Retail Dive
CVS on Tuesday announced that its BeautyIRL concept will be expanding to nearly 50 stores by the end of the year. The concept, which features beauty services by Glamsquad, has been piloted at four stores since last year and will launch in "key markets," including New York City, Los Angeles, Miami and Boston, according to a press release. As a result of the partnership, CVS also snagged an exclusive on GSQ by Glamsquad, a line of private label beauty products from the startup, which will be sold in those stores.. . . more
Tuesday, October 22, 2019
Ikea’s transformation plans include brick-and-mortar
Chain Store Age
Ikea is preparing for an omnichannel future that will blend digital and physical customer interactions.
In a recent interview with LinkedIn, Jesper Brodin, CEO of Swedish home furnishings giant Ikea, discussed his company’s strategy for brick-and-mortar and digital retailing, as well as topics such as workforce automation and environmental sustainability. Following are highlights of Brodin’s commentary in these areas.. . . more
Ikea is preparing for an omnichannel future that will blend digital and physical customer interactions.
In a recent interview with LinkedIn, Jesper Brodin, CEO of Swedish home furnishings giant Ikea, discussed his company’s strategy for brick-and-mortar and digital retailing, as well as topics such as workforce automation and environmental sustainability. Following are highlights of Brodin’s commentary in these areas.. . . more
Cyber Monday is exciting deal-hungry shoppers more than Black Friday this holiday season
CNBC
With online shopping gaining ground year after year, Cyber Monday has surpassed Black Friday as the preferred day for deals around the holiday season for all age groups, according to a new study.
Deloitte’s study said 53% of people will rely on Cyber Monday for discounts, while just 44% say they’re planning to snag promotions on Black Friday this year.. . . more
With online shopping gaining ground year after year, Cyber Monday has surpassed Black Friday as the preferred day for deals around the holiday season for all age groups, according to a new study.
Deloitte’s study said 53% of people will rely on Cyber Monday for discounts, while just 44% say they’re planning to snag promotions on Black Friday this year.. . . more
How deepening discounts and thinning profit margins could take their toll this holiday season
The Washington Post
The so-called “retail apocalypse” has become a blanket phrase for the industry’s woes, which so far have resulted in more than 50 bankruptcies and 21,000 store closures since 2017.
Now some analysts are warning of a “retail vortex.”
A mix of thinning profits, soaring returns and ever-growing markdowns puts already-struggling retailers at risk of further decline this holiday season, according to DynamicAction, a retail software firm that analyzed more than $11.6 billion in online transactions from January to September.. . . more
The so-called “retail apocalypse” has become a blanket phrase for the industry’s woes, which so far have resulted in more than 50 bankruptcies and 21,000 store closures since 2017.
Now some analysts are warning of a “retail vortex.”
A mix of thinning profits, soaring returns and ever-growing markdowns puts already-struggling retailers at risk of further decline this holiday season, according to DynamicAction, a retail software firm that analyzed more than $11.6 billion in online transactions from January to September.. . . more
Monday, October 21, 2019
Destination Maternity files for bankruptcy
CNBC
Destination Maternity, a leading retailer of maternity wear, filed for bankruptcy Monday, buckling under the weight of an onerous debt load and struggling to compete with better capitalized competition.
Destination Maternity, a leading retailer of maternity wear, filed for bankruptcy Monday, buckling under the weight of an onerous debt load and struggling to compete with better capitalized competition.
Destination Maternity has a market capitalization of nearly $5 million, according to FactSet. It has $260 million in total assets and $244 million in total debt according, to its bankruptcy filing. For fiscal 2018, it reported a net loss of $14.3 million on sales of $383.8 million according to its most recent annual report. . . . more
The Vitamin Shoppe Unveils New Innovation Retail Concept
PR Newswire
The Vitamin Shoppe, an omni-channel specialty retailer of nutritional products, announced today the opening of a new innovation store in Edgewater, N.J. The store brings a new vision to wellness retail, incorporating technology-driven innovations in product, service, and education into The Vitamin Shoppe experience, while elevating the customer journey through a simplified modern design and personalized elements.
The Vitamin Shoppe currently plans to open five new stores in a similar format through January 2020.. . . more
The Vitamin Shoppe, an omni-channel specialty retailer of nutritional products, announced today the opening of a new innovation store in Edgewater, N.J. The store brings a new vision to wellness retail, incorporating technology-driven innovations in product, service, and education into The Vitamin Shoppe experience, while elevating the customer journey through a simplified modern design and personalized elements.
The Vitamin Shoppe currently plans to open five new stores in a similar format through January 2020.. . . more
Nordstrom’s Grand NYC Opening
Footwear News
This week, Nordstrom makes the biggest move in its 118-year history with the debut of a 320,000-sq.-ft. New York women’s flagship on 57th Street, just steps away from Central Park and Columbus Circle — and directly across the street from its men’s location. Shoes will play a starring role inside the seven-level store, which sits at the base of the tallest residential building in the Western Hemisphere.
The move will dramatically reshape the city’s department store landscape at a time when nearby rivals, including Saks Fifth Avenue, Bergdorf Goodman and Bloomingdale’s, are stepping up their own renovations and unveiling flashy initiatives.. . . more
This week, Nordstrom makes the biggest move in its 118-year history with the debut of a 320,000-sq.-ft. New York women’s flagship on 57th Street, just steps away from Central Park and Columbus Circle — and directly across the street from its men’s location. Shoes will play a starring role inside the seven-level store, which sits at the base of the tallest residential building in the Western Hemisphere.
The move will dramatically reshape the city’s department store landscape at a time when nearby rivals, including Saks Fifth Avenue, Bergdorf Goodman and Bloomingdale’s, are stepping up their own renovations and unveiling flashy initiatives.. . . more
At Costco 'everything resonates with the consumer'
Retail Dive
It's more common to find a struggling retailer than one that's comfortably surviving, let alone thriving.
While a good portion of retailers could be classified as "penny stock," with some companies like Pier 1, J.C. Penney and Ascena even receiving threats of stock exchange delisting for trading below the requirements, Costco has been trading well above $200 since January, with it teetering around $300 more recently. The club retailer also isn't facing massive store closures. While some other players, namely mall-based retailers, overexpanded and are now contracting, Costco has opened new warehouses at a steady pace. . . . more
It's more common to find a struggling retailer than one that's comfortably surviving, let alone thriving.
While a good portion of retailers could be classified as "penny stock," with some companies like Pier 1, J.C. Penney and Ascena even receiving threats of stock exchange delisting for trading below the requirements, Costco has been trading well above $200 since January, with it teetering around $300 more recently. The club retailer also isn't facing massive store closures. While some other players, namely mall-based retailers, overexpanded and are now contracting, Costco has opened new warehouses at a steady pace. . . . more
American Dream Mall Is a Nightmare for New Jersey Shopping Centers
NREI
The malls of northern New Jersey, go-to destinations for shoppers from nearby New York City for more than half a century, are trying to find ways to stand out as a colossal new neighbor arrives to compete for customers -- and their dollars.
After 16 years of false starts and multiple developers, the American Dream retail and amusement complex in New Jersey’s Meadowlands is scheduled to open its doors on Oct. 25. Owner Triple Five Group is expecting 40 million visitors a year once the full mall is up and running, and if it attracts even a fraction of that traffic, it could spell bad news for some of the nine nearby malls already competing for the greater New York metropolitan area’s flushest residents.. . . more
The malls of northern New Jersey, go-to destinations for shoppers from nearby New York City for more than half a century, are trying to find ways to stand out as a colossal new neighbor arrives to compete for customers -- and their dollars.
After 16 years of false starts and multiple developers, the American Dream retail and amusement complex in New Jersey’s Meadowlands is scheduled to open its doors on Oct. 25. Owner Triple Five Group is expecting 40 million visitors a year once the full mall is up and running, and if it attracts even a fraction of that traffic, it could spell bad news for some of the nine nearby malls already competing for the greater New York metropolitan area’s flushest residents.. . . more
History made: Walgreens takes off with first drone delivery
Chain Store Age
Walgreens is officially in flight with a pilot of on-demand drone deliveries in Virginia.
As of Oct. 18, 2019, the drugstore giant is live with a trial of “store to door” delivery of health and wellness, food and beverage and convenience items via drone delivery in Christianburg, Va. The very first drone-based delivery from Walgreens went to local residents Michael and Kelly Collver, who received a cough and cold pack including Tylenol, Halls cough drops, tissues, Emergen-C and bottled water.. . . more
Walgreens is officially in flight with a pilot of on-demand drone deliveries in Virginia.
As of Oct. 18, 2019, the drugstore giant is live with a trial of “store to door” delivery of health and wellness, food and beverage and convenience items via drone delivery in Christianburg, Va. The very first drone-based delivery from Walgreens went to local residents Michael and Kelly Collver, who received a cough and cold pack including Tylenol, Halls cough drops, tissues, Emergen-C and bottled water.. . . more
Saks Fifth Avenue parent Hudson’s Bay to go private
Chain Store Age
Hudson's Bay Company has agreed to be taken private by a group of its shareholders after they upped their offer.
The group is headed up by Richard Baker, executive chairman of the Canadian department store company, and also includes Rhone Capital LLC, WeWork Property Advisors, Hanover Investments and Abrams Capital Management. The investors, who together own 57% of Hudson’s Bay, have agreed to pay C$10.30 ($7.84) a share in cash for shares outstanding. The offer represents an increase of 9% over the group’s initial proposal in June of $9.45 per share, which a special panel of Hudson’s Bay had deemed “inadequate.”. . . more
Hudson's Bay Company has agreed to be taken private by a group of its shareholders after they upped their offer.
