This Is Insider
From thrift shopping to high-end luxury brands, locals and tourists look
for the mall that has it all. From the finest dining to movies to a
variety of retail shops, they are looking for a one-stop shop.
Though
malls are closing at a pretty high rate, there are still plenty of
quality shopping experiences to be had in person.. . . more
Thursday, April 12, 2018
Gap CEO: Big data gives us competitive advantages
Chain Store Age
Gap Inc. is not underestimating the value of its big data.
The company’s same-store sales are on rise, which the company partially credits to the customer data it collects to create personalized marketing campaigns, according to CNBC.. . . more
Gap Inc. is not underestimating the value of its big data.
The company’s same-store sales are on rise, which the company partially credits to the customer data it collects to create personalized marketing campaigns, according to CNBC.. . . more
Wednesday, April 11, 2018
Retail defaults hit an all-time high in early 2018
Retail Dive
Bleeding in mall retail did not stop with the new year and robust holiday sales season.
In a November survey, nearly all retail executives said they expect as many or more bankruptcies in 2018 as occurred last year, according to a March study from accounting and consulting firm BDO. Specifically, 40% of executives said they expect more bankruptcies and another 54% said they expect the level of bankruptcy filings to stay consistent with last year, which surpassed 2008 in retail bankruptcies.. . . more
Bleeding in mall retail did not stop with the new year and robust holiday sales season.
In a November survey, nearly all retail executives said they expect as many or more bankruptcies in 2018 as occurred last year, according to a March study from accounting and consulting firm BDO. Specifically, 40% of executives said they expect more bankruptcies and another 54% said they expect the level of bankruptcy filings to stay consistent with last year, which surpassed 2008 in retail bankruptcies.. . . more
Bon-Ton may be headed for liquidation after losing key bid condition
Retail Dive
U.S. Bankruptcy Judge Mary Walrath may have cleared the way for the bondholders who want to liquidate Bon-Ton's assets to do just that.
The judge said on Wednesday that the $500,000 fee attached to the going-concern bid fell outside the bidding procedures she had established last month.. . . more
U.S. Bankruptcy Judge Mary Walrath may have cleared the way for the bondholders who want to liquidate Bon-Ton's assets to do just that.
The judge said on Wednesday that the $500,000 fee attached to the going-concern bid fell outside the bidding procedures she had established last month.. . . more
Simon unveils plans to fill five vacated Sears stores
Chain Store Age
Food halls, fitness centers, and new shops are destined for emptied Sears spaces at five Simon malls, according to company COO Michael McCarty.
The vacated Sears at Simon’s Brea Mall in Brea, Calif., will be the site of a mini-mixed-use project with residences, restaurants, new retail brands and a three-story, 120,000-sq.-ft. Life Time Athletic center.. . . more
Food halls, fitness centers, and new shops are destined for emptied Sears spaces at five Simon malls, according to company COO Michael McCarty.
The vacated Sears at Simon’s Brea Mall in Brea, Calif., will be the site of a mini-mixed-use project with residences, restaurants, new retail brands and a three-story, 120,000-sq.-ft. Life Time Athletic center.. . . more
Mall owners team up to buy bankrupt Bon-Ton
Chain Store Age
An investor group made up of two mall owners — Washington Prime Group and Namdar Realty Group — and alternative asset manager DW Partners have signed a letter of intent to acquire The Bon-Ton Stores as a going concern in a Bankrupt Court-supervised sale process.
In teaming up to save Bon-Ton, the two mall owners would be following in the footsteps of Simon Property Group and General Growth Properties. In fall 2016, the two companies teamed up to buy bankrupt teen apparel retailer Aeropostale. The deal is credited with keeping 229 Aeropostale stores open.. . . more
An investor group made up of two mall owners — Washington Prime Group and Namdar Realty Group — and alternative asset manager DW Partners have signed a letter of intent to acquire The Bon-Ton Stores as a going concern in a Bankrupt Court-supervised sale process.
In teaming up to save Bon-Ton, the two mall owners would be following in the footsteps of Simon Property Group and General Growth Properties. In fall 2016, the two companies teamed up to buy bankrupt teen apparel retailer Aeropostale. The deal is credited with keeping 229 Aeropostale stores open.. . . more
Some Sears Stores Are Being Auctioned Online
Wall Street Journal
Troubled department-store chain Sears Holdings Corp. is looking to cash in on real estate, and some of its stores could be sold online.
