Shopping Centers Today

APR 2017

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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S T O R E F R O N T S 22 S C T / A P R I L 2 0 1 7 J.C. Penney Co. says that notwithstanding its plans to close roughly 140 stores and two warehouses, brick-and-mortar stores remain a key part of its growth strategy. "Closing stores will also allow us to adjust our business to effectively compete against the growing threat of online retailers," said Chairman and CEO Marvin R. Ellison. "Maintaining a large store base gives us a competitive advantage in the evolving retail landscape, since our physical stores are a destination for personalized beauty offerings, a broad array of special sizes, affordable private brands, and quality home goods and services. It is essential to retain those locations that present the best expression of the JCPenney brand and function as a seamless extension of the omni-channel experience through online order fulfillment, same-day pickup, exchanges and returns." n PENNEY'S WORTH J.C. Penney Co. is closing 140 stores to cut costs and reinvest in its best locations C urrent Meditation appears to have hit on an ideal way to apply an ancient practice to the contemporary material world: multisensory experience. The company says its 2,000-square-foot studio in Phoenix is designed to provide an environment that fosters an inviting, restorative sense of community and wellness. "After years of practicing meditation and exploring its many benefits, my family and I became inspired to launch Current Meditation to break down stereotypical barriers of the practice," said Ross Weisman, the company's president and chief branding officer. "Our mission was Friends like these Asian social-media phenomenon Line Friends is coming to the U.S. The Line Friends Corp. signed a 10-year lease on a 4,600-square-foot space in New York City's Times Square. The name Line Friends refers to a set of emoji-like characters created for users of Asian smartphone service Line. The characters became so popular that Line spun them off into a separate company that creates branded products to feature them. Line Friends operates 69 stores globally, in such Chinese cities as Beijing, Chengdu and Shanghai, in Hong Kong and in Seoul, South Korea. The Times Square store will get exclusive use of 1,314 square feet of LED signage in the heart of the Times Square Bowtie (as the intersection of Broadway and 7th Avenue on the West 40s streets is called). SL Green Realty Corp. is landlord on the deal. "We are thrilled to welcome Line Friends to the SL Green retail portfolio," said managing director Brett Herschenfeld. "Times Square continues to attract strong global retail players. It provides the brand with unparalleled 24/7 exposure to pedestrian traffic, as well as LED signage ideal for showcasing the company's retail products that complement its digital application." n Gym for the mind to create a welcoming space to foster inner stillness in a modern way." The company engaged design firm Fitch to create a place that would appeal to virtually every type of person and which would help dispel common perceptions of meditation, in simple spaces such as a "social table" or a "decompression area." Current Meditation's acoustically controlled meditation rooms use customizable light, sound and air settings to enhance the guided sessions. "The outcome is a studio that gives anyone a place they can just go and be," said Jay Adams, design director at Fitch. "It is a gym for your mental well-being, without the sweat." n

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