Tuesday, January 31, 2017

How retail is bringing shoppers back for more

retailWhy someone returns to a store or shopping center can be hard to peg but most shoppers want stores to be a hub for convenience and entertainment where experiential retail merges with things to do outside of shopping.

According to a recent Coldwell Banker Commercial Affiliates survey, shoppers still value traditional brick-and-mortar shopping experiences. In fact, nearly half of Americans prefer to make purchases in a store instead of shopping online.. . . more

Garrett Popcorn owner to buy Frango from Macy's, returning brand to local ownership

Frango ShopGarrett Brands, the owner of Garrett Popcorn Shops, will buy the Frango chocolate brand from Macy's for a undisclosed sum, the companies announced Monday.

The purchase would return the Frango brand, once the trademark premium chocolate brand of Marshall Field's, to local ownership.. . . moreGarrett Brands to purchase Frango from Macy's

Hennes & Mauritz Rolls Back on New Store Openings

Image result for h&M storeHennes & Mauritz AB said it was abandoning its target of opening 10% to 15% more physical stores each year—a blistering pace that turned it into one of the world’s largest clothing retailers—and instead targeting local-market sales growth both online and off.

H&M said the shifts, disclosed Tuesday along with another strong quarter of earnings and sales growth, will better capture both physical and online sales growth around the world. The changes also come as H&M struggled in the last quarter of the year in some of its traditionally strong markets, including the U.S., Europe and China.. . . more

Walgreens and Rite Aid to divest more stores to get FTC okay

Concerns about regulatory approval have weighed on Walgreens Boots Alliance’s bid to buy a top drugstore rival, Rite Aid, as the two cut the price of the deal while pushing back the expected closing date by six months.

The ultimate purchase price will be determined by how many more Rite Aid stores the combined company will sell to win antitrust approval above the 1,000 that Walgreens had previously agreed to. Under the new agreement, Walgreens said that it was willing to sell up to 1,200 stores.. . . more

Shoes.com shuts down operations

In an abrupt move, Shoes.com pulled the plug on its operations on Friday, Jan. 27.
 
The company, which said in September it was preparing for its next phase of growth, took its three e-commerce businesses, Shoes.com, ShoeMe.ca and OnlineShoes.com, offline, and closed the doors to two brick-and-mortar locations in Vancouver and Toronto.. . . more

Wal-Mart opts for free, faster shipping on necessities

Wal-Mart is replacing a program that offered free shipping but had an annual fee with one that has a lower free shipping threshold and faster delivery as it hopes to answer Amazon's powerful Prime membership success.

The retailer says it will reduce shipping time to two days on 2 million of its most popular items including essentials like diapers and pet food as well hot toys and Electronics. Wal-Mart's average shipping time has been three to five days. Starting Tuesday morning, it's also reducing the spending necessary for free shipping to $35 from $50.. . . more

Monday, January 30, 2017

CBL Acquires Five Sears Stores for Future Redevelopment Through Sale-Leaseback

Image result for sears brookfield squareCBL & Associates Properties, Inc. today announced that it has closed on a sale-leaseback transaction for five Sears department stores and two Sears Auto Centers located at CBL malls, providing CBL with control of these locations for future redevelopment.

CBL has acquired the locations for a total consideration of $72.5 million. Sears will continue to operate the department stores under new 10-year leases. Under the terms of the leases, CBL will receive aggregate initial base rent of approximately $5.075 million, with Sears also responsible for paying common area maintenance charges, taxes, insurance and utilities.. . . more

Dollar General Debuts First DGX Store In Nashville, Another To Open Soon In Raleigh

DGX-NashvilleDollar General has opened its first small-format store—called DGX—at 2034 West End Avenue in Nashville, Tennessee, at the corner of 21st and West End. Construction began on the store late last year. Dollar General plans to open a second DGX in Raleigh, North Carolina, in early 2017.

The new DGX store format, which includes about 3,400 s.f. of sales floor space, provides urban shoppers with a focused selection of consumable items and instant consumption options in a compact format, according to the Goodlettsville, Tennessee-based retailer.. . . more

Soft Surroundings adding 17 stores in 2017

Soft Surrounding plans to add 17 stores this year, its biggest expansion to date.

