General Growth Management will manage Chicago's Northgate Mall and Cherokee Square Shopping Center. Northgate Mall includes 205,000 square feet and has Big Lots and J.C. Penney as anchors; Cherokee Square is a 76,000-square-foot open-air shopping center.
Foot Locker has named J.C. Penney President Ken C. Hicks as CEO. Hicks has served as president of J.C. Penney since 2005. "It is rare that an opportunity to lead an international specialty retailer like Foot Locker arises," Hicks said.
Taubman Centers is proud of its identity as a luxury-mall owner, even if luxury spending is down during the recession, says Robert Taubman, chairman and CEO. "We believe for thousands of years people have been trying to differentiate themselves either through fashion or through higher-quality goods," he said.
J.C. Penney is exploring opportunities related to industry consolidation despite slowing new-store openings in 2009. The retailer is on track with plans to open 64 additional in-store Sephora boutiques this year.