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
Monday, April 30, 2018
Chico's becomes the latest retailer to sell on Amazon
CNBC
Chico's FAS, the parent company of Chico's, White House Black Market and Soma, announced Monday it plans to sell Chico's merchandise on Amazon.
Chico's shares had jumped more than 4 percent in the premarket, but then retreated and were down 1 percent in the regular trading session.
The company said shoppers in mid-May will find a "select assortment" of clothing and accessories, including its athleisure line, no-iron shirts and jewelry, on Amazon. Chico's said it could begin selling items from White House Black Market and Soma via Amazon, "as the new business channel gains traction.". . . more
Chico's FAS, the parent company of Chico's, White House Black Market and Soma, announced Monday it plans to sell Chico's merchandise on Amazon.
Chico's shares had jumped more than 4 percent in the premarket, but then retreated and were down 1 percent in the regular trading session.
The company said shoppers in mid-May will find a "select assortment" of clothing and accessories, including its athleisure line, no-iron shirts and jewelry, on Amazon. Chico's said it could begin selling items from White House Black Market and Soma via Amazon, "as the new business channel gains traction.". . . more
Friday, April 27, 2018
Two-story Wegmans with a tequila bar to open in Massachusetts
Buffalo News
Wegmans will finally unveil its two-story megastore at the Natick Mall in Natick, Mass., Sunday.
The store will have three "firsts" for the Rochester-based grocer:
Wegmans will finally unveil its two-story megastore at the Natick Mall in Natick, Mass., Sunday.
- It's the first Wegmans with shopping on two levels. Many of its stores have mezzanine-level seating, but not grocery departments on a second floor.. . . more
Thursday, April 26, 2018
Sears’ Remaining Stores May Not Garner Much Demand, as Retailer Faces New Struggles
NREI Online
Major mall REITs such as GGP Inc., Macerich and Simon Property Group have arguably already captured the best of Sears Holdings’s fleet of stores, through a series of 50-50 joint venture and outright sale transactions since 2012.
Whatever is left of the Hoffman Estate, Ill.-based retailer’s stores numbers less than 200 – and the company continues to announce closings. Seritage Growth Properties, the New York City-based REIT entity created in 2015 to lease and monetize the Sears properties, holds those and market professionals are not convinced that the remaining properties hold much value for landlords. . . . more
Major mall REITs such as GGP Inc., Macerich and Simon Property Group have arguably already captured the best of Sears Holdings’s fleet of stores, through a series of 50-50 joint venture and outright sale transactions since 2012.
Whatever is left of the Hoffman Estate, Ill.-based retailer’s stores numbers less than 200 – and the company continues to announce closings. Seritage Growth Properties, the New York City-based REIT entity created in 2015 to lease and monetize the Sears properties, holds those and market professionals are not convinced that the remaining properties hold much value for landlords. . . . more
GNC to shutter 200 stores
Retail Dive
GNC plans to close some 200 stores this year, depending on the outcome
of lease renegotiations or relocation opportunities, which are ongoing,
and expects few new stores to open this year, the company also said.
Same-store sales at GNC rose 0.5% in domestic company-owned stores in the first quarter of 2018, according to a company press release. In domestic franchise locations, same-store sales fell 1.9%.. . . more
Same-store sales at GNC rose 0.5% in domestic company-owned stores in the first quarter of 2018, according to a company press release. In domestic franchise locations, same-store sales fell 1.9%.. . . more
How Abercrombie & Fitch plans to grow into a $5 billion company
bizjournals.com
Abercrombie & Fitch Co. hosted its annual investor meeting in New York on Wednesday and shared its aspiration to be a $5 billion business and some of the steps it will take to hit that goal.
Abercrombie's sales were
$3.49 billion last year, up 4 percent from 2016, with notable
improvement in both the Hollister and Abercrombie & Fitch brands.. . . more
Abercrombie & Fitch Co. hosted its annual investor meeting in New York on Wednesday and shared its aspiration to be a $5 billion business and some of the steps it will take to hit that goal.
Charming Charlie emerges from bankruptcy with a smaller footprint, new owners
Chain Store Age
Charming Charlie is no longer bankrupt. But it has fewer stores.
The jewelry and accessories retailer said it successfully completed
its financial restructuring and emerged from Chapter 11, with its
court-confirmed reorganization plan taking effect today, April 24, 2018.
Charming Charlie filed for bankruptcy protection
in December, after announcing plans to shutter a number of
underperforming stores and reduce corporate headcount. It has since
closed roughly 100 locations.. . . more
Charming Charlie is no longer bankrupt. But it has fewer stores.
The culture is changing. Can Victoria's Secret keep up?
bizjournals.com
Fewer young women are buying from lingerie retailer Victoria’s Secret, and analysts point to shifting sentiments among consumers as a possible reason.
