Starbucks settles suit with mall giant over Teavana stores

The months-long bitter battle between Starbucks’ Teavana chain and the country’s No. 1 mall operator is over — with the java joint’s tea chain winning the right to shutter some of its stores. Simon Property Group sued Starbucks last August to keep it from closing 77 Teavana stores in

Victoria’s Secret may be losing its mojo

Victoria’s Secret is just not hot anymore. As most retailers sprouted signs of new life during the crucial holiday season, L Brands, which owns the lingerie company, said same-store sales for Victoria’s Secret actually declined by 1 percent in December. The company’s total sales, which include Bath & Body Works

Retailers finally get a Santa Claus rally as sales surge

Santa Claus finally came for retailers this year — and Wall Street couldn’t be happier to see him. After a brutal 2017 marked by store closings and dwindling traffic at shopping malls, retailers rang up a 4.9 percent holiday sales gain — the largest year-over-year increase since 2011, according

Mall giant GGP rejects buyout offer from Brookfield

GGP, one of the largest owners and operators of US shopping centers, has rejected a $14.8 billion buyout offer from its biggest shareholder, Brookfield Property Partners, people familiar with the matter said on Sunday. Brookfield Property made a $23-per-share cash and stock offer last month for the 66 percent

Saks Fifth Avenue owner admits summer layoffs sparked chaos

The owner of Saks Fifth Avenue got a little too happy swinging the ax this summer. Hudson’s Bay Co., which also owns Lord & Taylor, admitted Wednesday a June bloodbath that claimed 2,000 workers threw its operations into chaos this fall, hitting sales online particularly hard. HBC shares were recently

Off-duty officer shoots theft suspect at Texas mall: police

ARLINGTON, Texas — Police say an off-duty officer shot a suspected shoplifter near the food court at a busy Dallas-area shopping mall. Arlington police spokesman Lt. Christopher Cook tells WFAA-TV the incident occurred late Sunday afternoon after a theft was reported at a store inside The Parks at Arlington

Shots reported at upstate New York mall

Shots were fired in an upstate New York mall on Sunday afternoon, state police confirmed. State police evacuated parts of Middletown’s Crystal Run Galleria around 3:30 p.m. after reports of shots fired. Police say they do not believe this is an active shooter situation, News 12 Hudson Valley reports. Police are

JC Penney shares surge on surprisingly strong sales

JC Penney reported an increase in third-quarter same-store sales that was twice what analysts expected, sending its shares up 15 percent in premarket trading on Friday. The retailer said comparable sales rose 1.7 percent, compared with the 0.6 percent to 0.8 percent it had forecast last month. Analysts on

Macy’s profits better than expected despite revenue drop

Macy’s reported a bigger-than-expected drop in third-quarter comparable store sales on Thursday, but managed to grow margins and topped earnings estimates by keeping a tight hold on inventory. Department stores have been struggling with declining mall traffic and tough competition from off-price retailers and Amazon. In response, Macy’s has

Plus-size retailer to shrink as mall traffic declines

A decline in mall traffic in recent years is forcing yet another apparel retailer to retrench. Plus-size retailer Fashion to Figure, a 26-store chain with locations along the East Coast, plans to shutter as many as 10 locations after the holiday shopping season, Chief Executive Michael Kaplan told The Post. The big

Plus-size retailer to shrink as mall traffic declines

A decline in mall traffic in recent years is forcing yet another apparel retailer to retrench. Plus-size retailer Fashion to Figure, a 26-store chain with locations along the East Coast, plans to shutter as many as 10 locations after the holiday shopping season, Chief Executive Michael Kaplan told The Post. The big

WeWork is buying Lord & Taylor’s Fifth Avenue flagship

Lord & Taylor’s flagship store on Fifth Avenue is getting sold to WeWork, the New York-based tech unicorn that markets shared office space. Hudson’s Bay, the owner of Lord & Taylor and Saks Fifth Avenue, is selling the century-old Lord & Taylor flagship for $850 million, the companies announced on Tuesday. WeWork

ISIS sympathizer faces charges for plot to bomb Miami mall

MIAMI — A Florida man who described himself as a sympathizer of the Islamic State extremist group faces terrorism-related charges stemming from a purported plot to bomb a Miami-area shopping mall, according to court documents filed Monday. Vicente Adolfo Solano, 53, appeared at a brief hearing Monday afternoon on a charge

Plus-size retailer to shrink as mall traffic declines

A decline in mall traffic in recent years is forcing yet another apparel retailer to retrench. Plus-size retailer Fashion to Figure, a 26-store chain with locations along the East Coast, plans to shutter as many as 10 locations after the holiday shopping season, Chief Executive Michael Kaplan told The Post. The big

