Wednesday, August 23, 2017

Sprint taking over 350 former RadioShack stores

Image result for sprint converting radio shack storesSprint is converting approximately 350 of the best performing RadioShack stores across the country to full Sprint retail stores.

In 2015, Sprint moved into 1,435 RadioShack stores to share space with the long-time electronics seller, which had just filed for bankruptcy protection.
But RadioShack continued to have troubles. In January, RadioShack creditors sued Sprint for breach of contract alleging Sprint used confidential data to open competing mobile stores near existing RadioShacks. And in March, RadioShack filed for bankruptcy again.. . . more

DSW sales turn positive

DSW Inc. says it’s prepared for the all-important holiday shopping season, with a solid online setup that’s already reaping rewards, with increases in mobile traffic driving a 27% increase in digital sales.

“Having seen the increased penetration of digital demand, we are confident that we will win this holiday selling season,” said Jared Poff, DSW’s chief financial officer, on the Tuesday earnings call.

Not only is the company seeing increases online, but also in its bricks-and-mortar locations, or warehouses.. . . more

Sears deal will put Kenmore vacuums, DieHard batteries, flashlights on more shelves

Image result for kenmore appliances at searsSears Holdings has inked two more licensing deals that will put a wider range of Kenmore and DieHard products on shelves outside Sears and Kmart stores.

Cleva North America will manufacture vacuum cleaners — including stick, hand and robotic models — and other floor cleaning accessories under the Kenmore and Kenmore Elite brands, Sears said Tuesday in a news release.. . . more

Retail Real Estate Trends 2017, Part 4: Capital Sources Shying Away

Image result for retail real estateThere is some sense in the market that both debt and equity capital is becoming less available for retail properties than 12 months ago.

On the equity side, 31.7 percent of respondents answered that it is less available while 36.5 percent said debt was less available. A plurality (40.5 percent, equity; 38.4 percent debt), said the availability was unchanged. Only 18.1 percent said that equity is more widely available and just 14.5 percent responded that debt is more widely available.. . . more

Forever 21's Downtown Crossing store set to reopen this weekend

Image result for forever 21 downtown crossing storeFashion retailer Forever 21 is set to reopen its store in Boston's Downtown Crossing neighborhood this weekend after an extended closure due to what the company said were HVAC issues.

Downtown groups this week received fliers saying "Forever 21 Washington Street ... we missed you! Re-opening this weekend!". . . more

Walmart dives into voice-activated shopping with Google

Walmart is diving into voice-activated shopping. But unlike online leader Amazon, it's not doing it alone.

The world's largest retailer said Wednesday it's working with Google to offer hundreds of thousands of items from laundry detergent to Legos for voice shopping through Google Assistant. The capability will be available in late September.

It's Google's biggest retail partnership — and the most personalized shopping experience it offers — as it tries to broaden the reach of its voice-powered assistant Home speaker. And it underscores Walmart's drive to compete in an area dominated by Amazon's Alexa-powered Echo device.. . . more

Tuesday, August 22, 2017

Southern New Hampshire KeyPoint Report Preview

While the 2017 KeyPoint Report for Southern New Hampshire, based on our proprietary GRIID™ retail database, is in production, we will again share some of the early results:

Inventory and Vacancy Rate:
The retail inventory in Southern New Hampshire included 29.8 million square feet in 2017. This represents a net decline of 59,400 square feet, or 0.2%, resulting largely from retail demolitions and conversions to non-retail space. During the same period, retailers absorbed large chunks of vacant space in the region, dramatically reducing the level of unoccupied space by more than 400,000 square feet in Southern New Hampshire and cutting the vacancy rate from 10.5% in 2016 to the current level of 9.1%. Some of the larger retailers to fill space include Chunky’s Cinema in Manchester, Hobby Lobby in Nashua, and Ocean State Job Lot in Seabrook. Also a number of retailers plan to open in vacant space later this year, including Cardi’s Furniture and NH1 Motorplex Indoor Karting, both joining Ocean State to absorb most of the vacant Walmart space and the empty Shaw’s location at Southgate Shopping Center.. . . more

Macy's snags eBay exec, cuts 100 jobs amid management shake-up

Macy's has snagged an eBay executive as it shakes up its management and cuts 100 jobs in an effort to reignite slumping sales at the department store chain.

Hal Lawton, senior vice president of North America at eBay, will join Macy's on Sept. 8 as president. The company is expanding its customer insights and data analytics to include inventory replenishment and pricing capabilities.

Both moves suggest Macy's is trying to bulk up its online efforts.. . . more

Walmart, Target and Old Navy tops in awareness — and that's not all

Back-to-school advertising appears to be losing some of its resonance with consumers. 
 
Walmart, Target and Old Navy scored the highest awareness levels among consumers (with children under the age of 18) in a survey of BTS advertising from 30 retailers by YouGov BrandIndex. But many retailers scored less than last year.. . . more

There are 7 ‘sins’ the retail industry keeps committing

Image result for retail sinsCredit Suisse has released a list of "seven retail sins," highlighting some problems faced by retailers that the firm's analysts saw emerge in a slew of earnings reports over the past few weeks.

"Results last week, particularly in the sporting goods space, serve as a reminder of some of the key issues impacting the retail sector," wrote Credit Suisse analyst Seth Sigman in Monday's note to clients. "Our view is that retail is not dead, but needs to change, and take the pain.". . . more

Grocers now sell more than food

Image result for aldifindsMore grocery stores turning to products that have nothing to do with food. The supermarkets are facing slim margins and more competition from everyone from online merchants to organic chains to dollar stores.

Unique items are a way to get shoppers in the door — and to spend money on items that have higher price markups than breakfast cereal, pork chops and canned corn.. . . more

Kohl’s is cutting floor space at half of stores

Kohl's said Tuesday that it is cutting floor space in "nearly half" of its stores as the department-store sector reels in competition with Amazon and nimble fast-fashion retailers.

The Menomonee Falls, Wis.-based retailer said it would make those locations "operationally smaller" by "balancing inventory and adjusting fixtures," part of an ongoing plan to shrink physical stores.. . . more

Malls become models of reinvention to cope with closing stores

Image result for go karts in US mallsWith darkened storefronts pockmarking malls across the country, many are undergoing a dramatic makeover to become destinations for activities. They are adding attractions such as go-cart tracks and glow-in-the-dark indoor golf. Or they are morphing into hubs that offer a blend of offices, classrooms, apartments and shops, and modern town squares where community groups can convene.

It is "less about stores and more about experiences,’’ says Paula Rosenblum, managing partner of the retail advisory company RSR Research. Malls are becoming “centers of activity where people can come and actually find a reason to be there besides shopping.”. . . more