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Group buys former Armour meatpacking site in Stockyards

The 16.8-acre site of the historic, former Armour meatpacking plant in Fort Worth’s Stockyards has changed hands, and its new owners aren’t saying anything about their plans. Chesapeake Land Development Co., which bought the site

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Hulen Pointe Shopping Center sold

Hulen Pointe Shopping Center, located in southwest Fort Worth on South Hulen Street one mile south of Hulen Mall, has been purchased by Addison-based Bo Avery with TriMarsh Properties for an undisclosed price.

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Dallas-Fort Worth in top five commercial real estate markets in 2015

According to the Emerging Trends in Real Estate 2015 report, just co-published by PwC US and the Urban Land Institute (ULI), Dallas-Fort Worth ranks No. 5, with two other Texas cities, Houston and Austin ranking at No. 1 and 2 respectively. San Francisco ranks No. 3 and Denver No. 4.

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Social House Fort Worth plans to open mid-November

Social House has leased 5,045 square feet at 2801-2873 W Seventh St. in Fort Worth, according to Xceligent Inc.

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Fort Worth temporarily stops issuing new home permits in TCU area

The moratorium will give a committee and the City Council time to review a proposed overlay that will pare the number of permissible unrelated adults living in the same house.

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Penney hires Kraft executive as marketing chief

 

ANNE D'INNOCENZIO,AP Retail Writer


NEW YORK (AP) — J.C. Penney Co. has hired an executive from the food world to reconnect with its shoppers.

The beleaguered department store on Monday named Kraft Foods executive Debra Berman as senior vice president of marketing to help revitalize the struggling brand.

Penney is trying to win back customers who fled during a transformation plan spearheaded by chain's former CEO, Ron Johnson, that backfired and led to massive losses and sales drops.

Berman, who has worked for Kraft since 2009, served as vice president, marketing strategy and directed global brand strategy for all Kraft-owned brands

J.C. Penney, which is based in Plano, said Berman joins the company's executive board and will report directly to CEO Mike Ullman III. The appointment took effect Friday.

Berman fills the void left by Michael Francis, who left the company in June 2012 after being hired by Johnson eight months earlier. Francis, who was president and marketing chief, was responsible for marketing a new pricing plan created by Johnson. After Francis left, Johnson himself oversaw marketing, until he was fired in April.

Berman's appointment is the latest management change under Ullman, who returned to Penney's helm in April when the board fired Johnson after only 17 months on the job. Ullman has been assembling a new management team to help reverse Penney's fortunes. He's also working to stabilize the business by bringing back basic merchandise and more frequent sales that were eliminated by Johnson in a failed bid to attract younger, hipper customers.

However, analysts say that while traffic is improving as a result of stepped-up discounts, there has been no evidence of a turnaround yet as the company heads into the bulk of the critical back-to-school shopping.

Penney amassed nearly a billion dollars in losses and its revenue dropped 25 percent for the fiscal year that ended Feb. 2 in the first year of the failed transformation strategy. Losses and sales drops continued into the first quarter, as the shadow of Johnson's legacy remained. Penney is expected to report second-quarter results later this month.
 

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