The group is headed up by Richard Baker, executive chairman of the Canadian department store company, and also includes Rhone Capital LLC, WeWork Property Advisors, Hanover Investments and Abrams Capital Management. The investors, who together own 57% of Hudson’s Bay, have agreed to pay C$10.30 ($7.84) a share in cash for shares outstanding. The offer represents an increase of 9% over the group’s initial proposal in June of $9.45 per share, which a special panel of Hudson’s Bay had deemed “inadequate.”. . . more
US nonstore retail sales in September see largest year-over-year growth in decades
Digital Commerce 360
Last month, U.S. nonstore retail sales—a proxy measure for ecommerce performance—increased 15.6% from September 2018, according to an Internet Retailer analysis of U.S. Department of Commerce advance monthly figures released Wednesday. This is the highest year-over-year September growth rate since 2000, when it was a 16.4% increase, and nearly double the 8.2% increase in 2018.
Even after excluding an Internet Retailer estimate for fuel sales from the non-seasonally adjusted nonstore spending data, September’s year-over-year growth remained the same at 15.6% and is the highest rate for the month since 1999, when the comparable increase was 17.1%. . . . more
Last month, U.S. nonstore retail sales—a proxy measure for ecommerce performance—increased 15.6% from September 2018, according to an Internet Retailer analysis of U.S. Department of Commerce advance monthly figures released Wednesday. This is the highest year-over-year September growth rate since 2000, when it was a 16.4% increase, and nearly double the 8.2% increase in 2018.
Even after excluding an Internet Retailer estimate for fuel sales from the non-seasonally adjusted nonstore spending data, September’s year-over-year growth remained the same at 15.6% and is the highest rate for the month since 1999, when the comparable increase was 17.1%. . . . more
Friday, October 18, 2019
Sparkling cover graces new Neiman Marcus Christmas Book
The Dallas Morning News
Fantasy gifts are still part of the annual Neiman Marcus Christmas Book, but this year a layer of travel and experiences elevate the off-the-charts gift ideas that the Dallas-based luxury retailer has been concocting since 1926.
Who wouldn’t want to design a pair of Christian Louboutins? If you can do it in Paris and get to pick five more pairs from the current collection to take home, well, that’s dreamy. That costs $125,000.. . . more
Fantasy gifts are still part of the annual Neiman Marcus Christmas Book, but this year a layer of travel and experiences elevate the off-the-charts gift ideas that the Dallas-based luxury retailer has been concocting since 1926.
Who wouldn’t want to design a pair of Christian Louboutins? If you can do it in Paris and get to pick five more pairs from the current collection to take home, well, that’s dreamy. That costs $125,000.. . . more
Have Giant Food and Stop & Shop nailed ‘frictionless’ checkouts?
RetailWire
Retail Business Services, the technology services arm of Ahold Delhaize USA, has announced that its proprietary ScanIt Mobile frictionless checkout technology is being rolled out to nearly 30 of the grocer’s stores by the end of the year. The tech is being deployed at all of the new Giant Heirloom Markets and select Stop & Shop stores.
Customers using the ScanIt mobile app walk shop the store scanning products they wish to purchase as they go. When finished, customers go through a designated checkout lane where they see a “payment approved” message before exiting the store. Payments are processed through customers’ mobile wallets. The service accepts Apple Pay, Google Pay, PayPal and Venmo. . . . more
Retail Business Services, the technology services arm of Ahold Delhaize USA, has announced that its proprietary ScanIt Mobile frictionless checkout technology is being rolled out to nearly 30 of the grocer’s stores by the end of the year. The tech is being deployed at all of the new Giant Heirloom Markets and select Stop & Shop stores.
Customers using the ScanIt mobile app walk shop the store scanning products they wish to purchase as they go. When finished, customers go through a designated checkout lane where they see a “payment approved” message before exiting the store. Payments are processed through customers’ mobile wallets. The service accepts Apple Pay, Google Pay, PayPal and Venmo. . . . more
Walmart delves into new tech-enabled healthcare format
Chain Store Age
Walmart has big plans for its role in the health-and-wellness space.
Chain Store Age recently had an interview with the discount giant, which in September launched a new, 10,000-sq.-ft., freestanding health-and-wellness facility next to its store in Dallas, Georgia. Walmart Health is designed to provide “low, transparent pricing” for key health services, regardless of insurance status, and uses technology to streamline scheduling, check-in and payment. . . . more
Walmart has big plans for its role in the health-and-wellness space.
Chain Store Age recently had an interview with the discount giant, which in September launched a new, 10,000-sq.-ft., freestanding health-and-wellness facility next to its store in Dallas, Georgia. Walmart Health is designed to provide “low, transparent pricing” for key health services, regardless of insurance status, and uses technology to streamline scheduling, check-in and payment. . . . more
The department store of the 21st century isn't Macy's
Retail Dive
In 2005, parent company Federated Department Stores (later renamed Macy's) was embarking on an expansion that brought its footprint to some 950 department stores, along with approximately 700 bridal and formalwear stores.
That appears to have been a mistake.
In recent years, Macy's has gone to great effort to undo that expansion, closing up 100 stores in a brick-and-mortar contraction that, despite executives' insistence to the contrary, some analysts say is far from over.. . . more
In 2005, parent company Federated Department Stores (later renamed Macy's) was embarking on an expansion that brought its footprint to some 950 department stores, along with approximately 700 bridal and formalwear stores.
That appears to have been a mistake.
In recent years, Macy's has gone to great effort to undo that expansion, closing up 100 stores in a brick-and-mortar contraction that, despite executives' insistence to the contrary, some analysts say is far from over.. . . more
What Retail Apocalypse? 26 Big Retailers To Grow This Year
Investor's Business Daily
Don' t let doom-and-gloom retail news cause you might miss out on a big S&P 500 opportunity — in retail of all places.
Retailers in the S&P 500 reported opening 2,976 stores in their latest annual periods, nearly triple the 1,020 that they closed, according to an IBD analysis of data from S&P Global Markets Intelligence. Granted, this only includes big-name retailers that disclosed their store openings and closings, but it still shows bright spots in physical retail. Major store openers include discounter Dollar General, Dollar Tree and The Gap.. . . more
Don' t let doom-and-gloom retail news cause you might miss out on a big S&P 500 opportunity — in retail of all places.
Retailers in the S&P 500 reported opening 2,976 stores in their latest annual periods, nearly triple the 1,020 that they closed, according to an IBD analysis of data from S&P Global Markets Intelligence. Granted, this only includes big-name retailers that disclosed their store openings and closings, but it still shows bright spots in physical retail. Major store openers include discounter Dollar General, Dollar Tree and The Gap.. . . more
U.S. Retail Construction Levels Remain Well Below Pre-Recession Levels
NREI
With the continued barrage of retail bankruptcies, stores closures, repositionings and rightsizings of store fleets—and the fact that many experts say the U.S. is over-retailed—it probably comes as no surprise that retail construction levels remain well below pre-recession levels.
“Another factor is with some of these larger shopping centers, the development is focused more on building complementary property types,” notes Alexander Levy, a consultant at research firm CoStar Group Inc. “You might see a mall and they will add on apartments or offices or hotels nearby and then it becomes more of a mixed-use property. That’s been growing coming out of the recession.”. . . more
With the continued barrage of retail bankruptcies, stores closures, repositionings and rightsizings of store fleets—and the fact that many experts say the U.S. is over-retailed—it probably comes as no surprise that retail construction levels remain well below pre-recession levels.
“Another factor is with some of these larger shopping centers, the development is focused more on building complementary property types,” notes Alexander Levy, a consultant at research firm CoStar Group Inc. “You might see a mall and they will add on apartments or offices or hotels nearby and then it becomes more of a mixed-use property. That’s been growing coming out of the recession.”. . . more
Lampert helps bankroll Sears as woes persist after bankruptcy
Reuters
U.S. retailer Sears has borrowed about $150 million from lenders, including its billionaire owner Eddie Lampert, as it racks up losses less than a year after it emerged from bankruptcy protection, people familiar with the matter said.
The new financing will help stock Sears’ store shelves for the holiday shopping season, as it struggles to become profitable. Lampert is no stranger to bankrolling Sears, having extended loans through his hedge fund ESL Investments Inc to the department store chain over the past decade until its financial collapse last year.. . . more
U.S. retailer Sears has borrowed about $150 million from lenders, including its billionaire owner Eddie Lampert, as it racks up losses less than a year after it emerged from bankruptcy protection, people familiar with the matter said.
The new financing will help stock Sears’ store shelves for the holiday shopping season, as it struggles to become profitable. Lampert is no stranger to bankrolling Sears, having extended loans through his hedge fund ESL Investments Inc to the department store chain over the past decade until its financial collapse last year.. . . more
Thursday, October 17, 2019
Is e-grocery less convenient than shopping in stores?
RetailWire
A Bain & Co. study concludes the reason online penetration remains so low in the grocery category versus others is because in-store shopping is still far more convenient.
The findings based on a Google and Bain survey of more than 8,000 U.S. shoppers include:
A Bain & Co. study concludes the reason online penetration remains so low in the grocery category versus others is because in-store shopping is still far more convenient.
The findings based on a Google and Bain survey of more than 8,000 U.S. shoppers include:
Planning: While e-commerce sites should make researching, list building and list sharing easier online, consumers remain “highly-dependent” on analog tools such as combing circulars and writing lists on paper. . . . more
Sole survivors: 5 national chains that outlasted their peers
Retail Dive
If only being the last competitor left in a field was as unambiguously secure as it sounds on its face. It seems like the dogfight should be over, that the last survivor should be able to revel in its status as the winner, and reap the rewards. The reality is more complicated.