Real estate services firm Cushman & Wakefield is partnering with Real Insight Marketplace, an online auction platform, to help Sears sell 16 profitable store locations. The stores, 15 of which are attached to malls, are being marketed as sale and lease-back deals, and some properties with agreements that allow modifications could be turned into self-storage, hotel or residential space.. . . more
Troubled department-store chain Sears Holdings Corp. is looking to cash in on real estate, and some of its stores could be sold online.
Real estate services firm Cushman & Wakefield is partnering with Real Insight Marketplace, an online auction platform, to help Sears sell 16 profitable store locations. The stores, 15 of which are attached to malls, are being marketed as sale and lease-back deals, and some properties with agreements that allow modifications could be turned into self-storage, hotel or residential space.. . . more
Tuesday, April 10, 2018
One attraction still drawing shoppers to malls: Food
CNBC
You might've noticed more and more mall food courts are changing, ditching fast food chains for local eateries. And that's not an accident.
Mall owners say they've been steadily increasing the percentage of retail square footage at any given property dedicated to food and beverage, creating new food halls. The push to make these changes is compelling, industry experts have told CNBC. The goal is to drive traffic to the property and keep shoppers lingering longer.. . . more
You might've noticed more and more mall food courts are changing, ditching fast food chains for local eateries. And that's not an accident.
Mall owners say they've been steadily increasing the percentage of retail square footage at any given property dedicated to food and beverage, creating new food halls. The push to make these changes is compelling, industry experts have told CNBC. The goal is to drive traffic to the property and keep shoppers lingering longer.. . . more
Nordstrom bets big on the Big Apple
Chain Store Age
Nordstrom is set to open its first-ever full-line, full-price store in New York City.
The department store retailer will open a 47,000-sq.-ft. dedicated men’s store on April 12, at 57th Street and Broadway in Manhattan. (The site is across the street from a seven-story women’s store the retailer will open in fall 2019.)
Nordstrom’s men’s emporium will seek to combine cutting-edge technology with old-school in-store service, complete with 16 on-staff tailors, reported the New York Times.. . . more
Nordstrom is set to open its first-ever full-line, full-price store in New York City.
The department store retailer will open a 47,000-sq.-ft. dedicated men’s store on April 12, at 57th Street and Broadway in Manhattan. (The site is across the street from a seven-story women’s store the retailer will open in fall 2019.)
Nordstrom’s men’s emporium will seek to combine cutting-edge technology with old-school in-store service, complete with 16 on-staff tailors, reported the New York Times.. . . more
Bankrupt chain Bon-Ton postpones auction as investor group makes play to continue business
mcall.com
Bankrupt chain The Bon-Ton Stores Inc. said in a court filing Monday it has received several bids for the company’s assets — but only one of those offers an opportunity for the business to continue.
The two sides, however, need a little longer to iron out a deal, so an auction originally rescheduled for Tuesday has been pushed to 10 a.m. April 16.. . . more
Bankrupt chain The Bon-Ton Stores Inc. said in a court filing Monday it has received several bids for the company’s assets — but only one of those offers an opportunity for the business to continue.
The two sides, however, need a little longer to iron out a deal, so an auction originally rescheduled for Tuesday has been pushed to 10 a.m. April 16.. . . more
Monday, April 9, 2018
4 Models Of The Shopping Mall Of The Future
Forbes
Despite the strong growth in retail sales in 2017, the retail real-estate market continues to be roiled by trends that look to pick up steam in the future. US mall vacancy rates through the first quarter of 2018 are at the highest level since the end of 2012. Overall retail real-estate vacancies stood at 10% in the first quarter, according to data compiled by Reis.
Filling those retail vacancies will only get harder, suggests a report from Green Street Advisors. The report focuses on trends for in-line tenants, rather than anchors. Since in-line tenants have the greatest impact on mall net operating income, the report states “their performance offers a preferred indicator of mall health.”. . . more
Despite the strong growth in retail sales in 2017, the retail real-estate market continues to be roiled by trends that look to pick up steam in the future. US mall vacancy rates through the first quarter of 2018 are at the highest level since the end of 2012. Overall retail real-estate vacancies stood at 10% in the first quarter, according to data compiled by Reis.
