Macy’s New CEO Takes Over

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Macy’s, the nation’s largest department store chain, has a new Chief Executive Officer. Jeff Gennette was voted unanimously by Macy’s Board of Directors as the new CEO. He has been President of the company since 2014. Gennette succeeds Terry Lundgren, who will continue as Macy’s executive chairman. Macy’s operates over 700 department stores under the …

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Target to Open First Store in Midtown

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NEW YORK — Target is planning to open a 43,000 square foot  store in Manhattan’s Herald Square, located just west of the 34th Street and Broadway intersection, just one block from Penn Station and one of the most highly-trafficked areas in the city. Target has signed a lease for the Herald Square small-format store with …

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Foot Locker Partners With WWE

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NEW YORK — Sneaker retailer Foot Locker, Inc. (NYSE: FL) has formed a partnership with WWE to bring limited-edition footwear and apparel to select Foot Locker stores around the country. For its first WWE product launch, Foot Locker will release a collection of Puma product designed by Alexander-John, featuring exclusive art of six WWE Legends: …

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LINE FRIENDS Signs Lease for 1515 Broadway

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NEW YORK — SL Green Realty Corp. (NYSE:SLG), New York City’s largest commercial landlord, has signed a 10-year, 4,629-square-foot lease with LINE FRIENDS for a portion of the retail space at 1515 Broadway in Times Square. LINE FRIENDS is one of the world’s fastest growing character brands. Opening in July, this will be the first …

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JCPenney Closing 138 Stores

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The J. C. Penney Company plans to close 138 stores, one supply chain facility in Lakeland, FL, and relocate one supply chain facility in Buena Park, CA. Three stores in NY state are among the list for closure. They include the JCPenney at Palisades Center in West Nyack and the location at Westfield Sunrise Mall …

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Victoria’s Secret Launches Dream Bra Collection

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NEW YORK — Victoria’s Secret has introduced the new Dream Angels bra collection this month in New York City. Victoria’s Secret Angels Stella Maxwell and Romee Strijd  (photo above) celebrated the new collection at the Victoria’s Secret Fifth Avenue flagship store, where they also revealed an in-store Angel Wing Art installation by international street artist, …

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Barnes & Noble Sales Drop 8%

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NEW YORK — Barnes & Noble, Inc. (NYSE:BKS), the nation’s largest bookstore chain, reported sales and earnings for its fiscal 2017 third quarter ended January 28, 2017. Total sales for the third quarter were $1.3 billion, down 8.0% compared to the prior year. Retail sales, which include Barnes & Noble stores and BN.com, declined 7.5% …

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Saks Unveils Downtown Men’s Store

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NEW YORK — Saks Fifth Avenue has unveiled its newest store and third New York City location, Saks Downtown Men’s. The 16,000-square-foot store is located at 250 Vesey Street at the northern end of Brookfield Place in lower Manhattan, and is dedicated to men’s categories with a strong focus on modern fashion along with a …

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Dick’s Sporting Goods to Open in Queens

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DICK’S Sporting Goods, the largest U.S.-based sporting goods retailer, will be opening five new stores during the second week in March, including a new location in the Glendale area of Queens. In the Queens store, DICK’S will celebrate the grand opening of one of the former Sports Authority locations that the Company took over late …

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J.C. Penney to Close Up to 140 Stores

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PLANO, TX — The woes of retail continue. The J. C. Penney Company is looking to close stores in a bid to return to profitablity. Under an announced restructuring plan, the Company expects to close two distribution facilities and approximately 130 – 140 stores over the next few months. J.C. Penney is also offering early …

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L Brands Sinks on Earnings Report

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L Brands, parent company of the Victoria’s Secret and Bath and Body Works chains, saw its shares plunge Thursday after reporting fourth-quarter earnings. Net sales for the fourth quarter ended Jan. 28, 2017, were $4.489 billion, an increase of 2 percent compared to $4.395 billion for the quarter ended Jan. 30, 2016. Comparable sales for …

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FreshDirect Said it Had Record Revenues in 2016

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NEW YORK — FreshDirect, an online food retailer based in Long Island City, said it had record revenues for 2016 but didn’t release actual numbers. FreshDirect delivers to customers in five states, including the New York City and Philadelphia metropolitan areas. Company highlights for 2016 included: Closed a $189 million investment round led by J.P. …

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Ralph Lauren CEO Steps Down

NEW YORK — Ralph Lauren Corporation (NYSE:RL) announced that Stefan Larsson, President and Chief Executive Officer, will leave the Company on May 1. A search for a new Chief Executive Officer is underway. The Company said Chief Financial Officer Jane Nielsen will lead the company until a new CEO takes over. In its third quarter …

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