There are some in that position today who are relatively stable and strong, such as Dick's Sporting Goods and Best Buy, whose closest competitors in scale and proportion have fallen. Even so, their market position and future isn't as secure as it once seemed.. . . more
If only being the last competitor left in a field was as unambiguously secure as it sounds on its face. It seems like the dogfight should be over, that the last survivor should be able to revel in its status as the winner, and reap the rewards. The reality is more complicated.
There are some in that position today who are relatively stable and strong, such as Dick's Sporting Goods and Best Buy, whose closest competitors in scale and proportion have fallen. Even so, their market position and future isn't as secure as it once seemed.. . . more
Walmart relaunches online toy 'lab'
Retail Dive
Walmart is reviving its online venue that lets kids take a closer look at popular toys ahead of the 2019 holiday season.
Walmart is reviving its online venue that lets kids take a closer look at popular toys ahead of the 2019 holiday season.
The retailer partnered with interactive entertainment company Eko to launch the site, dubbed Walmart Toys Lab. The two companies formed a joint venture last year to create interactive programming, and originally launched the toy lab last holiday season. . . . more
Study: Two channels poised for fastest store growth
Chain Store Age
Consumers’ increasing focus on price and speed bodes well for two types of brick-and-mortar chains.
According to new data from retail analytics platform Edge by Ascential, discount and convenience stores in the U.S. are projected to grow faster than all other offline retail channels over the next five years. . . . more
Consumers’ increasing focus on price and speed bodes well for two types of brick-and-mortar chains.
According to new data from retail analytics platform Edge by Ascential, discount and convenience stores in the U.S. are projected to grow faster than all other offline retail channels over the next five years. . . . more
Primark tells customers not to buy its products online
Yahoo
Fans of the discount clothing chain have longed for Primark to launch an online shop and yesterday, we thought our prayers had been answered.
Though it wasn’t quite a Primark e-commerce store, Amazon started selling select items from Primark’s Atmosphere range via third party sellers. As long as you have Prime, you can get the items the very next day, no leaving the house required.
As it turns out, there’s a catch. The prices were higher than in-store, and now Primark has taken the unprecedented step of issuing a statement warning customers against buying its products on Amazon.. . . more
Fans of the discount clothing chain have longed for Primark to launch an online shop and yesterday, we thought our prayers had been answered.
Though it wasn’t quite a Primark e-commerce store, Amazon started selling select items from Primark’s Atmosphere range via third party sellers. As long as you have Prime, you can get the items the very next day, no leaving the house required.
As it turns out, there’s a catch. The prices were higher than in-store, and now Primark has taken the unprecedented step of issuing a statement warning customers against buying its products on Amazon.. . . more
Here’s how Abercrombie & Fitch ditched its past to try to bring back customers
CNBC
Crafting a brand is hard work. But harder still is reimaging it.
Sister brands Abercrombie & Fitch and Hollister were the go-to shops for teens in early 2000s. But as Abercrombie cultivated its rebellious image with half-naked models, controversies piled up, and its popularity fell.. . . more
Crafting a brand is hard work. But harder still is reimaging it.
Sister brands Abercrombie & Fitch and Hollister were the go-to shops for teens in early 2000s. But as Abercrombie cultivated its rebellious image with half-naked models, controversies piled up, and its popularity fell.. . . more
Retail Property Taxes Will Rise
REBusiness Online
As retailers rise and fall in the age of Amazon, property taxes remain one of retailers’ largest operating expenses. That makes it critical to monitor assessments of retail properties and be ready to contest unfairly high taxable valuations.
Assessors — and property owners attempting to educate those assessors — must understand how the changes taking place in the retail sector affect property value. Assessors must adjust their models to reflect new market realities, and property owners or their representatives must be able to explain why previously held valuation assumptions could no longer be valid. . . . more
As retailers rise and fall in the age of Amazon, property taxes remain one of retailers’ largest operating expenses. That makes it critical to monitor assessments of retail properties and be ready to contest unfairly high taxable valuations.
Assessors — and property owners attempting to educate those assessors — must understand how the changes taking place in the retail sector affect property value. Assessors must adjust their models to reflect new market realities, and property owners or their representatives must be able to explain why previously held valuation assumptions could no longer be valid. . . . more
Wednesday, October 16, 2019
Hamilton Beach Brands closing all of its Kitchen Collection stores by year's end
Richmond Times-Dispatch
Hamilton Beach Brands Holding Co. is closing all 160 of its Kitchen Collection retail stores by the end of this year.Kitchen Collection has stores in 39 states, mainly in outlet malls.
Kitchen Collection has been struggling with operating losses, leading the company to pursue a strategy of closing unprofitable stores while attempting to renegotiate leases.. . . more
Hamilton Beach Brands Holding Co. is closing all 160 of its Kitchen Collection retail stores by the end of this year.Kitchen Collection has stores in 39 states, mainly in outlet malls.
Kitchen Collection has been struggling with operating losses, leading the company to pursue a strategy of closing unprofitable stores while attempting to renegotiate leases.. . . more
Barneys could end up at Saks, WSJ reports
Retail Dive
Authentic Brands Group is in discussions to buy the Barneys brand for some $270 million, in a plan that would entail licensing the brand to Saks Fifth Avenue, the Wall Street Journal reported. ABG, Saks and Saks owner HBC didn't immediately return Retail Dive's requests for comment. Barneys didn't immediately return Retail Dive's request for comment.
Saks would install Barneys departments in some of its stores as well as run its website, according to the report. Authentic Brands is also negotiating with Barneys landlords to keep some of those stores open, the Journal said.. . . more
Authentic Brands Group is in discussions to buy the Barneys brand for some $270 million, in a plan that would entail licensing the brand to Saks Fifth Avenue, the Wall Street Journal reported. ABG, Saks and Saks owner HBC didn't immediately return Retail Dive's requests for comment. Barneys didn't immediately return Retail Dive's request for comment.
Saks would install Barneys departments in some of its stores as well as run its website, according to the report. Authentic Brands is also negotiating with Barneys landlords to keep some of those stores open, the Journal said.. . . more
Five Below to open gaming venues in stores
Retail Dive
Five Below, along with Comcast, SeventySix Capital, Elevate Capital and angel investor George Miller, invested $12 million in Nerd Street Gamers, an esports infrastructure company. Five Below led the Series A funding round, according to a press release emailed to Retail Dive.
As part of the deal, Five Below and Nerd Street Gamers will build 3,000-square foot Localhost spaces connected to an undisclosed number of Five Below stores and will host live, in-person events played using professional-level equipment. The test will begin with a multi-store pilot in 2020 and, if successful, could scale to 70 or more locations over the next few years, per the press release. . . . more
Five Below, along with Comcast, SeventySix Capital, Elevate Capital and angel investor George Miller, invested $12 million in Nerd Street Gamers, an esports infrastructure company. Five Below led the Series A funding round, according to a press release emailed to Retail Dive.
As part of the deal, Five Below and Nerd Street Gamers will build 3,000-square foot Localhost spaces connected to an undisclosed number of Five Below stores and will host live, in-person events played using professional-level equipment. The test will begin with a multi-store pilot in 2020 and, if successful, could scale to 70 or more locations over the next few years, per the press release. . . . more
Batter Up: MLB to open its first-ever flagship store
Chain Store Age
Major League Baseball is throwing its hat in the retail arena, opening a one-stop shopping destination for baseball fans.
MLB said it will open a “state-of-the-art” retail destination in midtown Manhattan in summer 2020. The two-level, 17,000-sq.-ft. store will be the league’s first permanent retail location in the U.S.. . . more
Major League Baseball is throwing its hat in the retail arena, opening a one-stop shopping destination for baseball fans.
MLB said it will open a “state-of-the-art” retail destination in midtown Manhattan in summer 2020. The two-level, 17,000-sq.-ft. store will be the league’s first permanent retail location in the U.S.. . . more
US retail sales dip 0.3% in September
AP
Retail sales dropped in September by the largest amount in seven months, possibly signaling that rising trade tensions and turbulent markets are having an impact on consumer spending.
Retail sales fell 0.3% last month following a 0.6% gain in August, the Commerce Department reported Wednesday. It was the first decline since a 0.5% drop in February.. . . more
Retail sales dropped in September by the largest amount in seven months, possibly signaling that rising trade tensions and turbulent markets are having an impact on consumer spending.
Retail sales fell 0.3% last month following a 0.6% gain in August, the Commerce Department reported Wednesday. It was the first decline since a 0.5% drop in February.. . . more
See inside Kendall Square’s first grocery store
Boston Business Journal
Wellesley-based grocery chain Roche Bros. will open its fifth Brothers Marketplace store on Nov. 12 in Cambridge’s Kendall Square.
The 12,000-square-foot store, located at One Broadway, will be the first full-service grocery in the Kendall Square neighborhood.. . . more
Wellesley-based grocery chain Roche Bros. will open its fifth Brothers Marketplace store on Nov. 12 in Cambridge’s Kendall Square.
The 12,000-square-foot store, located at One Broadway, will be the first full-service grocery in the Kendall Square neighborhood.. . . more
Tuesday, October 15, 2019
Target plans store near Government Center
Boston Business Journal
Target Corp. plans to open an 11,000-square-foot store at 100 Cambridge St. near Boston’s City Hall as part of a national expansion of what the Minneapolis-based retail giant calls “small-format stores.”
A Target representative did not specify when the store is expected to open, and the company website lists the 100 Cambridge St. location as one of several “future store openings.”. . . more
Target Corp. plans to open an 11,000-square-foot store at 100 Cambridge St. near Boston’s City Hall as part of a national expansion of what the Minneapolis-based retail giant calls “small-format stores.”
