The Commerce Department's figures for February came in better than expected. Sales fell 0.1 percent from February-less than what analysts had predicted. January sales, which had been reported as rising 1.0 percent, were revised upward to a 1.8 percent gain. Meanwhile, ICSC's numbers showed same-store sales in February dropped 0.1 percent, the best performance in six months.
Fashion industry icon Giorgio Armani is opening a new 43,000-square-foot concept store in Manhattan. “Luxury before was just an elite thing,” Armani told the Associated Press. “Now the sense of luxury is more democratic.”
Target Corp. opened 27 stores across 15 states during a coordinated opening in early March. The openings include the chain's first two locations in Hawaii.
There has been a lot of news about suspended developments. But some new projects are plowing ahead. For example, Prime Retail recently signed 17 retailers to its Prime Outlets - Livermore project outside San Francisco.
American Apparel avoided default on $16 million in debt by selling a 20 percent stake in the company to private equity firm Lion Capital.