Thursday, June 30, 2016

12 Major Retailers Closing Stores Like Crazy

Image result for sears store closingIt’s the age of Amazon, and brick-and-mortar retailers are feeling the pinch.

Amazon’s dominance—bolstered by mostly lower prices, more options and increased convenience for shoppers–has caused stores across the mall to take a hit. Teen-apparel retailer AĆ©ropostale filed for bankruptcy in May. Later that month, JC Penneyannounced that it would cut payroll and freeze overtime for its employees. The bad news isn’t only recent: In 2015, Penney announced it would close 40 locations, while fellow mall giant Sears has shuttered more than 200 locations over the past two years.. . . more

The Beauty Business Outperforms in Bricks-and-Mortar Retail

Changes in the beauty industry have bolstered the growth of chains like Sephora and Ulta, and transformed the beauty aisles in drug stores. Even big-box retailers like Target employ beauty consultants to answer customer questions and advise on purchasing decisions.

The beauty category is good for retail business and retail real estate.. . . more

Blaze Fast-Fire’d Pizza Set to Open 150th Restaurant as It Builds National Footprint

Image result for blaze pizzaBlaze Fast-Fire’d Pizza, the nation’s leading fast-casual pizza chain, today announced that its 150th restaurant is set to open next month in Houston. With restaurants now open in 31 states and development underway in 48 of the top 50 U.S. markets, the company is planning to open on average one new restaurant every four days – with its milestone 500th location projected to open in about three years.

Founded with two locations in 2012, Blaze Pizza is building momentum and developing a cult following as it expands across the country.  The company currently operates restaurants in 31 states and two Canadian provinces, including the major metropolitan areas of Los Angeles, San Francisco, Chicago, Boston and New York.  . . . more

New store fits into mall's designs for its future

Design Within Reach, a luxury furniture retailer, is hoping for more exposure at the Paramus shopping plaza.Westfield Garden State Plaza is rebuilding one of its entrances and remodeling a prime corner of the Paramus mall to create a showcase space for luxury furniture seller Design Within Reach.

Design Within Reach, a Stamford, Conn.-based chain, is expected to move into a new 12,000-square-foot store at the mall in October. The store is being built on a corner of the mall between Nordstrom and Uniqlo, on a parcel formerly occupied by two restaurants, Joe's American Grill and Papa Razzi.. . . more

Stores accepting food stamps — including Wal-Mart — face stricter rules

U.S. regulators are pushing stricter rules for stores that accept food stamps, ultimately determining which retailers win and lose the billions of taxpayer dollars at stake.

The proposal is throwing gas stations and corner stores into a battle with giants like Wal-Mart Stores Inc. and Kroger Co. over the $74 billion Supplemental Nutrition Assistance Program, or SNAP.. . . more

Another department store retailer is getting a new CEO

It’s the end of an era for Belk Inc.
 
The retailer announced that Tim Belk will retire as CEO of the company in July 2016. Lisa Harper, CEO of Hot Topic, will succeed Belk as CEO, effective July 5.  
 
The news comes less than a year after Belk, which operates 293 stores in 16 Southern states, was acquired in a $3 billion deal by Sycamore Partners. The private equity firm also owns Hot Topic.. . . more

Kellogg's will open all-day cereal restaurant in NYC

Image result for kellogg's cereal restaurantKellogg's is giving you the chance to celebrate 4th of July weekend with the ultimate sign of independence: breakfast for dinner. Or lunch. Or any meal, really.

Snap, crackle and pop your way over to the company's brand new cereal restaurant in Times Square. Opening July 1, Kellogg's NYC will serve breakfast all day, every day.. . . more

Which trendy retailer is about to open its first N.J. location?

MUJI.jpgThe minimalist Japanese lifestyle brand Muji is set to open a location at Westfield Garden State Plaza in Paramus this August, the company announced on Wednesday. It will be the emerging retailer's twelfth store in the United States — and the first to open in New Jersey.

Since its inception in 1980, Muji has opened nearly 400 stores in Japan and more than 300 others around the world, including 11 in the U.S. The  8,600-square-foot store in Paramus will be the company's first East Coast location outside of New York City, where there are three Muji stores.. . . more

Wednesday, June 29, 2016

US Retail Construction Jumps 24 Percent

Image result for retail constructionAll of the major sectors of non-residential commercial real estate saw significant year-over-year increases in construction activity during the first quarter, but with a 24.4% boost, it was retail which led the way. Much of this new activity in retail was driven by retailers’ need to quickly respond to the ways e-commerce is reshaping consumers’ shopping habits and desires, according to a new outlook report from Chicago-based JLL. And although new construction has picked up, much of the recent spending is for the renovation of existing properties.

“Shoppers now are more informed than they have ever been because of the Internet,” Steve Jones, international director for project management services, tells GlobeSt.com. And they increasingly patronize the stores and restaurants that provide the most convenience, low costs, and the best customer experience. As a result, the best retailers “continue to figure out what the customers are looking for and try new things.” . . . more