A Target representative did not specify when the store is expected to open, and the company website lists the 100 Cambridge St. location as one of several “future store openings.”. . . more
Majority of consumers to shop in-store during the holidays
Retail Dive
The International Council of Shopping Centers predicts in a recent report that holiday spending will increase 4.9% over last year, totaling $832.3 billion. Overall, shoppers anticipate spending an average of $683, $496 of which will go toward gifts and $187 on other holiday-related purchases, per the report.
According to the report, 90% of holiday shoppers expect to make purchases in-store and 97% of them will buy goods online from retailers with physical stores. About 63% of holiday shoppers will begin buying before Thanksgiving, and 49% of shoppers plan to complete their holiday shopping within the last ten days before Christmas, the report found.. . . more
The International Council of Shopping Centers predicts in a recent report that holiday spending will increase 4.9% over last year, totaling $832.3 billion. Overall, shoppers anticipate spending an average of $683, $496 of which will go toward gifts and $187 on other holiday-related purchases, per the report.
According to the report, 90% of holiday shoppers expect to make purchases in-store and 97% of them will buy goods online from retailers with physical stores. About 63% of holiday shoppers will begin buying before Thanksgiving, and 49% of shoppers plan to complete their holiday shopping within the last ten days before Christmas, the report found.. . . more
Walmart goes head to head with Amazon — again
Chain Store Age
Walmart is now bringing groceries right to customer fridges in select markets.
The discount giant has rolled out a pilot of InHome Delivery, a service that delivers fresh groceries and everyday items directly to refrigerators located inside customer kitchens or garages. . . . more
Walmart is now bringing groceries right to customer fridges in select markets.
The discount giant has rolled out a pilot of InHome Delivery, a service that delivers fresh groceries and everyday items directly to refrigerators located inside customer kitchens or garages. . . . more
Gymboree to make retail comeback online and in stores
Chain Store Age
The Gymboree brand is being revived — by a former rival.
The Children’s Place plans to relaunch Gymboree in early 2020 with an enhanced website and shop-in-shop locations in more than 200 Children’s Place stores in the U.S. and Canada. Gymboree Group filed for bankruptcy in January 2019, saying it would close all its stores. In March, The Children’s Place paid $76 million to acquire the rights associated to the Gymboree brand and its value-oriented Crazy 8 brand. . . . more
The Gymboree brand is being revived — by a former rival.
The Children’s Place plans to relaunch Gymboree in early 2020 with an enhanced website and shop-in-shop locations in more than 200 Children’s Place stores in the U.S. and Canada. Gymboree Group filed for bankruptcy in January 2019, saying it would close all its stores. In March, The Children’s Place paid $76 million to acquire the rights associated to the Gymboree brand and its value-oriented Crazy 8 brand. . . . more
Credit Suisse Warns That U.S. Store Closings May Worsen in 2020
NREI
U.S. retail store closures in 2020 are at risk to be just as bad -- or even worse -- than 2019, according to a Credit Suisse report.
Domestic closures are trending to all-time record highs, led by the Softlines, also known as apparel or textiles, according to Michael Binetti and other Credit Suisse analysts.
There have been 7,600 U.S. store closures announced in 2019 to date, representing the highest number of closures ever at this point in the year, according to the firm’s 24-year-old U.S. Retail Store Closure Index. Around 75% of those stores are Softlines.. . . more
U.S. retail store closures in 2020 are at risk to be just as bad -- or even worse -- than 2019, according to a Credit Suisse report.
Domestic closures are trending to all-time record highs, led by the Softlines, also known as apparel or textiles, according to Michael Binetti and other Credit Suisse analysts.
There have been 7,600 U.S. store closures announced in 2019 to date, representing the highest number of closures ever at this point in the year, according to the firm’s 24-year-old U.S. Retail Store Closure Index. Around 75% of those stores are Softlines.. . . more
Sears Hasn’t Fared Better After Bankruptcy as Another 100 Stores Will Soon Close
The Wall Street Journal
Sears’s bankruptcy filing was supposed to give the troubled retailer a fresh start. But a year later, the chain is still struggling with many of the same problems it faced before it sought court protection.
Roughly a quarter of the 425 Sears and Kmart stores that financier Edward Lampert bought out of bankruptcy have closed or are closing, according to people familiar with the situation, a retreat the chains haven’t fully disclosed.. . . more
Sears’s bankruptcy filing was supposed to give the troubled retailer a fresh start. But a year later, the chain is still struggling with many of the same problems it faced before it sought court protection.
Roughly a quarter of the 425 Sears and Kmart stores that financier Edward Lampert bought out of bankruptcy have closed or are closing, according to people familiar with the situation, a retreat the chains haven’t fully disclosed.. . . more
Aldi, Lidl Cut Into U.S. Grocers’ Turf
The Wall Street Journal
German discount chains Aldi and Lidl are capturing a larger share of U.S. grocery bills and pressuring U.S. retailers to respond.
The privately owned foreign companies have increased sales with their simpler stores that offer fewer products at lower prices. In response, U.S. grocers are lowering prices on staples such as milk and eggs and adding more products the discounters aren’t known for, such as fresh foods. The battle comes as supermarkets already are fighting to keep customers from shopping more online.. . . more
German discount chains Aldi and Lidl are capturing a larger share of U.S. grocery bills and pressuring U.S. retailers to respond.
The privately owned foreign companies have increased sales with their simpler stores that offer fewer products at lower prices. In response, U.S. grocers are lowering prices on staples such as milk and eggs and adding more products the discounters aren’t known for, such as fresh foods. The battle comes as supermarkets already are fighting to keep customers from shopping more online.. . . more
How Kohl’s is trying to keep its stores fresh ahead of the holidays
CNBC
Kohl’s stores are getting a bit of a refresh and are being infused with new brands ahead of this holiday season.
At a Kohl’s store here, the retailer has rolled out a space called “Curated by Kohl’s,” to be heading to 50 of Kohl’s roughly 1,100 locations nationwide. It features six brands, including lingerie maker Adore Me and card marker Lovepop. And in these spaces, Kohl’s is working with Facebook — and its massive database of brands that advertise on the social media platform and Instagram — to help market the brands and choose what might rotate in next. . . . more
Kohl’s stores are getting a bit of a refresh and are being infused with new brands ahead of this holiday season.
At a Kohl’s store here, the retailer has rolled out a space called “Curated by Kohl’s,” to be heading to 50 of Kohl’s roughly 1,100 locations nationwide. It features six brands, including lingerie maker Adore Me and card marker Lovepop. And in these spaces, Kohl’s is working with Facebook — and its massive database of brands that advertise on the social media platform and Instagram — to help market the brands and choose what might rotate in next. . . . more
Friday, October 11, 2019
Report: Strong public infrastructure essential for retail development success
ICSC.com
Dozens of reports have lamented America’s collapsing bridges, pothole-scarred roads and gridlocked freeways. Rather than add to the chorus of complaints, a new ICSC white paper aims to chart a way forward on infrastructure.. . . more
Dozens of reports have lamented America’s collapsing bridges, pothole-scarred roads and gridlocked freeways. Rather than add to the chorus of complaints, a new ICSC white paper aims to chart a way forward on infrastructure.. . . more
Property and Asset Management, Retail Leasing & Tenant Representation, Investment Sales, Construction, Research, Consulting; Retail Real Estate, Office Real Estate, Industrial Real Estate, Commercial Real Estate; New England, New York,Washington, DC, Mid-Atlantic, and more.info@keypointpartners.com
Walmart promotes Sam’s Club head to run U.S. business
CSA
John Furner is taking the reins as president and CEO of Walmart U.S. effective Nov. 1.
Furner will report directly to Walmart president and CEO Doug McMillon. Greg Foran, who has served as president and CEO of Walmart U.S. since 2014, is taking a role as CEO at Air New Zealand Limited. Foran will stay on with Walmart through Jan. 31, 2020 to ensure a smooth transition. . . . more
John Furner is taking the reins as president and CEO of Walmart U.S. effective Nov. 1.
Furner will report directly to Walmart president and CEO Doug McMillon. Greg Foran, who has served as president and CEO of Walmart U.S. since 2014, is taking a role as CEO at Air New Zealand Limited. Foran will stay on with Walmart through Jan. 31, 2020 to ensure a smooth transition. . . . more
Property and Asset Management, Retail Leasing & Tenant Representation, Investment Sales, Construction, Research, Consulting; Retail Real Estate, Office Real Estate, Industrial Real Estate, Commercial Real Estate; New England, New York,Washington, DC, Mid-Atlantic, and more.info@keypointpartners.com
Executive shift at Target as chief merchant jumps to Bed Bath & Beyond
CSA
Target Corp. is losing the executive who overhauled its private-label business.
Mark J. Tritton, who has served as executive VP and chief merchandising officer of Target since 2016, is joining Bed Bath & Beyond as president and CEO effective Nov. 4, 2019 Tritton was instrumental in building Target’s private-label strategy, reviving the company’s existing brands and launching more than 30 new brands in two and a half years. The discounter achieved eight consecutive quarters of same-store sales growth during his tenure. . . . more
Target Corp. is losing the executive who overhauled its private-label business.
Mark J. Tritton, who has served as executive VP and chief merchandising officer of Target since 2016, is joining Bed Bath & Beyond as president and CEO effective Nov. 4, 2019 Tritton was instrumental in building Target’s private-label strategy, reviving the company’s existing brands and launching more than 30 new brands in two and a half years. The discounter achieved eight consecutive quarters of same-store sales growth during his tenure. . . . more
Property and Asset Management, Retail Leasing & Tenant Representation, Investment Sales, Construction, Research, Consulting; Retail Real Estate, Office Real Estate, Industrial Real Estate, Commercial Real Estate; New England, New York,Washington, DC, Mid-Atlantic, and more.info@keypointpartners.com
First Look: The Vitamin Shoppe debuts innovation store concept
CSA
The Vitamin Shoppe is integrating technology with customer-friendly store design.
