Tuesday, May 31, 2016

Ron Sargent to step down as Staples CEO

Image result for staples

Staples CEO and chairman Ron Sargent is stepping down from his positions effective June 14, with the company's president of North American operations set to take over as interim chief executive.

The move comes weeks after Staples abandoned its proposed merger with Office Depot after a federal judge ruled against the companies and in favor of the federal government.. . . more

Ulta soars — online and in store

Ulta Beauty turned in what could be the best retail performance of the first quarter, posting strong brick-and-mortar and online growth and results that easily topped estimates.
 
Ulta’s net sales for the quarter, ended May 2, surged 23.7% to $1.07 billion, up from $868.1 million in the year-ago period, and surpassing estimates for $1.03 billion. E-commerce sales shot up 38.8% to $61.0 million from $44.0 million last year.

Ulta ended the first quarter with 886 stores and square footage of 9,348,577, which represents an 11% increase in square footage compared to the first quarter of fiscal 2015.. . . more

Leases for 320 Sports Authority stores to go to auction

Sports Authority’s remaining 320 store leases will be auctioned in June.
 
The leases will be sold by commercial real estate, advisory and investment group A&G Realty Partners, which is currently accepting bids on the leases. The leases are for stores that range from 10,000 sq. ft. to 80,000 sq. ft., and are located in many of the major retail markets in the country including prestigious locations in New York City, Chicago, Los Angeles, Dallas, and Miami. (Click here for full store list.). . . more

Big Lots makes big splash with profit growth, healthy sales

Another value retailer has posted a stellar first quarter, outshining traditional department stores and many specialty stores. Big Lots Inc. surpassed Wall Street expectations with net income and revenue performance that one major presidential candidate might term “huge.”
The discounter reported net income of $38.66 million, a 20% gain from $32.31 million the same quarter a year earlier.
Net sales rose a better-than-expected 2% to $1.31 billion from $1.28 billion.  Same-store sales increased 3%, the ninth consecutive quarterly increase.. . . more

Abercrombie chairman bets you're tired of $5 T-shirts

Abercrombie & Fitch clothing store. Sick of spending $5 on a T-shirt, only to have it wither away by the time spring rolls around again? The team at Abercrombie & Fitch is betting that you are, and is reinventing the company's namesake label to meet that perceived need.


Executive Chairman Arthur Martinez told CNBC on Thursday "there's a theory" out there that shoppers are tiring of disposable fashion, and are willing to spend more for quality clothing that's built to last.

As such, the Abercrombie brand is shifting its sights from teens, as it attempts to become a more "sophisticated" label for 20-somethings with an "eye for style.". . . more

Retail testing limits: More stores in store for US, report shows

An Ulta Beauty store being built in Wayne. Such service providers are a growing retail segment.Retailers and restaurant chains are continuing to open new locations, but much of the growth is being fueled by retail and restaurant categories that may be reaching their saturation point, a new research report shows.

"The good news is on the whole, growth is still happening," said Garrick Brown, Cushman & Wakefield's vice president of retail research/Americas and the author of the report. The bad news, however, is that the growth is limited to the same categories that already may be overexpanded, he said.. . . more

U.S. consumer spending surges; inflation creeping up


A woman and child shop at a Walmart to Go convenience store which is open on a trial basis in Bentonville, Arkansas June 5, 2014. REUTERS/Rick Wilking U.S. consumer spending recorded its biggest increase in more than six years in April and inflation rose steadily, more signs of an acceleration in economic growth that could persuade the Federal Reserve to raise interest rates again as early as June.

The Commerce Department said on Tuesday consumer spending, which accounts for more than two-thirds of U.S. economic activity, surged 1.0 percent last month as households bought automobiles and a range of other goods and services.. . . more

US home prices rise in March as spring buying season begins

Image result for home soldU.S. home prices kept climbing in March as the spring home buying season began, but so far the higher costs haven't thwarted sales.

The Standard & Poor's/Case-Shiller 20-city home price index increased 5.4 percent in March compared with a year earlier, according to a report released Tuesday. That is the same annual gain as in February.

Solid job growth, modest increases in wages and salaries, and low mortgage rates are fueling Americans' willingness to buy homes. Yet there is also a limited supply of homes on the market, which pushes up prices.. . . more

Friday, May 27, 2016

Saks to exit one of nation’s most upscale malls

Saks Fifth Avenue plans to shutter its 107,000-sq.-ft. store at The Mall at Short Hills, in Short Hills, New Jersey, amid plans to open a flagship in a huge retail and entertainment center in the state.

As previously announced, the upscale retailer plans to open a store at the under-construction, three-million-sq.-ft. American Dream Meadowlands mega-center, in East Rutherford, New Jersey.. . . more

Dollar stores escape the retail blues


The nation’s top two extreme-value discounters aren’t feeling the retail malaise that affected department stores and many specialty retailers in the first quarter.

