Wednesday, September 30, 2020

Retail on pace for the most bankruptcies and store closures ever in one year, BDO says

Retail Dive
The pandemic — with its temporary store closures, social distancing requirements, e-commerce boom and supply chain disruption — in the first six months of this year fueled uncertainty for retailers and accelerated existing trends, according to BDO's biannual bankruptcy update.. . . more

Sycamore Partners reportedly bids on Ann Taylor and other Ascena assets

Retail Dive
Private equity firm Sycamore Partners has offered to buy key assets of bankrupt Ascena Retail Group, Bloomberg reported on Friday, citing unnamed sources.. . . more

Syracuse mall asks tenants to leave, shuts for good

CSA
Gov. Andrew Cuomo stalled the opening of malls in New York, requiring that air filtration systems be upgraded before they could allow customers in, but ShoppingTown Mall in DeWitt, N.Y., could only let in the rain.. . . more

Tuesday, September 29, 2020

CDC classifies in-store Black Friday shopping as 'higher-risk'

CSA
The Centers for Disease Control and Prevention wants shoppers to avoid crowded stores on Black Friday.. . more

Friday, September 25, 2020

Neiman Marcus Group reportedly in major headcount reduction

CSA
The Neiman Marcus Group is starting to cut back on staff as it prepares to emerge from Chapter 11 bankruptcy protection.. . more

Gap revamps rewards program across core brands

CSA
Gap Inc. is introducing a new corporate loyalty program that will be individually branded for its four major store banners.. . . more

Thursday, September 24, 2020

Is JCPenney Actually Worth More Than $10 Billion? Why A Group of Shareholders Thinks So

Footwear News
A group of J. C. Penney Company Inc. shareholders are arguing that the retailer could be worth much more than it valued itself in bankruptcy court.. . . more

Half of holiday shoppers plan to use curbside or contactless pickup: survey

Retail Dive
More consumers plan to shop on Cyber Monday compared to Black Friday, according to a survey conducted by BlackFriday.com and Survey Gizmo.. . more

Wednesday, September 23, 2020

Ralph Lauren to cut workforce by 15%

CSA
Ralph Lauren on Tuesday said it will simplify its organization and cut its global workforce by the end of its current fiscal year, to achieve savings of between $180 million and $200 million in gross annualized pre-tax expenses.. . more

Ascena clears hurdle into final stretch of Ch. 11 reorganization

CSA
Ascena's plan to reorganize in bankruptcy is set for a vote by creditors after a key milestone in the Chapter 11 process.. . . more

Tuesday, September 22, 2020

Holiday sales to rise 1.0% to 2.6% but over a longer period than in years past

CSA
The traditional November to December holiday shopping season is meaningless this year — and perhaps forever. . . more

Monday, September 21, 2020

Emerging from the pandemic, PREIT signs new tenants at six malls

CSA
Shopping centers and malls continue to work their ways out of the confines of COVID-19 with gains in traffic and new tenants coming on-stream.. . . more

Ann Taylor parent sells Catherines for $40.8 million

CSA
Ascena Retail Group Inc., whose banners include Ann Taylor, Loft and Lane Bryant, is selling its plus-size Catherines brand for more than double what it was originally offered.. . . more

Friday, September 18, 2020

A long-awaited moment of truth for GameStop

CSA
GameStop may have unlocked a 1-up in a tumultuous 2020. . . . more

Owners optimistic about plan to save Connecticut’s largest mall

CSA
With 1.3 million sq. ft. of gross leasing area and minus two anchors with the departures of Sears and J.C. Penney, The Connecticut Post Mall in Milford is encountering the same questionable future being faced by so many massive, enclosed shopping centers built in the Seventies and Eighties.. . . more

Thursday, September 17, 2020

Centennial hatches plan to let people shop their malls like they shop Amazon

CSA
Back in March and April, when the COVID-19 pandemic began putting malls out of business, Centennial executives hunkered down in a series of defensive planning meetings to weather the crisis.. . . more

Dressbarn to offer contactless returns

Retail Dive
Happy Returns will facilitate Dressbarn's return processes, including providing software and reverse logistics for the apparel retailer. . . . more

A case for radical retail reinvention

Retail Dive
In a case of cinematically bad timing, three of the largest retail projects to hit the New York City metro area opened less than a year before a historic pandemic shut everything down.. . more

Tuesday, September 15, 2020

J.Jill in agreement to avoid bankruptcy; will restructure out of court

CSA
J.Jill has managed to avoid taking a trip bankruptcy court.. . more

Connecticut’s largest mall’s fate rests on zoning board’s decision

CSA
The Connecticut Post Mall in Milford, Conn., lost its Sears and J.C. Penney and wants to fill those empty spaces with luxury apartments that owner Centennial thinks would fill a need in the community and save the property.. . more

Friday, September 11, 2020

GNC strengthens order management capability

CSA
A leading vitamins and supplements retailer is compressing delivery times and optimizing order orchestration and fulfillment.. . . more

Macy’s and Kohl’s Are Starting to See Their Store Traffic Recover in Hard-Hit Coronavirus States

Footwear News
Things are starting to look up for some department stores that had experienced plummeting traffic as the coronavirus pandemic made its way across the United States over the past six months.. . . more

Century 21 Goes Bankrupt

Plain Vanilla Shell
Century 21 Stores has gone bankrupt.. . . more

Thursday, September 10, 2020

GameStop is closing hundreds more stores

CNN Business
GameStop is closing about 100 more stores than it originally planned, with the struggling retailer warning of more closures next year.. . . more

American Eagle swings to Q2 loss but Aerie continues to soar; closing 40 to 50 stores

CSA
American Eagle Outfitters Inc. reported smaller-than-expected second-quarter losses and sales that beat expectations, boosted by intimates brand Aerie.. . more

Simon and Brookfield reportedly in $800 million deal to acquire J.C. Penney

CSA
Two mall owners have come to the rescue of embattled J.C. Penney.. . more

Tuesday, September 8, 2020

What's in a flagship?

Retail Dive
Gap closing stores isn’t really news. The apparel retailer has been closing hundreds as it works to build back its brand, grow its e-commerce and get away from the mall. The company just announced yet more will shut down this year and next.. . . more

9 retailers that are avoiding the industry's shakeout and opening stores

CNBC
The coronavirus pandemic has upended the retail industry and pushed dozens of companies into bankruptcy.. . . more

Friday, September 4, 2020

Retail to open at American Dream on October 1

CSA
H&M, Primark, and Zara will finally open their stores at American Dream—Triple Five’s long-stalled New Jersey mega-mall—on Oct. 1.. . . more

Thursday, September 3, 2020

The Backroom: When malls buy their tenants

Retail Dive
It started in April. Retailers, pummeled by a health crisis that forced an unexpected wave of store closures, started looking for creative ways to tighten their belts. On the list of costs retailers were struggling to address: rent. . . more

Back-to-school shoppers are showing up after all, study shows

Retail Dive
The back-to-school season isn't going to be as strong as it was last year, when August store visits rose 5.1% at Target, 3.7% at Best Buy and 2.5% at Walmart. But recent footfall analysis from Placer.ai suggests it is nevertheless set to come to the aid of retailers.. . more

Macy’s to test smaller stores in non-mall locations; expects drawn-out holiday

CSA
Macy’s is looking at different locations to grow its brand. It’s also preparing for a holiday season that will be different from years past.. . . more

Wednesday, September 2, 2020

Tuesday, September 1, 2020