The specialty retailer of nutritional products is opening a new innovation store in Edgewater, N.J. Building off the footprint of the existing Edgewater store, the completely reimagined 3,185-sq.-ft. space features interactive elements such as on-demand digital product guides, enhanced mobile POS checkout, a designated area to take the retailer's new personalized health assessment, a complimentary body composition analysis station, and a supplement sampling machine. . . . more
The Vitamin Shoppe is integrating technology with customer-friendly store design.
The specialty retailer of nutritional products is opening a new innovation store in Edgewater, N.J. Building off the footprint of the existing Edgewater store, the completely reimagined 3,185-sq.-ft. space features interactive elements such as on-demand digital product guides, enhanced mobile POS checkout, a designated area to take the retailer's new personalized health assessment, a complimentary body composition analysis station, and a supplement sampling machine. . . . more
Property and Asset Management, Retail Leasing & Tenant Representation, Investment Sales, Construction, Research, Consulting; Retail Real Estate, Office Real Estate, Industrial Real Estate, Commercial Real Estate; New England, New York,Washington, DC, Mid-Atlantic, and more.info@keypointpartners.com
American Girl brings new in-store experiences to flagships
CSA
Owners of sick dolls in New York and Chicago have a new treatment option.
American Girl is introducing new retail experiences at its New York City and Chicago flagship stores, including a doll hospital in both locations. The hospitals offer a variety of free services, including a doll wellness exam with a specially-trained “doll doctor” who checks the pulse, temperature, and reflexes of each “patient.” . . . more
Owners of sick dolls in New York and Chicago have a new treatment option.
American Girl is introducing new retail experiences at its New York City and Chicago flagship stores, including a doll hospital in both locations. The hospitals offer a variety of free services, including a doll wellness exam with a specially-trained “doll doctor” who checks the pulse, temperature, and reflexes of each “patient.” . . . more
Property and Asset Management, Retail Leasing & Tenant Representation, Investment Sales, Construction, Research, Consulting; Retail Real Estate, Office Real Estate, Industrial Real Estate, Commercial Real Estate; New England, New York,Washington, DC, Mid-Atlantic, and more.info@keypointpartners.com
Thursday, October 10, 2019
Report: Walmart reduces Bonobos headcount
CSA
Walmart is reportedly laying off staffers from its Bonobos omnichannel menswear brand. . . . more
Walmart is reportedly laying off staffers from its Bonobos omnichannel menswear brand. . . . more
Property and Asset Management, Retail Leasing & Tenant Representation, Investment Sales, Construction, Research, Consulting; Retail Real Estate, Office Real Estate, Industrial Real Estate, Commercial Real Estate; New England, New York,Washington, DC, Mid-Atlantic, and more.info@keypointpartners.com
Bed Bath & Beyond names Target’s chief merchant as CEO
CSA
Bed Bath & Beyond has ended its search for a new chief executive officer, appointing a 30-year, well-respected retail veteran to the position. . . . more
Bed Bath & Beyond has ended its search for a new chief executive officer, appointing a 30-year, well-respected retail veteran to the position. . . . more
Property and Asset Management, Retail Leasing & Tenant Representation, Investment Sales, Construction, Research, Consulting; Retail Real Estate, Office Real Estate, Industrial Real Estate, Commercial Real Estate; New England, New York,Washington, DC, Mid-Atlantic, and more.info@keypointpartners.com
Giant set to reopen Musser’s Market stores
Supermarket News
Next month, Giant Food Stores plans to reopen stores in Pennsylvania’s Lancaster and Lebanon counties from its acquisition of independent grocer Musser’s Market. . . . more
Next month, Giant Food Stores plans to reopen stores in Pennsylvania’s Lancaster and Lebanon counties from its acquisition of independent grocer Musser’s Market. . . . more
Property and Asset Management, Retail Leasing & Tenant Representation, Investment Sales, Construction, Research, Consulting; Retail Real Estate, Office Real Estate, Industrial Real Estate, Commercial Real Estate; New England, New York,Washington, DC, Mid-Atlantic, and more.info@keypointpartners.com
McAlister's Deli® Enters into One of the Largest Development Deals in Company History
Deli Market News
Fast-casual restaurant chain McAlister’s Deli® is growing in leaps and bounds after signing what it has lauded as its largest development deal in company history. The deal, which was signed with Best Choice Restaurants, an affiliate of Sun Holdings founded by Guillermo Perales—parent company of Burger King, Arby’s, Krispy Kreme, and more—will bare McAlister’s Deli more restaurants in key markets. . . . more
Fast-casual restaurant chain McAlister’s Deli® is growing in leaps and bounds after signing what it has lauded as its largest development deal in company history. The deal, which was signed with Best Choice Restaurants, an affiliate of Sun Holdings founded by Guillermo Perales—parent company of Burger King, Arby’s, Krispy Kreme, and more—will bare McAlister’s Deli more restaurants in key markets. . . . more
Property and Asset Management, Retail Leasing & Tenant Representation, Investment Sales, Construction, Research, Consulting; Retail Real Estate, Office Real Estate, Industrial Real Estate, Commercial Real Estate; New England, New York,Washington, DC, Mid-Atlantic, and more.info@keypointpartners.com
Fitness Centers Continue to Rise
design:retail
Real estate and investment management firm JLL has released findings from its latest research report entitled “Fitness invigorates shopping centers.” The report examined more than 6,000 fitness center move-ins in retail real estate since the beginning of 2013. New data reveals that health movements have impacted the number of fitness center openings, which has increased 23.5 percent since 2010. Currently encompassing 11,055 locations, fitness center locations are poised to expand to a fleet of 120,700 outposts by 2024, or at a rate of 8.7 percent.. . . more
Real estate and investment management firm JLL has released findings from its latest research report entitled “Fitness invigorates shopping centers.” The report examined more than 6,000 fitness center move-ins in retail real estate since the beginning of 2013. New data reveals that health movements have impacted the number of fitness center openings, which has increased 23.5 percent since 2010. Currently encompassing 11,055 locations, fitness center locations are poised to expand to a fleet of 120,700 outposts by 2024, or at a rate of 8.7 percent.. . . more
Property and Asset Management, Retail Leasing & Tenant Representation, Investment Sales, Construction, Research, Consulting; Retail Real Estate, Office Real Estate, Industrial Real Estate, Commercial Real Estate; New England, New York,Washington, DC, Mid-Atlantic, and more.info@keypointpartners.com
INDOCHINO Celebrates Milestone 50th Showroom in Washington, DC
PRNewswire
INDOCHINO, the global leader in custom apparel, has opened its 50th showroom in Washington, DC. The digitally native retailer is on a mission to bring affordable custom clothing to men across North America through widespread retail expansion, and further showrooms are slated to open in Cleveland, OH on October 18th and New Orleans, LA on November 8th.. . . more
INDOCHINO, the global leader in custom apparel, has opened its 50th showroom in Washington, DC. The digitally native retailer is on a mission to bring affordable custom clothing to men across North America through widespread retail expansion, and further showrooms are slated to open in Cleveland, OH on October 18th and New Orleans, LA on November 8th.. . . more
Property and Asset Management, Retail Leasing & Tenant Representation, Investment Sales, Construction, Research, Consulting; Retail Real Estate, Office Real Estate, Industrial Real Estate, Commercial Real Estate; New England, New York,Washington, DC, Mid-Atlantic, and more.info@keypointpartners.com
JackRabbit, a Portfolio Company of CriticalPoint Capital, Announces Acquisition of Olympia Sports Stores
Yahoo Finance
JackRabbit, a leading omni-channel retailer of athletic footwear, apparel, and accessories owned by affiliates of CriticalPoint Capital ("CPC"), announced today the acquisition of certain assets and liabilities, including the online presence and the "Olympia Sports" brand from prominent retail sporting goods company, Olympia Sports ("Olympia"). Originally founded in 1975 in Portland, Maine, Olympia currently operates its brick and mortar stores primarily in the Northeast U.S. while also serving online customers via its e-commerce site Olympiasports.net. . . . more
JackRabbit, a leading omni-channel retailer of athletic footwear, apparel, and accessories owned by affiliates of CriticalPoint Capital ("CPC"), announced today the acquisition of certain assets and liabilities, including the online presence and the "Olympia Sports" brand from prominent retail sporting goods company, Olympia Sports ("Olympia"). Originally founded in 1975 in Portland, Maine, Olympia currently operates its brick and mortar stores primarily in the Northeast U.S. while also serving online customers via its e-commerce site Olympiasports.net. . . . more
Property and Asset Management, Retail Leasing & Tenant Representation, Investment Sales, Construction, Research, Consulting; Retail Real Estate, Office Real Estate, Industrial Real Estate, Commercial Real Estate; New England, New York,Washington, DC, Mid-Atlantic, and more.info@keypointpartners.com
Wednesday, October 9, 2019
Yesway approaches 500-store goal with acquisition
CSA
Convenience store retailer Yesway is gaining more than 300 new stores in a single transaction.
Des Moines, Iowa-based Yesway has entered into a definitive agreement to purchase Allsup’s Convenience Stores. Based in Clovis, New Mexico, Allsup’s, operates a portfolio of 304 stores across Texas, New Mexico, and Oklahoma. . . more
Convenience store retailer Yesway is gaining more than 300 new stores in a single transaction.