Filling those retail vacancies will only get harder, suggests a report from Green Street Advisors. The report focuses on trends for in-line tenants, rather than anchors. Since in-line tenants have the greatest impact on mall net operating income, the report states “their performance offers a preferred indicator of mall health.”. . . more
Challenges Facing Retail in 2018 - How Nordstrom and Macy's Tackle These Issues
Forbes
A quarter of the year 2018 has already past. It is evident that major
retailers are facing great challenges to win in the marketplace.
Challenges include: (1) winning on the internet, (2) being quick and
responsive in distribution of merchandise, and (3) especially gaining
customer traffic in physical stores. Success of efforts in any of these
areas will play out over time; progress for any major retailer can only
be measured as the year passes and we track their ability to gain share
of market and sustain profitable growth.
What’s involved here? There’s a need to think about retail business in new, broader terms and then make investments from the perspective of how they can improve customer satisfaction.. . . more
What’s involved here? There’s a need to think about retail business in new, broader terms and then make investments from the perspective of how they can improve customer satisfaction.. . . more
Nine West files for bankruptcy; to sell namesake brand
Chain Store Age
Massive debt has finally taken its toll on Nine West.
Nine West Holdings Inc. said Friday that it has filed for Chapter 11 bankruptcy protection, with a plan to sell its namesake and Bandolino footwear and handbag businesses as part of its reorganization to Authentic Brands Group. The company said it plans to revamp its capital structure around its profitable businesses, including Anne Klein, Kasper Group, The Jewelry Group and One Jeanswear Group.. . . more
Massive debt has finally taken its toll on Nine West.
Nine West Holdings Inc. said Friday that it has filed for Chapter 11 bankruptcy protection, with a plan to sell its namesake and Bandolino footwear and handbag businesses as part of its reorganization to Authentic Brands Group. The company said it plans to revamp its capital structure around its profitable businesses, including Anne Klein, Kasper Group, The Jewelry Group and One Jeanswear Group.. . . more
Burlington Mall planning 'multimillion-dollar' renovation
Boston Business Journal
The Burlington Mall will soon undergo a "multimillion-dollar" renovation, mall owner Simon Property Group Inc. announced on Monday.
The redeveloped mall, which will include new shops and restaurants, will reopen in spring 2019, Simon said.. . . more
The Burlington Mall will soon undergo a "multimillion-dollar" renovation, mall owner Simon Property Group Inc. announced on Monday.
The
1.3 million-square-foot mall, anchored by such stores as Macy's, Lord
& Taylor, Nordstrom and Primark, will begun work on the project this
summer.
Thursday, April 5, 2018
Two mall owners may bid jointly on bankrupt Bon-Ton Stores Inc.
jsonline.com
Two companies that own shopping malls are talking with Bon-Ton Stores Inc. about buying the bankrupt retailer, a report says.
Reuters, citing people familiar with the matter, reported that Namdar Realty Group, of Great Neck, N.Y., and Washington Prime Group, of Columbus, Ohio, could bid to acquire Bon-Ton out of bankruptcy.
Wednesday was the deadline for bids on Bon-Ton in U.S. Bankruptcy Court in Delaware.. . . more
Two companies that own shopping malls are talking with Bon-Ton Stores Inc. about buying the bankrupt retailer, a report says.
Reuters, citing people familiar with the matter, reported that Namdar Realty Group, of Great Neck, N.Y., and Washington Prime Group, of Columbus, Ohio, could bid to acquire Bon-Ton out of bankruptcy.
Wednesday was the deadline for bids on Bon-Ton in U.S. Bankruptcy Court in Delaware.. . . more
Department store giant in search for new CFO
Chain Store Age
Macy’s announced that Karen Hoguet, CFO since 1997, has decided to retire in February 2019, at the completion of the company’s fiscal year. An external search is underway for her replacement.
“Karen Hoguet is one of retail’s most respected executives and is an outstanding CFO,” said Jeff Gennette, Macy’s chairman and CEO. “For the past three decades, Karen has had a voice in almost every major decision at Macy’s and its predecessor Federated Department Stores. She knows our business inside and out and, through good times and bad, Karen has been a steady and strategic hand in the CFO’s seat.”. . . more
Macy’s announced that Karen Hoguet, CFO since 1997, has decided to retire in February 2019, at the completion of the company’s fiscal year. An external search is underway for her replacement.
