Monday, November 30, 2020

Ann Taylor, LOFT and Lane Bryant sold to buyout firm for $540M

New York Post
Iconic women’s clothing brands Ann Taylor, LOFT and Lane Bryant will be bought out of bankruptcy by private equity firm Sycamore Partners, the companies said Thursday. . . . more

In Mass., mall to be replaced by distribution center

CSA
Greendale Mall in Worcester could serve as the poster child for COVID-19’s acceleration of online shopping and demand for merchandise fulfillment services. . . . more

Wednesday, November 25, 2020

ICSC: Shoppers to spend $470 during Thanksgiving weekend

CSA
Most (85%) shoppers expect to shop in the period that starts on Thanksgiving and ends on Cyber Monday.  . . . more

Best Buy posts 'blockbuster' Q3 with digital sales up nearly 175%

Retail Dive
Best Buy kept up its blazing pandemic-era growth through the third quarter, with U.S. sales up 21% year over year across the business to $10.9 billion. . . . more 

Abercrombie to close more flagships; posts better-than-expected Q3

CSA
Abercrombie & Fitch easily topped Wall Street estimates for quarterly sales and earnings amid cost controls and strong online demand. . . . more

Tuesday, November 24, 2020

The second Covid-19 spike is forcing retailers like Foot Locker to refocus on e-commerce

Plain Vanilla Shell
Foot Locker had a strong quarter, according to its latest earnings report released Friday morning. Over the three months ending on Oct. 31, the brand brought in $128 million in revenue, beating the $122 million it brought in during the same period last year by about 5%.. . . more

NRF: Holiday sales to rise 3.6% to 5.2% in ‘strong finish’ to 2020

CSA
The National Retail Federation issued an upbeat  holiday forecast despite the ongoing COVID-19 pandemic, citing a strong stock market, rising home values and record personal saving rates. . . . more 

Monday, November 23, 2020

Sbarro’s Comeback Centers on the Impulse Pizza Buyer

Plain Vanilla Shell
Sbarro CEO David Karam said the brand’s intention has never been to exit malls, its primary domain for decades. . . . more

Thursday, November 19, 2020

Forever 21 streamlines, safens online checkout

CSA
Online Forever 21 shoppers will have access to single-click checkout, among other new payment-related features.. . . more

Macy's reports 20% fall in comparable sales, eyes surging virus cases

Fox Business
Macy's Inc reported a more than 20% drop in quarterly comparable on Thursday and said it expects that to continue into the fall season, signaling a tough holiday season for the coronavirus-battered department store chain. . . . more

Wednesday, November 18, 2020

Claire’s to drive new store growth with location-based analytics

CSA
Claire’s Stores Inc. will develop customized sales forecasting models to help make real estate decisions. . . . more

Tuesday, November 17, 2020

Dillard's surprises with Q3 profit despite women's apparel slump

Retail Dive
Dillard's on Thursday reported that total third quarter retail sales (excluding its construction business) fell about 25% year over year to $994.6 million, with home and furniture significantly outperforming other categories and women's apparel sales "significantly below trend." . . . more

Taubman agrees to discount, clearing path to Simon merger

Retail Dive
In a reversal of its attempt to nix its deal to acquire smaller rival Taubman, Simon Property Group is set to take over some of the most productive mall properties in the U.S., widely seen as key to thriving in a new retail environment. . . . more

Francesca's to close 140 stores by end of January

CSA
Francesca's Holdings Corp. is considering its options, including bankruptcy. . . . more

Retailers urging holiday shoppers to start early to limit crowd size

Boston 25 News
You may have noticed the holiday shopping season already underway. Retailers are urging people to shop earlier to help alleviate crowds during the last-minute rush. Inside Neatly Nested in South Boston, customers were getting a jump on the holiday rush. . . . more

Friday, November 13, 2020

Anchors, away: How department stores are ditching malls

Retail Dive
When department stores took their cavernous stores with their varied assortments, savvy buyers and attentive associates to the mall decades ago, it was a win-win. The retailers could more easily reach all the customers who were filling up the suburbs, and the malls could chase that footfall up and down their corridors and into their smaller inline specialty tenants. . . . more

Thursday, November 12, 2020

How the J.C. Penney acquisition is changing the game in retail real estate

CSA
Victor Sahn has specialized in bankruptcy law going on 40 years, and he says that what’s happening in retail Chapter 11 situations during the pandemic is something entirely new.. . . more

Wednesday, November 11, 2020

Tuesday, November 10, 2020

Simon’s Balance Sheet Takes Big Hit in Q3 — But Mall Giant Signals Optimism About Stronger Shopper Traffic and Retailer Sales

Footwear News
Earnings and sales at Simon Property Group fell short of Wall Street’s expectations, sending the mall behemoth’s stock down in Monday after-hours trading.. . more

Friday, November 6, 2020

Private equity company takes majority stake in Clarks

CSA
In a deal that ends family ownership after nearly 200 years, struggling footwear brand and retailer Clarks has sold a majority stake in the company to Hong Kong-based private equity firm LionRock Capital.. . . more

Old Navy closes stores Thanksgiving, extends Black Friday

CSA
Old Navy is turning Black Friday into ‘Big Friday’ and giving store shoppers and employees the day off on Thanksgiving.. . . more

Tuesday, November 3, 2020

PREIT files for Chapter 11 protection to enable restructuring

CSA
Big mall owner PREIT has filed for Chapter 11 protection to gain access to an additional $150 million to extend its debt maturity schedule and allow it to follow through with planned strategic moves.. . . more

Monday, November 2, 2020

J.C. Penney signs agreement with Brookfield, Simon

CSA
J.C. Penney has taken a big step towards its financial restructuring and emergence from bankruptcy.. . . more