Rivals Dollar Tree and Dollar General Corp. on Thursday both reported better-than-expected first quarter profits amid increases in traffic, higher spending and lower costs. Summing up a sentiment widely voiced by industry experts and analysts, Dollar Tree CEO Bob Sasser said his company is “part of what I consider, in this economic environment, the most attractive sector in retail.". . . more

Sears’ woes mount; exploring options for key brands

As Sears Holdings Corp. continues to struggle to turn its business around, the chain announced it is exploring ways to expand distribution of its key brands outside its own stores. The troubled retailer also announced its CFO is leaving.

Sears lost $471 million in its first quarter, ended April 30, compared with $303 million in the year-ago period. Loss per share came to $4.41, or $1.86 adjusted for certain items. Analysts estimated a loss of $3.20 per share.. . . more

L.L.Bean said to be opening first Wisconsin store

L.L.Bean continues its national expansion as the Milwaukee Journal Sentinel reports that the 104-year-old Maine business will be opening its first location in Wisconsin in 2017.

According to the Sentinel, a source familiar with the plans who requested not to be identified, said the approximately 15,000-square-foot store will be part of a mixed-used project in the town of Brookfield known as The Corners.. . . more

Thursday, May 26, 2016

Thieves target Walmart POS with skimmers

Criminals have reportedly been targeting some Walmart stores with credit card skimming devices illicitly placed on POS terminals. According to the Krebs on Security blog, the skimmers are designed to overlay legitimate self-payment card readers manufactured by Ingenico and have been found at Walmart locations in Fredericksburg, Virginia and Fort Wright, Kentucky.. . . more

Crayola creates new experience at Mall of America

A 60,000-sq.-ft. Crayola Experience has opened at Mall of America, giving the massive shopping center yet another experiential component to generate traffic.

The Crayola Experience is a family attraction that features 25 hands-on activities inspired by Crayola products and technologies and there is also The Crayola Store offering the world's largest selection of Crayola products and unique souvenirs.. . . more

Tiffany doesn’t sparkle with Q1 misses; will open 11 stores

Tiffany & Co. missed Wall Street expectations for profit and revenue in a lackluster start to fiscal 2016, but still plans to open 11 new stores worldwide.

The retailer reported net earnings of $87 million during the first quarter, down 17% from $105 million the same period a year earlier. Lower gross profit and higher selling, general and administrative (SG&A) expenses drove the reduction in profit.. . . more

Express misses on Q1 earnings, sales

Specialty apparel retailer Express Inc. did not reach Wall Street expectations with declining profit and flat sales in a generally sluggish first quarter of fiscal 2016.

Net income slipped 1% to $12.9 million from $13.1 million in the same quarter the previous fiscal year. Outlet- and IT-related expense growth helped drive down profit.

Net sales stayed essentially flat at $502.9 million, compared to $502.4 million a year earlier. Same-store sales fell 3%, including a 1% dip in e-commerce sales.. . . more

Mars Super Markets to close all stores

Mars Super Markets will close all stores in Maryland, an official said. Mars Super Markets Chairman and CEO Chris D'Anna said in a statement Wednesday that all stores will close by the end of July.. . . more

Uniqlo Says Top Priority Is to Turn Around 'Struggling' U.S. Stores

The head of Uniqlo operator Fast Retailing Co Ltd said revamping the Japanese company’s struggling U.S. operations was a top priority, and that it would focus on raising the casual clothing brand’s profile there.. . . more

Wednesday, May 25, 2016

2016 Top Retail Managers

The listing of the top managers of retail real estate was compiled using responses to NREI's top owners of retail real estate survey, earnings reports and company Web sites. It is based on the total size of the companies' U.S. portfolios as of Dec. 31, 2015.. . . more

EASTERN MASSACHUSETTS REPORT PREVIEW

The 2016 KeyPoint Report for Eastern Massachusetts/Greater Boston, based on our proprietary GRIID™ retail database, is in production. While you’re waiting, here’s a preview:

Vacancy Rate: An additional 553,700 square feet of retail space became vacant this year, resulting in a vacancy rate of 9.1%, a moderate increase from last year’s 8.8% rate. Retail space inventory also gained modestly, with an increase of 0.5%. New shopping centers that opened the prior year continued to phase in additional space, but no major new shopping center opened in the region this year. Big box closings, notably Sam’s Club, JCPenney, and Kmart, were the primary cause of the increase in vacancy this year. Citibank and City Sports departures from the region also added to the vacancy level.. . . more

365 by Whole Foods debuts today

Image result for 365 by Whole Foods store opening365 by Whole Foods Market is scheduled to make its debut today in the Silver Lake section of Los Angeles.

The Austin, Texas-based company has announced plans for two more 365 stores this year — in Lake Oswego, Ore., in mid-July and Bellevue, Wash., in the fall — plus at least 10 more next year.. . . more