Des Moines, Iowa-based Yesway has entered into a definitive agreement to purchase Allsup’s Convenience Stores. Based in Clovis, New Mexico, Allsup’s, operates a portfolio of 304 stores across Texas, New Mexico, and Oklahoma. . . more
Property and Asset Management, Retail Leasing & Tenant Representation, Investment Sales, Construction, Research, Consulting; Retail Real Estate, Office Real Estate, Industrial Real Estate, Commercial Real Estate; New England, New York,Washington, DC, Mid-Atlantic, and more.info@keypointpartners.com
KeyPoint Partners Negotiates Sale of Retail Asset in Reading
Boston Real Estate Times
KeyPoint Partners, LLC has negotiated the sale of 39-45 Walkers Brook Drive in Reading, MA. KPP Vice President of Investment Sales Jonathan Aron represented the seller in the transaction. . . . more
KeyPoint Partners, LLC has negotiated the sale of 39-45 Walkers Brook Drive in Reading, MA. KPP Vice President of Investment Sales Jonathan Aron represented the seller in the transaction. . . . more
Property and Asset Management, Retail Leasing & Tenant Representation, Investment Sales, Construction, Research, Consulting; Retail Real Estate, Office Real Estate, Industrial Real Estate, Commercial Real Estate; New England, New York,Washington, DC, Mid-Atlantic, and more.info@keypointpartners.com
Healthcare to Purchase Mor Furniture For Less
Home Furnishings Business
Healthcare Co., Ltd. has signed a letter of intent to acquire 36-store Mor Furniture for Less, the San Diego-based, top 100 home furnishings retailer with estimated annual sales of more than $310 million. . . . more
Healthcare Co., Ltd. has signed a letter of intent to acquire 36-store Mor Furniture for Less, the San Diego-based, top 100 home furnishings retailer with estimated annual sales of more than $310 million. . . . more
Property and Asset Management, Retail Leasing & Tenant Representation, Investment Sales, Construction, Research, Consulting; Retail Real Estate, Office Real Estate, Industrial Real Estate, Commercial Real Estate; New England, New York,Washington, DC, Mid-Atlantic, and more.info@keypointpartners.com
uBreakiFix Opens 26 New Stores in Q3, Joins the Asurion Family
Yahoo Finance
Leading tech repair franchise uBreakiFix announced 26 new store openings during the third quarter of 2019, bringing the brand’s total footprint to 545 stores across North America.
The highest growth markets included New York and Texas, each with three new locations, followed by Florida, Illinois, and Ontario, each with two. Third-quarter growth also included two independent repair shops that converted to the uBreakiFix brand. As part of the uBreakiFix franchise, conversion stores receive access to full corporate support, plus uBreakiFix’s authorized service partnerships with leading OEM brands like Samsung and Google . . . more
Leading tech repair franchise uBreakiFix announced 26 new store openings during the third quarter of 2019, bringing the brand’s total footprint to 545 stores across North America.
The highest growth markets included New York and Texas, each with three new locations, followed by Florida, Illinois, and Ontario, each with two. Third-quarter growth also included two independent repair shops that converted to the uBreakiFix brand. As part of the uBreakiFix franchise, conversion stores receive access to full corporate support, plus uBreakiFix’s authorized service partnerships with leading OEM brands like Samsung and Google . . . more
Property and Asset Management, Retail Leasing & Tenant Representation, Investment Sales, Construction, Research, Consulting; Retail Real Estate, Office Real Estate, Industrial Real Estate, Commercial Real Estate; New England, New York,Washington, DC, Mid-Atlantic, and more.info@keypointpartners.com
Cafes To Grow! Targeting 100 Units and $100 Million In Sales
Franchising.com
Glen Johnson and Nick Crouch are 30-somethings with 56 Tropical Smoothie Cafes, 30 more under development, 1,400 team members, and a role as area developers--and the brand's largest franchisees.
Though Johnson and Crouch both have been in franchising for 8 years, it was only in 2017 that they merged their interests to form DYNE Hospitality Group. Today, with locations spread across Texas, Arkansas, Oklahoma, Georgia, and Florida, Johnson says they are only halfway to their goal of operating 100 units with more than $100 million in sales. . . . more
Glen Johnson and Nick Crouch are 30-somethings with 56 Tropical Smoothie Cafes, 30 more under development, 1,400 team members, and a role as area developers--and the brand's largest franchisees.
Though Johnson and Crouch both have been in franchising for 8 years, it was only in 2017 that they merged their interests to form DYNE Hospitality Group. Today, with locations spread across Texas, Arkansas, Oklahoma, Georgia, and Florida, Johnson says they are only halfway to their goal of operating 100 units with more than $100 million in sales. . . . more
Property and Asset Management, Retail Leasing & Tenant Representation, Investment Sales, Construction, Research, Consulting; Retail Real Estate, Office Real Estate, Industrial Real Estate, Commercial Real Estate; New England, New York,Washington, DC, Mid-Atlantic, and more.info@keypointpartners.com
Target will support Toys ‘R’ Us omnichannel fulfillment
CSA
Customers making digital purchases from the revamped Toys “R” Us will receive their products courtesy of Target.
Through a partnership with Tru Kids Brands, the new parent company of Toys “R” Us, Target's toy assortment, digital capabilities and fulfillment services will support new omnichannel Toys "R" Us shopping experiences in the U.S. Consumers browsing and purchasing items on ToysRUs.com, which relaunches Oct. 8, can complete their order by clicking “Buy Now at Target.com” to be automatically linked to the same product page on Target.com to complete their purchase.. . . more
Customers making digital purchases from the revamped Toys “R” Us will receive their products courtesy of Target.
Through a partnership with Tru Kids Brands, the new parent company of Toys “R” Us, Target's toy assortment, digital capabilities and fulfillment services will support new omnichannel Toys "R" Us shopping experiences in the U.S. Consumers browsing and purchasing items on ToysRUs.com, which relaunches Oct. 8, can complete their order by clicking “Buy Now at Target.com” to be automatically linked to the same product page on Target.com to complete their purchase.. . . more
Property and Asset Management, Retail Leasing & Tenant Representation, Investment Sales, Construction, Research, Consulting; Retail Real Estate, Office Real Estate, Industrial Real Estate, Commercial Real Estate; New England, New York,Washington, DC, Mid-Atlantic, and more.info@keypointpartners.com
Tuesday, October 8, 2019
These Customers Are Giving Shopping Malls a Fighting Chance
Footwear News
For a mall to thrive, it needs people to shop — but with so many department stores shuttering doors and an increasing share of consumer spending moving online, are Americans still spending their downtime in these air-conditioned icons of suburbia?
The answer: Yes, but it’s complicated.
Across all demographics, mall shopping declined 7.6% in 2018 year-over-year, while non-mall shopping rose 0.5%, according to a recent report from Deloitte. . . . more
For a mall to thrive, it needs people to shop — but with so many department stores shuttering doors and an increasing share of consumer spending moving online, are Americans still spending their downtime in these air-conditioned icons of suburbia?
The answer: Yes, but it’s complicated.
Across all demographics, mall shopping declined 7.6% in 2018 year-over-year, while non-mall shopping rose 0.5%, according to a recent report from Deloitte. . . . more
Macy’s invests in stores
Chain Store Age
In 2019, Macy’s added 100 stores to the Growth50 initiative,which provided additional capital to 50 stores across the country received additional capital to enhance the customer experience and create a more vibrant and productive shopping destination.
The 150 stores comprise approximately 50% of Macy’s store sales. With the continued success of this initiative, Macy’s plans to add additional locations in 2020.. . . more
In 2019, Macy’s added 100 stores to the Growth50 initiative,which provided additional capital to 50 stores across the country received additional capital to enhance the customer experience and create a more vibrant and productive shopping destination.
Work in the next 100 stores is expected to be fully complete in fall 2019.
The 150 stores comprise approximately 50% of Macy’s store sales. With the continued success of this initiative, Macy’s plans to add additional locations in 2020.. . . more
Walmart reduces Bonobos headcount
Chain Store Age
According to Vox, Walmart laid off “dozens” of Bonobos’ approximately 600 employees on Monday, Oct. 7. It is not clear whether affected roles were in Bonobos’ corporate offices, 60-plus brick-and-mortar stores, or both.
According to Vox, Walmart laid off “dozens” of Bonobos’ approximately 600 employees on Monday, Oct. 7. It is not clear whether affected roles were in Bonobos’ corporate offices, 60-plus brick-and-mortar stores, or both.
Walmart purchased Bonobos for $310 million in 2017, as part of a larger push at the time to acquire e-commerce brands that appealed to younger, higher-income consumers. Other e-commerce brands purchased around the same time period included ModCloth and Jet.com.
Earlier this month, Walmart reached an agreement to sell ModCloth to GoGlobal Retail for an undisclosed sum.. . . more
Is Costco Approaching U.S. Saturation?
Winsight Grocery Business
Costco Wholesale Corp. will spend about $3 billion in its new fiscal year on capital projects including about 15 new U.S. stores—figures roughly equivalent to its recent annual building pace.
Speaking in a call reviewing earnings for its fourth quarter and fiscal year, Richard Galanti, chief financial officer for the Issaquah, Wash.-based membership warehouse club, said Costco is eyeing about 25 new stores worldwide in the new fiscal year, which began Sept. 2. Like 2019, its openings will be skewed toward the second half of the calendar year: The company opened 10 new U.S. units and relocated two stores in the recently completed fourth quarter.. . . more
Costco Wholesale Corp. will spend about $3 billion in its new fiscal year on capital projects including about 15 new U.S. stores—figures roughly equivalent to its recent annual building pace.
