Edward Lampert, chairman of Sears, said the company is prepared to weather upcoming challenges. Sears is reducing its own debt and working to improve the relevancy of the shopping experience, especially online, he said.
A store co-branded by Nike and Finish Line was scheduled to open today in Chandler, Ariz. Finish Line Ltd. is Nike's second in a series of co-branded concept stores designed to target specific customer types.
Turkish bazaars featuring colorful merchandise sold in alleyway shops are losing popularity among the country's youthful, wealthy middle class. Shopping malls are rapidly taking over the retail scene in Istanbul, prompting some concerns about flooding the market with new retail projects.
Colonial Properties Trust has broken ground on the $200 million Colonial Pinnacle Nord du Lac center in Covington, La., outside New Orleans. The 1-million-square-foot center is expected to open in October 2009.
Crosland LLC has broken ground on Blakeney Crossing, the retail component of the Blakeney mixed-use project in Charlotte, N.C. The 87,000-square-foot retail center will be anchored by Best Buy and PetSmart.