Friday, January 15, 2021

Nordstrom Saw Digital Gains Over the Holidays As COVID Hurt Brick-and-Mortar Business

Footwear News
Sales at Nordstrom Inc. took a tumble during the holiday shopping season, but the retailer’s digital business continues to pick up more shoppers. . . . more

Thursday, January 14, 2021

Tuesday, January 12, 2021

PREIT’S re-make of its mall platform will begin at Moorestown

CSA
The re-invention of its business platform that helped win PREIT a swift exit from Chapter 11 protection in December will see one of its first executions at Moorestown Mall in the Philadelphia metro area. . . . more

Monday, January 11, 2021

Westfield sells Long Island mall for $30 million

CSA
Sunrise Mall, the first two-level mall in Long Island when it opened in 1972, was sold by Unibail Rodamco Westfield for $29.7 million. Westfield paid $140 million for the 1.2 million-sq. ft. property when it acquired it in 2005. . . . more 

Friday, January 8, 2021

Mall of America is no longer delinquent on $1.4 billion mortgage

CNBC
Mall of America has modified the terms of its $1.4 billion mortgage and is current on the loan, after missing months of payments during the Covid crisis as stores shut temporarily and tenants failed to pay rent. . . . more

Thursday, January 7, 2021

Victoria’s Secret parent reports robust holiday sales; offers upbeat guidance

CSA
L Brands reported holiday sales that beat its expectations, boosted by another strong performance from Bath & Body Works. . . more

Wednesday, January 6, 2021

Will Shopping Malls Make a Comeback in 2021?

Footwear News
Suffice it to say, 2020 was hardly anybody’s year. When it comes to business, shopping malls — with their enclosed spaces and classification as nonessential retail — are among the retail categories that faced the most pressure. . . . more

Macy’s to close 45 stores by mid-year as part of previously announced plan

CSA
Macy’s to close 45 stores by mid-year as part of previously announced plan. . . more

Tuesday, January 5, 2021

Ex-Simon Outlets chief Yalof takes the helm of Tanger Outlets

CSA
Stephen Yalof, who directed Simon’s Premium Outlets division for six years before joining Tanger Factory Outlets as COO, has transitioned into the CEO spot at the company. He replaces Stephen B. Tanger, now chairman of Tanger’s board of directors. . . more

Epic Games to convert North Carolina shopping mall into new global headquarters by 2024

Fox Business
Epic Games has reached an agreement with Turnbridge Equities and Denali Properties to purchase North Carolina's Cary Towne Center. . . more

Monday, January 4, 2021

Simon’s Taubman acquisition is made final

CSA
Simon Property Group has completed its purchase of 80% of Taubman Realty Group. . . more