Speaking in a call reviewing earnings for its fourth quarter and fiscal year, Richard Galanti, chief financial officer for the Issaquah, Wash.-based membership warehouse club, said Costco is eyeing about 25 new stores worldwide in the new fiscal year, which began Sept. 2. Like 2019, its openings will be skewed toward the second half of the calendar year: The company opened 10 new U.S. units and relocated two stores in the recently completed fourth quarter.. . . more
Domino's Pizza earnings miss expectations in the third quarter
Yahoo Finance
Domino’s Pizza on Tuesday reported a miss on both the top and bottom lines during its third quarter, as the company struggles to fend off a stiff challenge from the growing number of food delivery services.
Domino’s has been not been immune to the pressures of third-party aggregators like DoorDash, Uber Eats and Grubhub — all of which have disrupted the food space. The pizza giant’s same-store sales, a key industry metric, also missed expectations.. . . more
Domino’s Pizza on Tuesday reported a miss on both the top and bottom lines during its third quarter, as the company struggles to fend off a stiff challenge from the growing number of food delivery services.
Domino’s has been not been immune to the pressures of third-party aggregators like DoorDash, Uber Eats and Grubhub — all of which have disrupted the food space. The pizza giant’s same-store sales, a key industry metric, also missed expectations.. . . more
Teen spending falls as worries about the economy grow
CNBC
As millennials age, Gen Z is taking over as the newest consumer group retailers and consumer brands are courting.
Figuring out exactly what teens want is always a difficult task, perhaps even harder now, because teens are spending less than in the spring, and at this time last year. . . . more
As millennials age, Gen Z is taking over as the newest consumer group retailers and consumer brands are courting.
Figuring out exactly what teens want is always a difficult task, perhaps even harder now, because teens are spending less than in the spring, and at this time last year. . . . more
Online holiday sales expected to jump 11%-14%, several firms estimate
Digital Commerce 360
Holiday retail projections are flooding in, with several big firms announcing upbeat forecasts despite a volatile economy, a contentious political climate and fewer shopping days between Thanksgiving and Christmas.
Online seasonal sales in the United States are expected to jump 13% to $136 billion this year, according to a Salesforce analysis. Forrester Research Inc. is predicting similar ecommerce gains, pegging the holidays for a 12.7% uptick, which would translate into $138 billion in web sales for the period. The National Retail Federation also anticipates the same range of holiday growth, with an 11%-14% year-over-year lift, or between $162.6 billion and $166.9 billion in seasonal non-store revenue, which includes sales channels beyond ecommerce. . . . more
Holiday retail projections are flooding in, with several big firms announcing upbeat forecasts despite a volatile economy, a contentious political climate and fewer shopping days between Thanksgiving and Christmas.
Online seasonal sales in the United States are expected to jump 13% to $136 billion this year, according to a Salesforce analysis. Forrester Research Inc. is predicting similar ecommerce gains, pegging the holidays for a 12.7% uptick, which would translate into $138 billion in web sales for the period. The National Retail Federation also anticipates the same range of holiday growth, with an 11%-14% year-over-year lift, or between $162.6 billion and $166.9 billion in seasonal non-store revenue, which includes sales channels beyond ecommerce. . . . more
Monday, October 7, 2019
Outlet Malls Bucked the Shift to Online. Until Now.
The Wall Street Journal
Outlet stores had long been immune to pressures weighing on traditional malls, including the shift to online shopping that has sapped customers from physical stores. Until now.
Simon Property Group Inc., one of the largest mall owners, in conjunction with Rue Gilt Groupe, which operates flash-sale websites, has launched shoppremiumoutlets.com, where brands from Vince to Under Armour offer their outlet goods for sale online. . . . more
Outlet stores had long been immune to pressures weighing on traditional malls, including the shift to online shopping that has sapped customers from physical stores. Until now.
Simon Property Group Inc., one of the largest mall owners, in conjunction with Rue Gilt Groupe, which operates flash-sale websites, has launched shoppremiumoutlets.com, where brands from Vince to Under Armour offer their outlet goods for sale online. . . . more
These retailers could benefit from Forever 21's bankruptcy
Retail Dive
With Forever 21 looking to close up to a third of its domestic footprint in bankruptcy, some $690 million in sales is "up for grabs" in the teen and young adult apparel market, according to a recent note from B. Riley FBR analysts led by Susan Anderson.
With Forever 21 looking to close up to a third of its domestic footprint in bankruptcy, some $690 million in sales is "up for grabs" in the teen and young adult apparel market, according to a recent note from B. Riley FBR analysts led by Susan Anderson.
The analysts think American Eagle Outfitters, Express and Abercrombie & Fitch, as well as the latter's Hollister label, are "most poised to benefit" from Forever 21 closures. . . . more
Bed Bath & Beyond to cut $1B in inventory, hundreds of millions in cost as more stores close
Retail Dive
After raising its number of expected store closures from 40 to 60, cost-cutting is the order of the day at Bed Bath & Beyond. In addition to staffing cuts and sourcing changes, the retailer is looking to rid itself of excess inventory fast through markdowns, clearance sales and liquidation avenues.
CEO Mary Winston said $350 million of store inventory should be clear before the 2019 holiday season. To optimize this inventory off-load the company is employing "markdown optimization software" to speed the process.. . . more
After raising its number of expected store closures from 40 to 60, cost-cutting is the order of the day at Bed Bath & Beyond. In addition to staffing cuts and sourcing changes, the retailer is looking to rid itself of excess inventory fast through markdowns, clearance sales and liquidation avenues.
CEO Mary Winston said $350 million of store inventory should be clear before the 2019 holiday season. To optimize this inventory off-load the company is employing "markdown optimization software" to speed the process.. . . more
Whole Foods’ Coast-to-Coast Expansion
Winsight Grocery Business
Whole Foods Market said it would open a new Mid-Atlantic flagship store in Tysons Corner, Va., on Oct. 30, as well as three additional stores in West Seattle, Beverly, Mass., and Long Beach, Calif., this month. In November, the Austin, Texas-based grocer belonging to Amazon plans to open new stores in Tempe, Ariz., and Parsippany, N.J.
While the Tysons Corner store in The Boro (1635 Boro Place) will be a 70,000-square-foot destination, featuring an in-store food hall with various cuisines, a bar and game room, as well as an expansive selection of grocery items, prepared foods and products from local suppliers, the additional five stores are more modest—ranging in size from 34,500 square feet (Beverly) to 47,000 square feet (Parsippany). . . . more
Whole Foods Market said it would open a new Mid-Atlantic flagship store in Tysons Corner, Va., on Oct. 30, as well as three additional stores in West Seattle, Beverly, Mass., and Long Beach, Calif., this month. In November, the Austin, Texas-based grocer belonging to Amazon plans to open new stores in Tempe, Ariz., and Parsippany, N.J.
While the Tysons Corner store in The Boro (1635 Boro Place) will be a 70,000-square-foot destination, featuring an in-store food hall with various cuisines, a bar and game room, as well as an expansive selection of grocery items, prepared foods and products from local suppliers, the additional five stores are more modest—ranging in size from 34,500 square feet (Beverly) to 47,000 square feet (Parsippany). . . . more
Von Maur continues national expansion
Chain Store Age
Von Maur is building on its presence in new markets. The family-owned department store retailer will open an 85,000-sq.-ft. store at West Towne Mall in Madison, Wis. Scheduled to open in fall 2021, it will be Von Maur’s second Wisconsin location.
The new location builds on Von Maur’s targeted national growth strategy. The company opened its second Minnesota location in 2018, and it has grown in new states beyond its Midwestern footprint, including Georgia, New York, Alabama and Oklahoma. The company plans to open its third Michigan location, at Woodland Mall just outside of Grand Rapids, on October 12.. . . more
Von Maur is building on its presence in new markets. The family-owned department store retailer will open an 85,000-sq.-ft. store at West Towne Mall in Madison, Wis. Scheduled to open in fall 2021, it will be Von Maur’s second Wisconsin location.
The new location builds on Von Maur’s targeted national growth strategy. The company opened its second Minnesota location in 2018, and it has grown in new states beyond its Midwestern footprint, including Georgia, New York, Alabama and Oklahoma. The company plans to open its third Michigan location, at Woodland Mall just outside of Grand Rapids, on October 12.. . . more
Disney goes live at Target stores
Chain Store Age
Target Corp. has launched its in-store and online partnership with The Walt Disney Company.
The discounter opened in-store Disney shops in 25 Target locations and a complementary online experience. The dedicated spaces feature an expanded Disney assortment of more than 450 items, including more than 100 products that were previously only available at Disney retail locations.. . . more
Target Corp. has launched its in-store and online partnership with The Walt Disney Company.
The discounter opened in-store Disney shops in 25 Target locations and a complementary online experience. The dedicated spaces feature an expanded Disney assortment of more than 450 items, including more than 100 products that were previously only available at Disney retail locations.. . . more
REI opens new format store
Chain Store Age
The outdoor gear and apparel retailer has debuted a new store concept that combines merchandise, guided outdoor experiences and equipment rentals all under one roof. Located in North Conway, New Hampshire, the new REI is designed to both serve the 53,000 co-op members in the Granite State and the millions of visitors that adventure in the region every year.
The 24,779-sq.-ft. REI North Conway differs from the co-op's traditional retail spaces in that rather than being designed for the products it sells, it is designed first to be a launching pad for outdoor activities – a place where people of all levels of expertise can gather to plan their trip, pick up rentals or a new piece of gear, take a class or workshop, or sign up for a guided outdoor experience. . . . more
The outdoor gear and apparel retailer has debuted a new store concept that combines merchandise, guided outdoor experiences and equipment rentals all under one roof. Located in North Conway, New Hampshire, the new REI is designed to both serve the 53,000 co-op members in the Granite State and the millions of visitors that adventure in the region every year.
