For mega-mall operators ‘makeovers’ is the name of the game
October 24, 2011
Shopping center operators, such as DDR Corp., that manage a sizeable portfolio of malls are looking more toward remodeling existing properties rather than building new ones from scratch — a trend that will likely stick for the next two or three years, John Kokinchak, senior executive vice president of the company told News is my Business in a recent interview.
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$25M Walmart Supercenter planned for Toa Baja
October 19, 2011
Walmart Puerto Rico is pushing forward with its expansion plans on the island, revealing plans to build a Supercenter in Toa Baja entailing a $25 million investment.
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DDR pumping $50M to redevelop 4 island malls
October 17, 2011
DDR Corp. announced Monday plans to redevelop four shopping centers in Puerto Rico – Plaza del Sol and Rexville Plaza in Bayamon, Plaza del Norte in Hatillo and Plaza Escorial in Carolina, at a cost of $50 million.
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Walmart’s Humacao store undergoing $11M expansion
October 13, 2011
Walmart Puerto Rico is investing $11 million to add 30,000 square feet of new space to the Humacao store that anchors the eastern town’s Plaza Palma Real mall, company officials confirmed Wednesday. The remodeled store will be re-inaugurated Dec. 8.
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4 new retailers join Ponce’s Plaza del Caribe mall, CompUSA opening 2nd local store
October 7, 2011
Plaza del Caribe Mall in Ponce will wrap up 2011 with four new tenants, including the second CompUSA location on the island, mall executives announced Thursday.
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Rigual closes after 61 years in business, drags $5M in debt
October 6, 2011
The list of once thriving companies dragged under by Puerto Rico's long-running recession and the tightening of the bank credit spigot keeps growing longer. The recent demise of Rigual Inc., a popular wholesale/retailer of floral and party supplies based in a quiet San Juan neighborhood for 61 years, is just one more example of how the ongoing economic climate can undo decades of success and hard work by management and employees.
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Victoria’s Secret’s arrival about 6 weeks away
October 5, 2011
Puerto Rico’s first Victoria’s Secret location will open in about six weeks, capping years of anticipation for the retailer’s arrival. The buzz is that the nearly 14,000 square-foot store will go “live” Nov. 17.
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‘Coupon-clipping’ trend gets boost from retailers, manufacturers
October 3, 2011
In the last month, two major health and home care product manufacturers have joined forces with retailers to distribute a pair of glossy catalogs including hundreds of dollars worth of discount coupons, further fueling their use in Puerto Rico, where consumers have been feeling the pinch of relentless cost of living increases.
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Plaza Las Américas submits highest bid for Borders lease
September 13, 2011
A day before the last of the remaining Borders stores on the island is slated to close, Plaza Las Américas confirmed it has submitted the highest bid for the 34,000 square-foot prime location in the Hato Rey mall.
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Plaza Las Américas makes a move for Borders’ location
September 7, 2011
Plaza Las Américas will submit an offer before the U.S. Bankruptcy Court for the Southern District of New York to retain the space that will soon be vacated by Borders bookstore, as part of its liquidation process, the mall’s management said Wednesday in what seems like a surprise move.
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Plaza Las Américas Borders lease to be auctioned Sept. 20
September 6, 2011
The Plaza Las Américas Borders bookstore will be auctioned by a New York bankruptcy court on Sept. 20, opening the door for a group of local investors headed by entrepreneur Amaury Rivera to pick up the lease for the once thriving operation.
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Boston court puts chill on ice cream distributors’ legal fight
September 3, 2011
A legal fight between two Puerto Rico ice cream distributors was frozen in its tracks this week by the U.S. District Court of Appeals in Boston, when Chief Judge Sandra L. Lynch dismissed a lawsuit brought on by Sterling Merchandising, Inc., distributor of Edy’s and other brands, against Nestlé Puerto Rico Inc.
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DACO opens new office to pursue stateside retailers shunning P.R.
September 1, 2011
In an effort to safeguard the rights of all consumers living in Puerto Rico against illegal and discriminatory practices by companies that offer goods and services, especially online, Consumer Affairs Secretary Luis G. Rivera Marín and acting governor, Kenneth McClintock, signed an administrative order Thursday creating the Anti-Discrimination Commercial Office.
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3rd edition of ‘Bakery & Restaurant Show’ to go on as planned
August 26, 2011
This weekend, the Puerto Rico Convention Center in Miramar will host one of the year’s most appetizing conventions, The Bakery & Restaurant Show 2011, now in its third edition. Last year, the event generated more than $10 million in sales for local industry players.
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Payless ShoeSource parent to close 475 stores, including P.R. locations
August 25, 2011
Collective Brands Inc., parent company of discount shoe chain Payless ShoeSource, will be closing 475 “underperforming and low-volume, non-strategic stores,” including an unspecified number in Puerto Rico, the company announced Wednesday upon reporting shaky second quarter results.
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