The number of women in the 18-to-49 age group
buying from the brand is at its lowest since 2013, per Retail Dive, and
comparable sales declined every month in 2017, per Fashionista.
Sales were down between 10 percent and 14 percent toward the beginning
of the year and by single-digit numbers toward the end of the year. . .
. more
Fewer young women are buying from lingerie retailer Victoria’s Secret, and analysts point to shifting sentiments among consumers as a possible reason.
Wednesday, April 25, 2018
The Future Of America's Malls
WAMC.org
In February, 2017, Macy’s contracted CBRE Inc. Real Estate to sell 32
locations in 20 states, many of which were in shopping malls. Toys R Us
and JCPenney are among other brick and mortar retail chains struggling
to survive, this all according to MassLive.com.
In the past, malls relied on these so-called anchor stores. Now that they are closing their doors, the American shopping mall is in jeopardy.. . . more
In the past, malls relied on these so-called anchor stores. Now that they are closing their doors, the American shopping mall is in jeopardy.. . . more
Tuesday, April 24, 2018
Gap ramping up Old Navy store expansion, remodels
Chain Store Age
Gap Inc. is putting its muscle behind Old Navy, counting on the value apparel brand to drive its growth.
The retailer will open 60 Old Navy stores across the nation this year, reported CNBC, giving it a total of more than 1,000. In addition, some 150 Old Navy stores will be remodeled during the next few months with such features as upgraded fitting rooms, restrooms and checkout areas and more modern fixtures, the report said. About 10% of the 150 stores will receive a full makeover, according to the report.. . . more
Gap Inc. is putting its muscle behind Old Navy, counting on the value apparel brand to drive its growth.
The retailer will open 60 Old Navy stores across the nation this year, reported CNBC, giving it a total of more than 1,000. In addition, some 150 Old Navy stores will be remodeled during the next few months with such features as upgraded fitting rooms, restrooms and checkout areas and more modern fixtures, the report said. About 10% of the 150 stores will receive a full makeover, according to the report.. . . more
Monday, April 23, 2018
Eddie Lampert's firm offers to buy Kenmore from Sears
Boston Herald
Lampert's hedge fund, Sears' biggest shareholder, has asked the struggling retailer to sell the Kenmore brand and the chain's home improvement business.
The private equity firm ESL Investments said that it might buy the assets if the company is willing to sell, sending shares of Sears Holding Corp. jumping 8 percent at the opening bell.. . . more
Lampert's hedge fund, Sears' biggest shareholder, has asked the struggling retailer to sell the Kenmore brand and the chain's home improvement business.
The private equity firm ESL Investments said that it might buy the assets if the company is willing to sell, sending shares of Sears Holding Corp. jumping 8 percent at the opening bell.. . . more
Friday, April 20, 2018
Bon-Ton Stores begin going-out-of-business sales
Chain Store Age
The Bon-Ton Stores will be dark by fall.
The embattled department store retailer announced that going-out-of- business sales will begin Friday, April 20, in its 212 stores and e-commerce websites. The liquidation sales are expected to run for approximately 10 to 12 weeks.
Bon-Ton currently has 250 locations, 38 of which are already in liquidation from a previously announced store closure process.. . . more
The Bon-Ton Stores will be dark by fall.
The embattled department store retailer announced that going-out-of- business sales will begin Friday, April 20, in its 212 stores and e-commerce websites. The liquidation sales are expected to run for approximately 10 to 12 weeks.
Bon-Ton currently has 250 locations, 38 of which are already in liquidation from a previously announced store closure process.. . . more
The top apparel retailer for 2018 will be…
Chain Store Age
Amazon is on pace to make a big name for itself across the apparel industry this year.
According to Morgan Stanley, the online giant is poised to become the number one player in the U.S. apparel industry in 2018, reported CNBC. . . . more
Amazon is on pace to make a big name for itself across the apparel industry this year.
According to Morgan Stanley, the online giant is poised to become the number one player in the U.S. apparel industry in 2018, reported CNBC. . . . more
Victoria’s Secret has a brand image problem
NY Post
Victoria’s Secret has a #MeToo problem.
The lingerie giant’s sales have been sinking for more than a year as
its pricey push-up bras and other fashions fall out of favor — but the
#MeToo movement is also taking a toll on its brand, according to a YouGov poll.
Among 18-to-49-year-old women, the brand’s buzz score — whether consumers are hearing positive or negative things about a brand — dropped more than 3 points over the past six months, to 23.
In 2016, the company’s buzz score was 31. By comparison, Amazon was the No. 1 brand in 2016, with a buzz score of 36.. . . more
Victoria’s Secret has a #MeToo problem.
