Retailers are closely monitoring back-to-school sales. At J.C. Penney, for one, sales in states such as Florida and South Carolina, where the school year starts early, will inform inventory elsewhere, and back-to-school sales will determine holiday inventory.
A division of NATIXIS Real Estate Capital acquired the Summer Commons retail center in Berclair, Tenn., in a foreclosure sale for $3.5 million. The 120,000-square-foot center is anchored by Northern Tool and Equipment Co. and Save-A-Lot.
J.C. Penney introduced its new JCP Rewards program, called a work in progress by a spokeswoman, in an advertising circular last week. Shoppers can earn points and discounts, and use of a J.C. Penney's store credit card is not required.