Taubman Centers is focusing on cost management, investment opportunities and supporting its core properties during the recession. The company, unlike many other mall owners, has no debt maturing this year.
Cedar Shopping Centers, in a partnership with Tristate Ventures, unveiled the $106.4 million Upland Square, a power center in Pottstown, Pa. The 686,000-square-foot center includes Bed, Bath & Beyond and Target.
Whether it's a takeover of a beleaguered competitor, a service provider you'd love to bring in-house or a totally new venture, experts agree it's a great time to be looking at acquiring companies in need of a turnaround. You'll want to work with a broker for the actual sale, writes Karen E. Klein, but be prepared to go well beyond the normal due diligence and to do the work yourself.
Abercrombie & Fitch will cut 170 jobs at its headquarters as the company looks to cut costs. Said the company's chief financial officer: "Our internal mindset is to look at how, over a medium-term time frame, we can realign our cost structure toward historic levels as a percentage of sales."
Turkey's shopping malls hope to increase revenue by 25% this year, even with a contraction in the economy. A recent report showed that the country is still attractive to investors trying to get a foothold in Eastern Europe and central Asia.