Monday, December 19, 2011

JCPenny returning to Franklin Mills

JCPenney will make a return to the Franklin Mills mall in Philadelphia — this time as a full-line store.

Last January the retailer said it would close 19 outlet stores, including its Franklin Mills location.

In March, it will open a 100,000-square-foot store in the same space, the mall said. It will have an updated design and an assortment of professional-and-lifestyle attire for men, women and children.

J.C. Penney Co. Inc. (NYSE:JCP), which is based in Plano, Tex., has 1,100 JCPenney stores and annual sales of $17.8 billion.

Franklin Mills, which is owned by Indianapolis-based Simon Property Group  (NYSE:SPG), has 200 outlets and what it calls “value retail” stores, including Saks Fifth Avenue OFF 5TH, Last Call by Neiman Marcus, Polo Ralph Lauren Factory Store, Nike Factory Store, Kenneth Cole Outlet Store, Guess Factory Store and others.

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