Tuesday, February 28, 2017

Seaport developers want retail sans regulation

Seaport Developers Want Retail Sans RegulationHigh-profile tenants like Equinox, ShowPlace Theatres and Big Night Entertainment have signed to One Seaport Square. The trio will open later this year in the 1.1M SF development, a sign that significant retailers are attracted to the market.

But basic services like a dry cleaners and a grocery store are still absent, a weak spot in the Seaport's path to becoming an established neighborhood, according to panelists at Bisnow’s State of the Seaport event last week.

“The challenge of the grocery store is enormous," Drew Co. president John Drew said. "We’ve tried and failed several times.”. . . more

Restaurants tap into the power of the app

pizza appWaiting in line or making a phone call to order food from a restaurant may soon be a relic of the past, as the increased availability of digital ordering enables more consumers to get the food they want, when they want it, with just a few scrolls, taps and clicks.

It’s a trend that’s proving beneficial for time-crunched consumers, and even better for the restaurant industry, executives at market research firm The NPD Group said.. . . more

Warren Buffett Baffled by Retail

warren buffett Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.Mandatory Credit: Photo by Andrew Harnik/AP/REX/Shutterstock (5813166t)Warren BuffettHillary Clinton presidential campaign, Omaha, USA - 01 Aug 2016Berkshire Hathaway Chairman and CEO Warren Buffett speaks at a rally for Democratic presidential candidate Hillary Clinton at Omaha North High Magnet School in Omaha, NebConfused by the retail business?

You’re in good company. Warren Buffett is at a loss too — an unusual state for the superstar investor who turned a New Bedford, Mass., textile company into a portfolio of firms worth more than $420 billion under the Berkshire Hathaway umbrella.. . . more

Starbucks’ new Reserve bars push high-end coffee another notch higher

Starbucks Reserve Nicaragua Monimbo coffee is siphon brewed by Bri Sternquist at the new Reserve bar in the Starbucks store at First Avenue and University Street in downtown Seattle. The process heats water to a boil, seals a top chamber, creating a vacuum and causing water to travel into the top chamber of the siphon, where they place the coffee which flows back into the vessel before serving. (Mike Siegel / The Seattle Times)On Tuesday, Starbucks is opening one of its regular stores at this busy intersection — but with the addition of a fancy new setup that will serve Starbucks’ high-end Reserve coffee beans, brewed with methods including pour-over, siphon and coffee press.

It’s what Starbucks is calling a Reserve coffee bar, located in one of its traditional, “core” stores.
Starbucks has rolled out the concept in 20 stores in a few U.S. cities, plus an additional 26 internationally. This is Seattle’s first core store with a Reserve bar.

Eventually, Starbucks aims to install such Reserve bars in a fifth of all its stores.. . . more

America's favorite retailer is...

Image result for dillard's storeShoppers still love Costco ... but they also have a new favorite store.

Both the warehouse giant and department store Dillard's scored an 83 out of 100 on the latest American Customer Satisfaction Index, tying for the top spot among department and discount stores and specialty retail stores. . . . more

As online grows, Kohl’s looks to smaller stores with less inventory

Image result for kohl's small storesKohl’s Corp. is moving aggressively to reduce the size of its stores following store sales declines in the fourth quarter and for the fiscal year ended Jan. 28.

Kohl’s operates three classes of stores. The standard store size is about 88,000 square feet—970 of Kohl’s fleet of 1,155 stores were this size as of the third quarter. 178 stores were in the range of 55,000 to 68,000 square feet, which the company calls its small size. The remaining seven stores were 35,000 square feet—a size Kohl’s began testing in mid-2016. For the full fiscal year, Kohl’s opened nine of the smallest format and closed 19 larger stores. . . . more

Target to take hit to profit as it spends to close gap with rivals

FILE PHOTO -  A newly constructed Target store is shown in San Diego, California May 17, 2016.  REUTERS/Mike Blake/File PhotoTarget Corp gave a full-year profit forecast far below market expectations on Tuesday as the retailer plans to pour more money into improving its online platform and cutting prices to stay relevant amid fierce competition.

The company also forecast a surprise drop in full-year sales at stores open for at least 12 months and reported weaker-than-expected quarterly same-store sales.. . . more

Monday, February 27, 2017

Look out Sears! JC Penney is coming for your shoppers

Shoppers browse appliances at the JC Penney store inside the Roosevelt Field Mall in Garden City, New York.J.C. Penney is taking its head-to-head battle with Sears one stop further.

Roughly one year after making its return to the appliance category, Penney's will begin testing a series of home installation initiatives that include heating, ventilation and air conditioning (HVAC). Meanwhile, it will expand its appliance showrooms to another 100 locations, up from its current 500. It will also add new brands to the mix.. . . more

Starbucks closes last two Evolution Fresh stores

Starbucks opened an Evolution Fresh store at Bellevue Square in 2012. That one closed in September, and the company said Friday it will close the two remaining locations. (Greg Gilbert/The Seattle Times)Starbucks is closing the remaining two Evolution Fresh stores, though the company will continue to produce the packaged juices sold under that brand name.

Evolution Fresh packaged juices will continue to be sold at Starbucks and grocery stores.
The coffee giant bought juice company Evolution Fresh in 2011 for $30 million, intending to roll out the juices in its coffee shops nationwide and to include them in new Evolution Fresh stores.. . . more

As Crazy As It Seems Dying Sears Has Opened This New Store Concept -- Take a Look

Image result for DieHard Auto CenterIs the dying Sears Holding Corp. back in growth mode? Apparently it's having visions that all is just fine and dandy.

With little fanfare, Sears opened a full-service auto care facility called DieHard Auto Center Driven by Sears in San Antonio last week. The news of its debut was first reported by Automotive News. Similar to a Pep Boys, Sears' auto service stop provides oil changes, tire replacement and vehicle repairs and assessments. Unlike Sears Auto Centers, the Diehard Auto Center isn't attached to a Sears store or in a parking lot of one. . . . more

Family Christian book chain closing its 240 U.S. stores

Family Christian, the biggest U.S. Christian bookstore chain, said on Thursday it was going out of business and planned to close its 240 stores across 36 states.

The chain filed for Chapter 11 bankruptcy in February 2015 with more than $120 million in debt in the face of a sales slump amid growing competition from online stores.. . . more

J.C. Penney to close 130-140 stores

Image result for jc penney store closingDespite reporting its first quarterly profit since 2010, J.C. Penney announced its biggest number of store closings in recent history on Friday, a move that will result in the retailer exiting some smaller markets entirely.

Penney said it will close 130 to 140 stores over the next few months. That represents about 13 percent of its 1,014 stores. Those stores generated less than 5 percent of total annual sales and were unprofitable, the company said.. . . more