. store is one of the largest locations in the country.

Von Maur has opened its first location in Alabama, just outside of Birmingham, at Riverchase Galleria in Hoover. The 185,000-sq.-ft. store is one of the largest locations in the country.

October 28, 2013

Regional department store retailer Von Maur isn’t so regional anymore following the opening of its first store in New York.

Regional department store retailer Von Maur isn’t so regional anymore following the opening of its first store in New York.

September 30, 2013

Von Maur plans to open its 29th store at Riverchase Galleria Mall in Hoover, Ala., on Nov. 2. Located just outside of Birmingham, Ala., the three-level, 185,000-sq.-ft. store will be the company's first location in Alabama as well as one of the retailer’s largest stores in the country.

Von Maur plans to open its 29th store at Riverchase Galleria Mall in Hoover, Ala., on Nov. 2. Located just outside of Birmingham, Ala., the three-level, 185,000-sq.-ft. store will be the company's first location in Alabama as well as one of the retailer’s largest stores in the country.

September 12, 2013

Online fashion subscription retailer JustFab has opened a 3,000-sq.-ft. flagship at the Glendale Galleria, Glendale, Calif. It is the company’s first physical store.

Online fashion subscription retailer JustFab has opened a 3,000-sq.-ft. flagship at the Glendale Galleria, Glendale, Calif. It is the company’s first physical store.

“We have created the global leader in fashion subscription in just three short years and will now bring our customized shopping experience into physical stores to enable customers to touch and feel our products," said co-CEO Don Dom Ressler.

September 5, 2013

The relocation of Saks Fifth Avenue’s flagship store is allowing leading retail real estate firm Simon Property Group to use the space for other purposes, and the retailer to open a two-story, 198,000-sq.-ft. space adjacent to the one it will vacate at the Houston Galleria.

HOUSTON — The relocation of Saks Fifth Avenue’s flagship store is allowing leading retail real estate firm Simon Property Group to use the space for other purposes, and the retailer to open a two-story, 198,000-sq.-ft. space adjacent to the one it will vacate at the Houston Galleria. 

August 15, 2013

Despite reporting a net income of $184 million for the second quarter, ended Aug. 3, up from $156 million in the year-ago period, Nordstrom cut its yearly forecast, citing softer-than-anticipated sales trends.

SEATTLE — Despite reporting a net income of $184 million for the second quarter, ended Aug. 3, up from $156 million in the year-ago period, Nordstrom cut its yearly forecast, citing softer-than-anticipated sales trends.

Nordstrom said revenue rose 6.4% % to $3.1 billion, short of the $3.29 billion Wall Street expected. Total company same-store sales increased 4.4%.

July 11, 2013

Japanese apparel retailer Uniqlo, a division of Fast Company, is expanding its U.S. footprint with the opening of 10 stores this fall in New York, New Jersey, Connecticut and California.

NEW YORK — Japanese apparel retailer Uniqlo, a division of Fast Company, is expanding its U.S. footprint with the opening of 10 stores this fall in New York, New Jersey, Connecticut and California.

The new locations, all in shopping centers, will bring the brand’s presence in the United States to a total of 17 sites.

May 17, 2013

Bloomingdale’s is heading to Hawaii for the first time. It plans to open a 167,000-sq.-ft., three-level store at the Ala Moana Center in Honolulu on the Island of Oahu in fall 2015.

CINCINNATI — Bloomingdale’s is heading to Hawaii for the first time. It plans to open a 167,000-sq.-ft., three-level store at the Ala Moana Center in Honolulu on the Island of Oahu in fall 2015. 

The new store will be part of a redevelopment of a portion of Ala Moana, Hawaii’s premier shopping destination, by General Growth Properties. Construction will begin in 2014. The upscale chain of department stores, owned by Macy’s, will join a Macy’s store which already operates at the shopping center.

May 17, 2013

Bloomingdale’s is heading to Hawaii for the first time. It plans to open a 167,000-sq.-ft., three-level store at the Ala Moana Center in Honolulu on the Island of Oahu in fall 2015.

CINCINNATI — Bloomingdale’s is heading to Hawaii for the first time. It plans to open a 167,000-sq.-ft., three-level store at the Ala Moana Center in Honolulu on the Island of Oahu in fall 2015. 

The new store will be part of a redevelopment of a portion of Ala Moana, Hawaii’s premier shopping destination, by General Growth Properties. Construction will begin in 2014. The upscale chain of department stores, owned by Macy’s, will join a Macy’s store which already operates at the shopping center.

March 15, 2013

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.

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.

February 22, 2013

Nordstrom Inc. on Thursday reported that its fourth-quarter profit rose 20% to $284 million, compared to $236 million a year earlier.

SEATTLE — Nordstrom Inc. on Thursday reported that its fourth-quarter profit rose 20% to $284 million, compared to $236 million a year earlier. The company also forecast further increases in same-store sales for its new fiscal year.

Revenue for the three months ended Feb. 2 rose 13.5% to $3.6 billion, from $3.17 billion. Same-store sales, which consist of the full-line and direct businesses, rose 6.3%.

January 2, 2013

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.

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.

October 1, 2012

Saks Inc. has opened its first Saks Fifth Avenue store in Kazakhstan, in the city of Almaty.

NEW YORK — Saks Inc. has opened its first Saks Fifth Avenue store in Kazakhstan, in the city of Almaty.

September 13, 2012

Nordstrom is partnering with Cadillac Fairview to open its first full-line stores in Canada beginning fall of 2014.

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.

July 11, 2012

The holiday hype has begun, and Target this week launched one of the first salvos, announcing an innovative partnership with 24 designers and the upscale department store chain Neiman Marcus.

The holiday hype has begun, and Target this week launched one of the first salvos, announcing an innovative partnership with 24 designers and the upscale department store chain Neiman Marcus.

May 29, 2012

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

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.

April 18, 2012

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

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.

April 18, 2012

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

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.

April 17, 2012

Macy's will soon have a Brazilian feel when the company debuts "O Mercado, the Market at Macy's" on April 22 in about 300 stores and online at Macys.com.

NEW YORK — Macy's will soon have a Brazilian feel when the company debuts "O Mercado, the Market at Macy's" on April 22 in about 300 stores and online at Macys.com. The company describes O Mercado as a curated shop of Brazilian products, and it is the next installation of the retailer's "Brasil: A Magical Journey" campaign, which will officially kick off on May 16.

December 12, 2011

Macy’s said Monday it has brought back its “24-hour” stores for three all-nighters beginning Dec. 21.

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.

October 6, 2011

While Kohl’s and Macy’s posted September sales growth, JCPenney had to scale its outlook back after a weaker than expected month.

MENOMONEE FALLS, Wis. PLANO, Texas and CINCINNATI – While Kohl’s and Macy’s posted September sales growth, JCPenney had to scale its outlook back after a weaker than expected month.

Kohl’s reported that sales for September increased 5.8% and comparable-store sales increased 4.1% over the same period last year.