Friday, January 29, 2021

Express is 'hemorrhaging cash' even as investors gobble up its stock: report

Retail Dive
After Express' stock price nearly quadrupled from Friday to Monday, analysts at Wedbush threw cold water on the fervor in an emailed research note that said the company is "hemorrhaging cash." . . more

5Qs for Joe Coradino on Malls in the 21st Century

CSA
What mall owners everywhere started doing during the pandemic—replacing lost anchors with health care facilities, adding experiential tenants, giving failing properties back to the bank—Joe Coradino began doing almost 10 years ago at PREIT. . . . more

Wednesday, January 27, 2021

Small format 'Bloomies' to open this fall

Retail Dive
Macy's-owned Bloomingdale's is experimenting with a 22,000 square-foot store format dubbed "Bloomie's," a Bloomingdale's spokesperson said in an email. . . . more

Monday, January 25, 2021

Francesca’s to Close Half of Store Fleet Following Bankruptcy Sale Approval

Footwear News
Francesca’s Holdings Corp. will permanently shutter about half of its brick-and-mortar fleet as it exits bankruptcy proceedings. . . more

This Popular Clothing Store Is Closing at Least 200 Locations

Yahoo! Life
The economic effects of the COVID pandemic are continuing to wreak havoc on some of the biggest names in retail, and the latest one to suffer is American Eagle. . . . more

Thursday, January 21, 2021

Vaccination megasites pop up in empty malls

CNN Business
Now that Covid-19 vaccination efforts are ramping up, local health officials are on the hunt for locations that can quickly be converted into vaccination clinics, and malls across the country, battered by declines in in-person shopping, are starting to play a role. . . . more

The evolution of the shopping mall: What consumers want

Retail Dive
On Cyber Monday, the retail industry achieved a new milestone — the single largest e-commerce day on record with $10.8 billion in sales. According to a report from Creditntell, this represented over a 200% increase from 2016 Cyber Monday sales. Sensormatic Solutions shared that physical store traffic declined 49% for the four-day holiday weekend. Black Friday weekend confirmed that traditional brick-and-mortar retailers face an uphill battle as they enter the new year. . . . more

American Eagle Outfitters’ new strategy focused on Aerie growth

CSA
American Eagle Outfitters is focused on growing its Aerie banner as it plans for the future. . . . more

Wednesday, January 20, 2021

Considering rampant spread of COVID-19, December mall traffic was surprisingly high

CSA
Traffic statistics at American malls in the early days of this year’s expanded holiday shopping season fell in step with the volume of COVID-19 cases being reported—except during gift-buying crunch time in December. . . . more

Tuesday, January 19, 2021

Sears is dying a quiet, invisible death

CNN Business
Sears has made it through another holiday shopping season. Just barely. . . . more

Macy's opens second Market by Macy's strip center location

Retail Dive
Macy's on Friday will open its second Market by Macy's location, a smaller format (about 20,000 square feet) in an off-mall strip center that is part of a real estate strategy unveiled last February. . . . more

Friday, January 15, 2021

Nordstrom Saw Digital Gains Over the Holidays As COVID Hurt Brick-and-Mortar Business

Footwear News
Sales at Nordstrom Inc. took a tumble during the holiday shopping season, but the retailer’s digital business continues to pick up more shoppers. . . . more

Thursday, January 14, 2021

Tuesday, January 12, 2021

PREIT’S re-make of its mall platform will begin at Moorestown

CSA
The re-invention of its business platform that helped win PREIT a swift exit from Chapter 11 protection in December will see one of its first executions at Moorestown Mall in the Philadelphia metro area. . . . more

Monday, January 11, 2021

Westfield sells Long Island mall for $30 million

CSA
Sunrise Mall, the first two-level mall in Long Island when it opened in 1972, was sold by Unibail Rodamco Westfield for $29.7 million. Westfield paid $140 million for the 1.2 million-sq. ft. property when it acquired it in 2005. . . . more 

Friday, January 8, 2021

Mall of America is no longer delinquent on $1.4 billion mortgage

CNBC
Mall of America has modified the terms of its $1.4 billion mortgage and is current on the loan, after missing months of payments during the Covid crisis as stores shut temporarily and tenants failed to pay rent. . . . more

Thursday, January 7, 2021

Victoria’s Secret parent reports robust holiday sales; offers upbeat guidance

CSA
L Brands reported holiday sales that beat its expectations, boosted by another strong performance from Bath & Body Works. . . more

Wednesday, January 6, 2021

Will Shopping Malls Make a Comeback in 2021?

Footwear News
Suffice it to say, 2020 was hardly anybody’s year. When it comes to business, shopping malls — with their enclosed spaces and classification as nonessential retail — are among the retail categories that faced the most pressure. . . . more

Macy’s to close 45 stores by mid-year as part of previously announced plan

CSA
Macy’s to close 45 stores by mid-year as part of previously announced plan. . . more

Tuesday, January 5, 2021

Ex-Simon Outlets chief Yalof takes the helm of Tanger Outlets

CSA
Stephen Yalof, who directed Simon’s Premium Outlets division for six years before joining Tanger Factory Outlets as COO, has transitioned into the CEO spot at the company. He replaces Stephen B. Tanger, now chairman of Tanger’s board of directors. . . more

Epic Games to convert North Carolina shopping mall into new global headquarters by 2024

Fox Business
Epic Games has reached an agreement with Turnbridge Equities and Denali Properties to purchase North Carolina's Cary Towne Center. . . more

Monday, January 4, 2021

Simon’s Taubman acquisition is made final

CSA
Simon Property Group has completed its purchase of 80% of Taubman Realty Group. . . more