Is Penney's Going to be the New Gimbels?

WWD is reporting that JCPenney is this close to signing a lease in Manhattan Mall, just a stone's throw from Macy's.
Where? What is this Manhattan Mall I keep hearing about?
Remember, that's where Steve & Barry's is? The store Sarah Jessica Parker is working with? Yeah, whatever, you'll be running there in a couple of months.
There are all sorts of variables to the deal, which is as yet unsigned, most importantly, where in the mall is the store going to go? While the building once housed the entirety of Gimbels, it has been segmented, and much of it is now office space. To fit in a store the size that Penney's would want would, at the very least, mean a lot of relocation and construction. In recent years, Penney's has been working furiously to upgrade it's product assortments to go compete more with Macy's rather than it's traditional competitor, Sears. This would give them a chance to do it in the location of Macy's onetime rival, Gimbels.
Hello, Herald Square: Penney's Said Near Deal in Macy's Backyard (WWD)
Previously: Sarah Jessica Parker Gets Bitten...by Steve & Barry's?

Comments

[Bufftuff]

Sure hope so. This would be a big move for them.