Mostly Cloudy 19°
Tag:

Simon Property Group

Business
Mall Brand Merger: JCPenney Unites With Forever 21, Aeropostale, Brooks Brothers Operator Mall Brand Merger: JCPenney Unites With Forever 21, Aeropostale, Brooks Brothers Operator
Mall Brand Merger: JCPenney Unites With Forever 21, Aeropostale, Brooks Brothers Operator JCPenney is merging with a company that owns several other retailers that have also struggled as malls have declined in popularity across the U.S. The 123-year-old department store chain and SPARC Group have combined to form Catalyst Brands, the new company said in a news release on Wednesday, Jan. 8. SPARC Group is the operator of stores including Aéropostale, Brooks Brothers, Eddie Bauer, Forever 21, Lucky Brand, and Nautica. Former JCPenney CEO Marc Rosen will become the CEO of Catalyst Brands, which boasts more than $9 billion of revenue and about 60,000 employees at …

SHARE

by Chris Spiker
Business
New Jersey's Last-Standing Sears Store Says It's Closing New Jersey's Last-Standing Sears Store Says It's Closing
New Jersey's Last-Standing Sears Store Says It's Closing And then there were none. New Jersey's last-standing Sears store, located in Jersey City, appears to be closing. The store at Newport Centre announced a store closing sale on Friday evening, Jan. 5 on Facebook. A voice answering service said the store was closed when Daily Voice called Friday at 7 p.m. Daily Voice has reached out to the Simon Property Group, who owns Newport Centre, and Sears corporate for comment. Sears Holdings filed for bankruptcy in 2018. The Jersey City store became the final Sears in New Jersey in 2020 after the store in Hackensack — a local landmark — shutter…

SHARE

by Cecilia Levine
Real Estate
Garden State Plaza Is 9th Most Lucrative Mall In The U.S. Garden State Plaza Is 9th Most Lucrative Mall In The U.S.
Garden State Plaza Is 9th Most Lucrative Mall In The U.S. PARAMUS, N.J. -- A new study by boutique research firm Boenning & Scattergood for CNBC found that Westfield's Garden State Plaza is among the top 10 most lucrative in the U.S. The 20 most valuable malls in the country owned by real estate investment trusts bring make nearly $21 billion in retail sales a year, the study says. Paramus' own Garden State Plaza is the ninth most lucrative in the U.S., has a total asset value of $2.71 billion a year, according to Boenning & Scattergood. The mall has $950 per square foot. The Woodbury Commons in Central Valley, N.Y. comes in at No. 4 on t…

SHARE

by Cecilia Levine