Despite talks, J.C. Penney has not been able to reach a deal with landlords and so lenders may wind up taking the company over.
Europe-based property management company Unibail-Rodamco has entered into an agreement to acquire U.S. mall operator Westfield. The deal, according to a Reuters report, is valued at $16 billion.
Macy’s has sold five stores to General Growth Properties. The sale is part of the retailer’s previously-announced plan to drive profitable growth by reallocating investments to its highest growth potential stores and digital businesses, and to capitalize on opportunities within the company’s real estate portfolio.
In a recent survey, consumers said they still had, on average, 44% of their holiday shopping left to do, according…