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
Monday, November 30, 2020
Ann Taylor, LOFT and Lane Bryant sold to buyout firm for $540M
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%
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
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
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
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
Nordstrom ties up with Casper to sell products in stores, online
Retail Dive
Casper on Tuesday announced its mattresses and sleep accessories will be sold in some Nordstrom stores and on its website beginning this month. . . . more
Sale of J.C. Penney gets court approval
CSA
The deal to save J.C. Penney has been approved by bankruptcy court.. . . more
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
Thursday, November 5, 2020
J.Jill Moves Forward With Reverse Stock Split — What This Means for the Struggling Chain
Footwear News
J.Jill Inc. is moving forward with a reverse stock split.. . . more
Talbots hears – and responds to – the voice of the customer
CSA
A women’s specialty apparel retailer is enhancing its customer experience based on social feedback.. . . 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