Among 18-to-49-year-old women, the brand’s buzz score — whether consumers are hearing positive or negative things about a brand — dropped more than 3 points over the past six months, to 23.
In 2016, the company’s buzz score was 31. By comparison, Amazon was the No. 1 brand in 2016, with a buzz score of 36.. . . more
As Bon-Ton’s Fortunes Shift, Investors Brace for Liquidation
NREI Online
About one week ago Bon-Ton Stores appeared to have escaped the spiral of bankruptcy and liquidation that haunts so many retailers these days, after it got an offer from a group of investors including REIT Washington Prime Group, fund manager DW Partners and Namdar Realty to buy the company.
By Monday evening, however, the Milwaukee-based department store operator’s fortune shifted dramatically after reports emerged that only a couple of bidders turned up at its liquidation auction, according to industry observers. Instead of a buyout, the discussion has now turned to liquidating Bon-Ton Stores for good.. . . more
About one week ago Bon-Ton Stores appeared to have escaped the spiral of bankruptcy and liquidation that haunts so many retailers these days, after it got an offer from a group of investors including REIT Washington Prime Group, fund manager DW Partners and Namdar Realty to buy the company.
By Monday evening, however, the Milwaukee-based department store operator’s fortune shifted dramatically after reports emerged that only a couple of bidders turned up at its liquidation auction, according to industry observers. Instead of a buyout, the discussion has now turned to liquidating Bon-Ton Stores for good.. . . more
Thursday, April 19, 2018
Bon-Ton Stores headed for liquidation
Chain Store Age
The end is in sight for The Bon-Ton Stores.
The bankrupt, 160-year-old department store chain is headed to liquidation after it received a winning bid from a joint venture, including Great American Group and Tiger Capital Group, to acquire its inventory and certain other assets. The winning bid by the liquidators was estimated to be worth $775.5 million, according to Reuters. It is subject to approval by U.S. Bankruptcy Court.. . . more
The end is in sight for The Bon-Ton Stores.
The bankrupt, 160-year-old department store chain is headed to liquidation after it received a winning bid from a joint venture, including Great American Group and Tiger Capital Group, to acquire its inventory and certain other assets. The winning bid by the liquidators was estimated to be worth $775.5 million, according to Reuters. It is subject to approval by U.S. Bankruptcy Court.. . . more
The amount of retail space closing in 2018 is on pace to break a record
CNBC
The amount of retail space going dark
in 2018 is on pace to break a record, as companies with massive
floorplans are either trimming back their store counts or liquidating
entirely.
Since 2008, commercial real estate services firm CoStar Group has been tracking the amount of retail square footage slated to close annually. Already in April, more than 90 million square feet of space is expected to be vacated, including Bon-Ton's stores, in 2018. That's easily on track to surpass a record 105 million square feet of space shuttered last year, said Suzanne Mulvee, a senior real estate strategist at CoStar. All it will take is another handful of closures.. . . more
Since 2008, commercial real estate services firm CoStar Group has been tracking the amount of retail square footage slated to close annually. Already in April, more than 90 million square feet of space is expected to be vacated, including Bon-Ton's stores, in 2018. That's easily on track to surpass a record 105 million square feet of space shuttered last year, said Suzanne Mulvee, a senior real estate strategist at CoStar. All it will take is another handful of closures.. . . more
Wednesday, April 18, 2018
Brookfield Is Said to Get Calpers, TIAA Financing for GGP Deal
NREI Online
Brookfield Property Partners LP has lined up a slate of heavyweight backers to help finance its planned takeover of GGP Inc.
The California Public Employees’ Retirement System, a CBRE Group Inc. unit, Future Fund and TIAA affiliate TH Real Estate have agreed to invest in select GGP malls, according to people with knowledge of the matter. The properties weren’t identified.. . . more
Brookfield Property Partners LP has lined up a slate of heavyweight backers to help finance its planned takeover of GGP Inc.
The California Public Employees’ Retirement System, a CBRE Group Inc. unit, Future Fund and TIAA affiliate TH Real Estate have agreed to invest in select GGP malls, according to people with knowledge of the matter. The properties weren’t identified.. . . more
Tuesday, April 17, 2018
Private Equity Sees Profit Potential in U.S. Malls
middlemarketgrowth.com
To say that the American mall is dead is a gross exaggeration. While many shopping centers across the country are struggling, so-called Class A mall real estate, typically in densely populated major metropolitan areas with attractive demographics and innovative concepts, is doing well and piquing investor interest.