The Creve Coeur-based women’s apparel and home d├ęcor chain is adding stores in Las Vegas, Nev.; Columbus, Ohio; Estero, Fla.; Knoxville, Tenn.; Louisville, Ky.; Detroit; and Baton Rouge, La., this year, the company said Wednesday. More new stores will be announced later this year.. . . more

Tractor Supply Company hits store milestone

Tractor Supply Company is celebrating the opening of its 1,600th store, which opened in Brentwood, Calif.
 
Tractor Supply has been in business for 79 years, today standing 24,000 team members strong, and with retail stores in every state (minus Alaska).
 
The retailer opened 113 new stores in 2016 and is still going strong in 2017.. . . more

Miami-Dade commission grants first approval for American Dream Miami project

If the first public hearing for American Dream Miami is an indicator of what’s to come, the developer of the largest proposed mall and theme park project in North America is in for a long battle.

Triple Five, whose principals developed and own the Mall of America in Minnesota, is looking to build 6.2 million square feet of shopping and entertainment space, including several amusement parks, along with 2,000 hotel rooms. The project could cost an estimated $4 billion,  generate 32,000 in construction jobs and over 14,000 full-time equivalent jobs and $237 million in annual hotel bed taxes, Triple Five executives say.. . . more

Walgreens, Rite Aid extend end date for merger

Walgreens Boots Alliance and Rite Aid on Monday morning extended their previously announced definitive merger agreement under which Walgreens Boots Alliance will acquire all outstanding shares of Rite Aid.
 
The retail pharmacy operations also restructured a new deal that would value Rite Aid at between about $6.8 billion and $7.4 billion, depending on required store divestitures, down from an initial acquisition cost of $9.4 billion.. . . more

How a Millennial Mindset Is Helping This 116-Year-Old Retailer

Nordstrom's NYC flagship, set to debut in 2019.At a store in Vancouver, shoppers can get restaurant recommendations and sightseeing suggestions from a concierge. They can get a party-worthy coiffure, engage in one-on-ones with personal stylists in a private shopping suite, and have purchases delivered downtown. But such amenities don't come with an eye-popping price tag at some ritzy apparel boutique frequented by the 1% -- they're simply part of the consumer experience at Nordstrom.

The 116-year-old department store chain has spent decades perfecting its reputation as the customer-service destination, the place where top-notch store associates are willing to cater to a shopper's every need. And in recent months, as competitors close stores and watch sales sputter, Seattle-based Nordstrom has introduced even more strategies designed to entice shoppers, millennials in particular, to spend at its 345 full-price and discount locations.. . . more

US consumer spending up 0.5 percent in December

Image result for US consumer spendingConsumers boosted spending in December at the fastest pace in three months, giving the economy some momentum going into 2017.

Consumer spending advanced 0.5 percent in December, a major improvement over the modest 0.2 percent gain in November, the Commerce Department reported Monday. It was the best showing since spending jumped 0.7 percent in September.. . . more

Friday, January 27, 2017

Walgreens CEO: Company in 'active discussions' to get approval for Rite Aid deal

Image result for walgreens and rite aid With the deadline for the deal set to expire Friday, Jan. 27, Walgreens Boots Alliance CEO Stefano Pessina told shareholders attending the Walgreens Boots Alliance annual meeting Thursday morning that the board of directors for both Walgreens and Rite Aid were in "active" discussions toward getting the deal approved even as the Federal Trade Commission continues to deliberate over the proposed retail pharmacy merger.
 
"At this time, we are actively engaged in discussion with Rite Aid regarding how to proceed," Pessina said. "These discussions include taking into account anything that is required to gain approval of the transaction.". . . more

These retail brands are tops in brand engagement

Soaring customer expectations are creating an increasingly challenging environment for brands seeking engagement.
 
That’s according to the 22nd annual Brand Keys Customer Loyalty Engagement Index, which recognizes the brands that receive the highest loyalty and engagement assessments and surpass competitors for "delighting" customers.. . . more