“Karen Hoguet is one of retail’s most respected executives and is an outstanding CFO,” said Jeff Gennette, Macy’s chairman and CEO. “For the past three decades, Karen has had a voice in almost every major decision at Macy’s and its predecessor Federated Department Stores. She knows our business inside and out and, through good times and bad, Karen has been a steady and strategic hand in the CFO’s seat.”. . . more
Wednesday, April 4, 2018
Beauty Proves to Be a Bright Spot for US Department Stores
Fung Global Retail Tech
Beauty is a bright spot for department stores, and major names such as Macy’s and JCPenney are investing to attract a greater share of spending flowing to categories such as skin care, color cosmetics and fragrances.
Indeed, among the different categories that department stores compete for, beauty is a higher-growth category overall. Based on data from the US Bureau of Economic Analysis, US consumers increased their spending on apparel and footwear by 1.7% in 2017, while they grew their spending on beauty and fragrance products by more than double that rate, at 3.9%.. . . more
Beauty is a bright spot for department stores, and major names such as Macy’s and JCPenney are investing to attract a greater share of spending flowing to categories such as skin care, color cosmetics and fragrances.
Indeed, among the different categories that department stores compete for, beauty is a higher-growth category overall. Based on data from the US Bureau of Economic Analysis, US consumers increased their spending on apparel and footwear by 1.7% in 2017, while they grew their spending on beauty and fragrance products by more than double that rate, at 3.9%.. . . more
Tuesday, April 3, 2018
Bon-Ton finds a potential buyer
Retail Dive
Bon-Ton Stores is discussing a possible going-concern bid with an
interested party ahead of a bankruptcy auction later this month for the
retailer and its assets, the company said in a press release.
Because of the talks, the retailer extended, with court approval, the deadline for bids on the company and its assets, according to the release. . . . more
Because of the talks, the retailer extended, with court approval, the deadline for bids on the company and its assets, according to the release. . . . more
Monday, April 2, 2018
Regional Mall Vacancies Hit Six-Year High In First Quarter
pymnts.com
Vacancies in regional shopping malls around the country hit a six-year high during the first three months of 2018, which should stress an already struggling retail sector.
The Wall Street Journal, citing data from Reis, the real estate data company, reported that the vacancy rate at large malls around America hit 8.4 percent in the first quarter, which is up from 8.3% in the fourth quarter of 2017. It is the highest level of vacancies since the fourth quarter of 2012, noted The Wall Street Journal. Neighborhood and community shopping centers in 41 of the 77 metropolitan areas that Reis tracks had an increase in the number of vacancies during the past 12 months as of the end of March.. . . more
Vacancies in regional shopping malls around the country hit a six-year high during the first three months of 2018, which should stress an already struggling retail sector.
The Wall Street Journal, citing data from Reis, the real estate data company, reported that the vacancy rate at large malls around America hit 8.4 percent in the first quarter, which is up from 8.3% in the fourth quarter of 2017. It is the highest level of vacancies since the fourth quarter of 2012, noted The Wall Street Journal. Neighborhood and community shopping centers in 41 of the 77 metropolitan areas that Reis tracks had an increase in the number of vacancies during the past 12 months as of the end of March.. . . more
Wall Street’s bears think they have found the next credit crisis: the mall
Herald Tribune
It’s no secret many mall complexes have been struggling for years as Americans do more of their shopping online. Now they’re catching the eye of hedge-fund types who think some may soon buckle under their debts, much as many homeowners did nearly a decade ago.
Like the run-up to the housing debacle, a small but growing group of firms is positioning itself to profit from a collapse that could spur a wave of defaults. Their target: securities backed not by subprime mortgages, but by loans taken out by beleaguered mall and shopping center operators.. . . more
It’s no secret many mall complexes have been struggling for years as Americans do more of their shopping online. Now they’re catching the eye of hedge-fund types who think some may soon buckle under their debts, much as many homeowners did nearly a decade ago.
Like the run-up to the housing debacle, a small but growing group of firms is positioning itself to profit from a collapse that could spur a wave of defaults. Their target: securities backed not by subprime mortgages, but by loans taken out by beleaguered mall and shopping center operators.. . . more
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