While the shopping center of the past was largely dependent on large, well-known retail anchor stores, today’s mall developers are retrofitting space to become lifestyle hubs, relying on a mix of fine dining, entertainment, hotels, offices, health care providers and retail, among other concepts, to help generate traffic.. . . more
To say that the American mall is dead is a gross exaggeration. While many shopping centers across the country are struggling, so-called Class A mall real estate, typically in densely populated major metropolitan areas with attractive demographics and innovative concepts, is doing well and piquing investor interest.
While the shopping center of the past was largely dependent on large, well-known retail anchor stores, today’s mall developers are retrofitting space to become lifestyle hubs, relying on a mix of fine dining, entertainment, hotels, offices, health care providers and retail, among other concepts, to help generate traffic.. . . more
The end of Bon-Ton? Only two bids for parent of Boston Store, Younkers come from liquidators
JSOnline.com
The only two bids at the start of a
bankruptcy auction for department store chain Bon-Ton Stores Inc. were
from liquidators, signaling the end for a company that at one time was
part of the backbone of Wisconsin’s retail industry, according to
reports Tuesday morning.
Reuters,
citing two sources familiar with the matter, said Bon-Ton will go out of
business without a bid from a going-concern bidder. The New York
research firm Reorg Research, also citing sources, likewise reported
that two liquidators were the bidders when the auction finally began
late Monday night.. . . more
Monday, April 16, 2018
No more wedding parties at Banana Republic
Chain Store Age
Gap Inc. is throwing in the towel when it comes to bridal wear.
Gap’s Weddington Way brand, which operates an e-commerce site and in-store shops at Banana Republic, said the shops will close down within the next few months. In a note on its website, the brand said it “hopes” to continue to serve customers online indefinitely. But “at this point,” is only guaranteeing online orders through June 11.. . . more
Gap Inc. is throwing in the towel when it comes to bridal wear.
Gap’s Weddington Way brand, which operates an e-commerce site and in-store shops at Banana Republic, said the shops will close down within the next few months. In a note on its website, the brand said it “hopes” to continue to serve customers online indefinitely. But “at this point,” is only guaranteeing online orders through June 11.. . . more
Friday, April 13, 2018
Backstage shops star inside Macy’s
Retail Wire
Doubters have questioned the strategic branding value of Macy’s placing its Backstage off-price shops in its full-price department stores. Even so, the chain is pushing on with the concept, planning to add 100 more Backstage shops inside of Macy’s to the 55 it already has in operation.
Backstage, which initially began as a standalone concept, was intended as Macy’s off-price response to a wide variety of discounters, including Marshall’s, Nordstrom Rack, Ross Stores and T.J. Maxx.
While some see a branding conflict between Backstage and Macy’s full-line stores, the retailer is adding the shops for a simple reason — they drive sales.. . . more
Doubters have questioned the strategic branding value of Macy’s placing its Backstage off-price shops in its full-price department stores. Even so, the chain is pushing on with the concept, planning to add 100 more Backstage shops inside of Macy’s to the 55 it already has in operation.
Backstage, which initially began as a standalone concept, was intended as Macy’s off-price response to a wide variety of discounters, including Marshall’s, Nordstrom Rack, Ross Stores and T.J. Maxx.
While some see a branding conflict between Backstage and Macy’s full-line stores, the retailer is adding the shops for a simple reason — they drive sales.. . . more
L Brands posts 7 percent increase in March sales
The Columbus Dispatch
L Brands said on Thursday that an early Easter helped boost sales for the five-week period that ended April 7.
Sales rose 7 percent to $1 billion compared with the same period in 2017.
Comparable-store sales, the best indicator of a retailer’s performance, rose by 4 percent during the period.. . . more
L Brands said on Thursday that an early Easter helped boost sales for the five-week period that ended April 7.
Sales rose 7 percent to $1 billion compared with the same period in 2017.
Comparable-store sales, the best indicator of a retailer’s performance, rose by 4 percent during the period.. . . more
2012-Vintage CMBS Mall Loans Holding Up with Few Defaults
NREI Online
Amid the steady stream of bad news about the retail real estate sector, CMBS analysts have found a glimmer of hope: mall loans originated in 2012 and underpinning $4.05 billion of CMBS deals are performing better than previous vintages and have better prospects for refinancing.
Low interest rates, healthy debt service coverage ratios and a robust economy have enabled more than 75 percent of these mortgages to post stable or improving cash flows since they were underwritten, according to an assessment from Morningstar Credit Ratings.. . .
Amid the steady stream of bad news about the retail real estate sector, CMBS analysts have found a glimmer of hope: mall loans originated in 2012 and underpinning $4.05 billion of CMBS deals are performing better than previous vintages and have better prospects for refinancing.
Low interest rates, healthy debt service coverage ratios and a robust economy have enabled more than 75 percent of these mortgages to post stable or improving cash flows since they were underwritten, according to an assessment from Morningstar Credit Ratings.. . .
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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