Wednesday, January 16, 2013

Industry News: Decelerating

Macy's Inc. will close 6 department stores nationwide, including a store it has operated in Belmont, MA since 1978.  Macy's also plans to open 5 new Macy’s stores, 2 new Bloomingdale’s, and 1 Bloomingdales Outlet nationally, and expand or upgrade several others in the current year...Supervalu has agreed to sell its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores, and related Osco and Sav-on in-store pharmacies, to AB Acquisition LLC, a consortium of firms that includes Cerberus, Kimco Realty Corp., Klaff Realty LP, Lubert-Adler Partners, and Schottenstein Real Estate Group, in a transaction valued at $3.3 billion.

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