Abercrombie shares surge nearly 20 percent

Abercrombie & Fitch posted a much smaller than expected quarterly loss on Thursday, helped by robust demand for its Hollister brand, sending the company’s shares soaring nearly 20 percent. Hollister, the retailer’s California beach-themed brand of surfwear, reported a 5 percent rise in comparable sales in the second quarter ended July

Sears to close more stores as sales continue to tumble

Sears reported a quarterly loss on Thursday as fewer customers visited its stores and as the company offered more discounts amid intense industry competition. The retailer also said it would close 28 Kmart stores later this year, in addition to the 150 Sears and Kmart stores it plans to close by

Macy’s taps former eBay exec as new president

Macy’s said it has tapped a former eBay executive as its new president while its restructures its merchandising operations in moves that could result in about 100 job cuts. The department store chain said Hal Lawton, formerly of eBay, will become president reporting to Chief Executive Jeff Gennette, effective Sept. 8. Macy’s

Outlet malls could finally open in New York City

Upstate outlets giant Woodbury Commons monopolized the region by refusing to allow tenants to also enter into deals in New York City — a shady set-up that cost it nearly $1 million in fines, state officials said on Monday. “No business should be allowed to stifle an entire industry at the

JC Penney stock hits an all-time low

JC Penney shares hit an all-time low Friday after the department store chain reported a bigger-than-expected quarterly loss, stoking anxiety on Wall Street about the future of shopping malls. Penney’s stock dropped as low was $3.85 in Friday morning trades, the lowest level since the company went public in 1978. Shares

Ralph Lauren’s stock up as preppy label reins in discounts

Ralph Lauren reported better-than-expected quarterly profit and sales as the luxury apparel maker kept a tight leash on discounting and inventory, sending its shares up 5 percent in premarket trading. Ralph Lauren, like other US apparel chains, has been struggling with weak sales due to sluggish spending on clothing and accessories

Ralph Lauren’s stock up as preppy label reins in discounts

Ralph Lauren reported better-than-expected quarterly profit and sales as the luxury apparel maker kept a tight leash on discounting and inventory, sending its shares up 5 percent in premarket trading. Ralph Lauren, like other US apparel chains, has been struggling with weak sales due to sluggish spending on clothing and accessories

Tanger feeling the pain from failing shopping malls

It’s official: the shopping mall crisis has hit the outlets. Tanger Factory Outlet Centers said Wednesday that weakness at its 43 shopping centers will keep it from raising rents this year. The announcement seemed to surprise Wall Street, which sent Tanger shares down 4 percent, to $25.97. The stock is down 27

Malls are trying to woo back shoppers with fun activities

US malls are raising the curtain on their second act. Fed up with watching their apparel chains, department stores and electronics locations go dark as Amazon steals their sales and traffic, malls from coast to coast are signing leases with entertainment and experiential businesses to woo back shoppers — and the

Chaos as Brooklyn shopping mall evacuated after gunshot

A huge Brooklyn shopping mall was briefly evacuated after a gunman fired at least one shot Saturday evening, police said. No one was hit by the bullet, fired during a dispute on the first floor of the Kings Plaza Center in Mill Basin around 6 p.m.. The shooter fled down the block,

The latest victim in the retail apocalypse? Outlet malls

Et tu, outlet malls? After years of being seemingly insulated from the ills affecting department stores, the country’s 200-plus outlet malls are starting to show signs of strain. Tanger Factory Outlet Centers, which owns 43 centers in 22 states and is the largest publicly traded pure-play outlet operator in the US, is

The latest victim in the retail apocalypse? Outlet malls

Et tu, outlet malls? After years of being seemingly insulated from the ills affecting department stores, the country’s 200-plus outlet malls are starting to show signs of strain. Tanger Factory Outlet Centers, which owns 43 centers in 22 states and is the largest publicly traded pure-play outlet operator in the US, is

Getaway driver in fatal mall carjacking gets life in prison

The getaway driver in​ a botched 2013 ​New Jersey ​shopping ​mall carjacking that left a Hoboken lawyer dead was sentenced to life in prison Monday, as his heartbroken widow described how her life has been “permanently altered” by the shooting. Basim Henry, 36, received the maximum sentence — life in prison

Sears Canada files for bankruptcy protection

Sears Canada filed for bankruptcy protection on Thursday, saying 44 of its 200-plus store locations will shutter and nearly 3,000 employees will be laid off at the stores and at its Toronto headquarters. The retailer said it hopes to exit bankruptcy protection “as soon as possible in 2017,” as it blamed