Friday, November 21, 2014

National News

October comparable-store sales posted a year-over-year gain of 4.1% based on the ICSC’s final tally of 11 retail chains that report monthly sales. L Brands was up 6.0%, Gap was flat, Rite Aid was up 5.1%, Walgreen’s rose 1.7%, and Costco gained 6.0%. See our sales report below...Simon Property Group Inc., the biggest US mall owner, has accumulated a 3.6% stake in rival Macerich Co. Simon bought 5.71 million shares of Macerich this year and may request that Macerich waive its excess share provision, which restricts stock ownership to 5%...Walgreen laid off about 16 in-house real estate managers in a cost-cutting move, bringing in Texas brokerage SRS Real Estate Partners to handle the company's growing store portfolio.

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