Thursday, October 29, 2020

'Death of an entity': 10 retailers that liquidated this year

Retail Dive
J.C. Penney was one of the lucky ones, if you can call any company in bankruptcy lucky.. . . more

Tiffany, LVMH reportedly in talks to reduce deal value, settle dispute

Tiffany & Co. and LVMH are discussing new terms for the U.S. jeweler’s acquisition, which could help settle the dispute between the two companies.. . . more

Landlords, lenders file suits as retail property values fall as much as 75%

Banks and landlords that granted retail property owners mortgage and rent payment deferrals during early-pandemic shutdowns are now aggressively seeking payback.. . . more

Wednesday, October 28, 2020

Rug merchant buys Stamford Town Center for $20.15 million

In a turnaround of the trend which has mall owners like Brookfield and Simon buying retail chains, the high-end rug merchant Safavieh has purchased the Stamford Town Center mall in Stamford, Conn., from Taubman for $20.15 million.. . . more

Nordstrom Local expanding

Nordstrom is doubling down on its no-inventory store format in the company’s largest market.. . . more

Tuesday, October 27, 2020

Mall landlord PREIT gets default notice from bank

Mall owner and operator PREIT has received notice of "alleged events of default" from Wells Fargo on a term loan, according to a securities filing from Friday.. . . more

Monday, October 26, 2020

Carter’s to close 25% of stores as leases expire

Carter’s is closing a big chunk of its store base but it isn’t giving up on new store growth. . . . more

Friday, October 23, 2020

Five predictions for retail 2021

Retailers will invest more in logistics than any other line item in 2021 and mall operators will entirely reinvent themselves and their business operations. . . . more

Hurley owner Bluestar bids $60M for Justice tween brand

Retail Dive
Bluestar Alliance, whose brand portfolio includes Hurley, bebe, Tahari, Brookstone, Limited Too and Nanette Lepore, is now the stalking horse bidder for Ascena's Justice brand, with a $60 million-plus offer that includes $44 million in cash, according to a company press release.. . . more

Gap Inc. announces store closures, off-mall strategy

Gap Inc. is moving away from the mall. . . . more

Thursday, October 22, 2020

J.C. Penney inks deal to sell itself, looks to close it in time for holidays

Retail Dive
J.C. Penney finally has a formal deal on paper and signed with Simon Property Group, Brookfield Asset Management and key lenders that would sell off the department store chain and some 160 real estate assets. . . more

Wednesday, October 21, 2020

True Religion exits bankruptcy — again

True Religion has emerged from Chapter 11 bankruptcy protection for the second time in less than three years. . . . more

J.C. Penney expects to exit bankruptcy ahead of holiday season

J.C. Penney is inching closer to being acquired by mall giants Simon Property Group and Brookfield Asset Management. But a couple of potential roadblocks remain.. . more

Monday, October 19, 2020

Nordstrom, Balsam Hill partner for in-store Christmas tree lots

Nordstrom partnered with Balsam Hill to create Christmas tree lots for holiday shoppers at 21 Nordstrom stores across 13 states, Balsam Hill announced on Tuesday. It's a first-time partnership for both companies.. . . more

Connecticut’s largest mall will live on, says owner

Following a Planning and Zoning Board vote that rejected Centennial’s plan to add luxury apartments to its Connecticut Post Mall in Milford, Conn., the fate of the state’s largest mall was in question. But there was no question about it in the mind of Centennial’s founder and CEO Steve Levin.. . . more

Flying Tiger Variety Store Closing UES Shop, All US Locations

Plain Vanilla Shell
The Danish home goods and toy store Flying Tiger Copenhagen is closing all of its U.S. locations, including a shop on the Upper East Side, the company announced this week.. . . more

Thursday, October 15, 2020

Ascena moves to sell Justice tween brand for $35M

Retail Dive
Ascena Retail Group on Tuesday said it has an agreement to sell the intellectual property, e-commerce business and other assets of its Justice tween brand to Premier Brands Justice  for $35 million, according to court documents filed Tuesday with the U.S. Bankruptcy Court for the Eastern District of Virginia.. . more

Tuesday, October 13, 2020

City votes down plan; Connecticut’s biggest mall may close

This mall doesn’t have to die,” Centennial CEO Steven Levin told the Planning and Zoning Board of Milford, Conn. at a meeting last week.. . . more

J.C. Penney kicks off holidays – in time for Prime Day

Amazon’s annual Prime Day sales event keeps picking up more big-name competition.. . . more

Friday, October 9, 2020

Department stores' decade of decline

Retail Dive
The heyday is over. The question for department stores now is whether there will be a new day.. . . more

Thursday, October 8, 2020

Gen Z spending hits all-time low

Retail Dive
Self-reported teen spending has fallen 9% year over year and 5% since this past spring, to $2,150. . . . more

H&M integrates virtual assistant, live chat with Google services Post settings Labels H&M, No matching suggestions Published on 10/8/20 8:27 AM Permalink Location Options Post: Edit

In partnership with Nuance Communications, H&M is making its virtual assistant and live chat agents available via Google services like Google Maps and Google Search, Nuance announced on Tuesday.. . more

Shoppers adjusting behaviors to avoid public restrooms

Restroom cleanliness is more important than for stores and restaurants.. . . more

Wednesday, October 7, 2020

17 retailers that could go bankrupt as the COVID-19 era wears on

Retail Dive
Retail bankruptcies may hit a painful high-water mark in 2020. Multiple analysts have noted filings are likely to reach their highest number in a decade. Some weeks during the summer brought multiple filings by major names in the industry. . . . more

Department stores' decade of decline

Retail Dive
The heyday is over. The question for department stores now is whether there will be a new day.. . . more 

Why a new digital edition of PlayStation 5 could change GameStop as we know it

CNN Business
Founded in 1984, GameStop is one of the oldest cornerstones of video game retail. But in 2020, it's facing big risks as the industry increasingly turns to digital.. . more

True Religion Apparel to exit bankruptcy

True Religion Apparel Inc. has gotten the green light for a reorganization plan that keeps more than half of its stores open.. . . more

Tuesday, October 6, 2020

Macy's shoppers can buy now, pay later

Macy's is providing the ability to pay in four equal, interest-free installments at online checkout.. . more

Monday, October 5, 2020

Express threatened with delisting

Express, its share price falling, is at risk of being delisted from the New York Stock Exchange. . . . more

Friday, October 2, 2020

MainPlace Mall takes discounts digital with loyalty app

MainPlace Mall will handle social distancing by dispatching loyal customers to the stores they like for the discounts they want.. . more

H&M to close 250 stores next year

Retail Dive
With about a quarter of its leases up for renegotiation or exit annually, H&M on Thursday said it plans a net decrease in its brick-and-mortar footprint next year of about 250 stores, according to a company press release.. . more

American Dream re-opens on October 1 – with retail

They’re not calling it a grand opening. They didn’t call it that when American Dream first opened last October because the Nickelodeon water park and the retail sections weren’t completed. But both are ready to go now as—17 years after the project had its beginnings the New Jersey Meadowlands—Triple Five’s third mega-mall opens its doors to the public on Thursday.. . more

Thursday, October 1, 2020

North Carolina mall gets a new life for Christmas

A May 2019 review of the Randolph Mall in Asheboro, N.C., by “Pawlover”, said, “This mall probably won't last too much longer, which is a bit sad.” Well, Pawlover, cheer up. The mall is making a comeback.. . more