- Trump Engaged in Suspect Tax Schemes as He Reaped Riches From His Father “The president has long sold himself as a self-made billionaire, but a Times investigation found that he received at least $413 million in today’s dollars from his father’s real estate empire, much of it through tax dodges in the 1990s.” (The New York Times)
- Kroger and Walgreens Launch Pilot Program to Pick Up Groceries at the Pharmacy “Kroger and Walgreens are experimenting with a program that would allow Walgreen’s shoppers to pick up online orders of Kroger’s groceries at some of the pharmacy’s locations, the retailers announced Tuesday.” (CNBC)
- Fed’s Powell Doesn’t See Steep Rise in Inflation Ahead “Federal Reserve Chairman Jerome Powell on Tuesday said he did not see signs that inflation would spike higher despite the low unemployment rate.” (MarketWatch)
- Online Orders Force Supermarkets to Rethink Their Stores “Smart & Final Inc. has made some changes lately that would seem like near-heresy for a supermarket: The California-based chain ripped out racks of snacks and other profitable impulse purchases near the doors of some stores and instead installed freezers there.” (Wall Street Journal, subscription required)
- Walmart Plans to Acquire Plus-Sized Fashion Startup Eloquii for $100 Million “Today, the world’s largest brick-and-mortar retailer has taken a small step in that direction by agreeing to acquire Eloquii, a four-year-old startup that makes and sells its own line of plus-sized women’s fashion primarily through its own website. Eloquii also sells through five of its own stores, as well as online services like Dia&Co and Stitch Fix.” (Recode)
- Making Heads or Tails of the U.S. Multifamily Sector “If you were to focus solely on the slowing pace of rent gains, burgeoning supply and the rise in interest rates, you might assume that the real estate market isn't in a strong place right now. But despite all of the above, the multifamily market is in a healthy position.” (Forbes)
- Chinese Developer Struggles in Brooklyn, Other Major U.S. Projects “China’s Greenland Holding Group is selling part of a major Brooklyn real-estate project, the latest sign that Chinese developers and investors are having a rough time in the U.S. property market.” (Wall Street Journal, subscription required)
- Vornado Quietly Presented 15 Penn Plaza Renderings to Investors “The prospect of transforming the matronly Hotel Pennsylvania — into an innovative office building with greenery draped over its numerous outdoor areas — just got rosier.” (New York Post)
- JC Penney Taps Former Joann Stores Chief Jill Soltau as Its CEO, Sending Shares Up More Than 10% “J.C. Penney said Tuesday that Jill Soltau, the former CEO of Joann Stores, will take the helm of the struggling department store chain, sending shares up more than 10 percent in extended trading.” (CNBC)
- Colliers International President Joe Harbert Decamps for Avison Young “Colliers International president Joe Harbert has left the firm and joined rival brokerage Avison Young in a leadership position.” (The Real Deal)
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