The 24,779-sq.-ft. REI North Conway differs from the co-op's traditional retail spaces in that rather than being designed for the products it sells, it is designed first to be a launching pad for outdoor activities – a place where people of all levels of expertise can gather to plan their trip, pick up rentals or a new piece of gear, take a class or workshop, or sign up for a guided outdoor experience. . . . more
Friday, October 4, 2019
Mall Investment Sales Volume Is Down, But Investors Are More Willing to Buy Lower-Tier Assets
NREI
With the continuing retail bankruptcies, store closures and the overall upheaval in the physical retail sector, do investors still have interest in buying U.S. malls?
It all goes back to the case of the “haves” and “have-nots.” Strong-performing, class-A destination malls boasting experiential retail are still highly sought after by investors. However, there aren’t many of those up for sale. The country’s best malls are controlled primarily by the REITs as long-term holds, and they’re in no hurry to sell them off.. . . more
With the continuing retail bankruptcies, store closures and the overall upheaval in the physical retail sector, do investors still have interest in buying U.S. malls?
It all goes back to the case of the “haves” and “have-nots.” Strong-performing, class-A destination malls boasting experiential retail are still highly sought after by investors. However, there aren’t many of those up for sale. The country’s best malls are controlled primarily by the REITs as long-term holds, and they’re in no hurry to sell them off.. . . more
Ascena Retail Group swings to Q4 loss; wind down of Dressbarn ‘on track’
Chain Store Age
The parent company of Ann Taylor, Lane Bryant and other brands posted a loss in its fourth quarter as it completed the divesture of one of its brands and make progress on the shuttering of another.
During the quarter, Ascena Retail Group finalized the sale of its 934-store Maurices division to an affiliate of British private equity firm OpCapita. The company is also in the midst of closing down its Dressbarn division. Ascena said the wind down of Dressbarn is progressing well, and it is track to complete store closings by the end of 2019. (Dressbarn had 616 locations remaining at the end of the fourth quarter.). . . more
The parent company of Ann Taylor, Lane Bryant and other brands posted a loss in its fourth quarter as it completed the divesture of one of its brands and make progress on the shuttering of another.
During the quarter, Ascena Retail Group finalized the sale of its 934-store Maurices division to an affiliate of British private equity firm OpCapita. The company is also in the midst of closing down its Dressbarn division. Ascena said the wind down of Dressbarn is progressing well, and it is track to complete store closings by the end of 2019. (Dressbarn had 616 locations remaining at the end of the fourth quarter.). . . more
Online Holiday Shopping to Overtake In-Store for First Time, Survey Finds
NREI
For the first time, consumers in the U.S. plan to do more of their holiday shopping online than in physical stores, according to a new survey.
In its annual Holiday Outlook, PricewaterhouseCoopers LLP found that 54% of respondents will opt for the convenience of their smartphones, laptops and PCs, and even in-home voice assistants, compared with 50% last year.. . . more
For the first time, consumers in the U.S. plan to do more of their holiday shopping online than in physical stores, according to a new survey.
In its annual Holiday Outlook, PricewaterhouseCoopers LLP found that 54% of respondents will opt for the convenience of their smartphones, laptops and PCs, and even in-home voice assistants, compared with 50% last year.. . . more
Costco quarterly sales miss estimates amid fierce competition
Yahoo Finance
Costco Wholesale Corp reported quarterly revenue below Wall Street estimates on Thursday, as the U.S. hypermarket chain struggled to attract shoppers in the competitive grocery space.
Costco and other U.S. grocers are slashing prices while investing heavily in stores and online operations to defend their share of the market as Amazon.com Inc and Walmart expand aggressively. . . . more
Costco Wholesale Corp reported quarterly revenue below Wall Street estimates on Thursday, as the U.S. hypermarket chain struggled to attract shoppers in the competitive grocery space.
Costco and other U.S. grocers are slashing prices while investing heavily in stores and online operations to defend their share of the market as Amazon.com Inc and Walmart expand aggressively. . . . more
U.S. holiday sales to rise up to 4.2% amid trade uncertainty
Reuters
U.S. holiday sales in 2019 are expected to be higher than a year earlier, the National Retail Federation said on Thursday, even as the retail sector grapples with fears of slowing global growth due to an ongoing U.S.-China trade war.
Sales in 2019 are estimated to grow between 3.8% and 4.2% to a range of $727.9 billion to $730.7 billion, the retail trade group said. That compares with sales of $701.2 billion, or 2.1% growth, in 2018.. . . more
U.S. holiday sales in 2019 are expected to be higher than a year earlier, the National Retail Federation said on Thursday, even as the retail sector grapples with fears of slowing global growth due to an ongoing U.S.-China trade war.
Sales in 2019 are estimated to grow between 3.8% and 4.2% to a range of $727.9 billion to $730.7 billion, the retail trade group said. That compares with sales of $701.2 billion, or 2.1% growth, in 2018.. . . more
H&M's fresh strategy ushers in first profit growth in 2 years
Retail Dive
H&M's new strategy, which has entailed scaling back previous plans for a brick-and-mortar expansion, stoking e-commerce and amplifying sustainability efforts in manufacture and at retail, is gaining traction.
The fast-fashion retailer's pullback from opening stores, with a net 120 new locations this year from about 175 in April, doesn't apply across the board, however, CEO Karl-Johan Persson noted in a statement Thursday. "In parallel with the integration of stores and online shopping we keep optimising the store portfolio, including more consolidation in established markets and expansion in growth markets," he said. . . . more
H&M's new strategy, which has entailed scaling back previous plans for a brick-and-mortar expansion, stoking e-commerce and amplifying sustainability efforts in manufacture and at retail, is gaining traction.
The fast-fashion retailer's pullback from opening stores, with a net 120 new locations this year from about 175 in April, doesn't apply across the board, however, CEO Karl-Johan Persson noted in a statement Thursday. "In parallel with the integration of stores and online shopping we keep optimising the store portfolio, including more consolidation in established markets and expansion in growth markets," he said. . . . more
US shopping mall vacancies hit eight-year high
Boston Business Journal
Vacancies in US shopping malls have hit an eight-year high but new data show that some areas are coping with the retail upheaval far better than others and the gap is widening.
The signs of difficulty in local retail property markets come as landlords brace for a wave of store closures following the bankruptcy of Forever 21 this week. The fast-fashion retailer, which has 32,800 employees globally, has earmarked 178 locations for closure across the US. . . . more
Vacancies in US shopping malls have hit an eight-year high but new data show that some areas are coping with the retail upheaval far better than others and the gap is widening.
The signs of difficulty in local retail property markets come as landlords brace for a wave of store closures following the bankruptcy of Forever 21 this week. The fast-fashion retailer, which has 32,800 employees globally, has earmarked 178 locations for closure across the US. . . . more
Thursday, October 3, 2019
Off-premise orders reach about 60% of foodservice occasions
Nation's Restaurant News
Off-premise orders continue to nibble into overall restaurant sales with those transactions now making up nearly 60% of foodservice occasions, according to new survey results from the National Restaurant Association.
Foodservice drive-thru, takeout and delivery are growing “as consumer lifestyles are continuously driven by the convenience and speed of online and app-based ordering in other industries,” the Washington, D.C.-based trade group said in releasing its new “Harnessing Technology to Drive Off-Premises Sales” survey.. . . more
Off-premise orders continue to nibble into overall restaurant sales with those transactions now making up nearly 60% of foodservice occasions, according to new survey results from the National Restaurant Association.
Foodservice drive-thru, takeout and delivery are growing “as consumer lifestyles are continuously driven by the convenience and speed of online and app-based ordering in other industries,” the Washington, D.C.-based trade group said in releasing its new “Harnessing Technology to Drive Off-Premises Sales” survey.. . . more
Macy’s to hire 80,000 holiday workers
Chain Store Age
Macy’s holiday hiring is on pace with last year, but it’s increasing seasonal positions in a fast-growing area of its business.
The department store giant plans to hire approximately 80,000 workers for positions at its Macy’s and Bloomingdale’s stores, call centers and distribution and fulfillment centers for the 2019 holiday season. The company’s physical stores will still account for a majority of the hires, but about 30,000 of the 80,000 seasonal positions will be based in fulfillment facilities, which is up some 6,500 positions from 2018. . . . more
Macy’s holiday hiring is on pace with last year, but it’s increasing seasonal positions in a fast-growing area of its business.
The department store giant plans to hire approximately 80,000 workers for positions at its Macy’s and Bloomingdale’s stores, call centers and distribution and fulfillment centers for the 2019 holiday season. The company’s physical stores will still account for a majority of the hires, but about 30,000 of the 80,000 seasonal positions will be based in fulfillment facilities, which is up some 6,500 positions from 2018. . . . more
Shoppers have more options for returning online purchases, even at rival retailers
The Dallas Morning News
Ahead of the holiday season, shoppers have more options to return unwanted items bought online as retailers look for new ways to drive traffic.
Plenty of retailers like Target and Walmart allow shoppers to easily drop off online returns at their stores. But now, a growing number of retailers are accepting rivals' returns.
The moves come as retailers aim to reduce costs while making it easier for shoppers to return online items. The average return rate for online transactions is 25% compared with 8% for store purchases, according to Forrester Research's online analyst Sucharita Mulpuru.. . . more
Ahead of the holiday season, shoppers have more options to return unwanted items bought online as retailers look for new ways to drive traffic.
Plenty of retailers like Target and Walmart allow shoppers to easily drop off online returns at their stores. But now, a growing number of retailers are accepting rivals' returns.
The moves come as retailers aim to reduce costs while making it easier for shoppers to return online items. The average return rate for online transactions is 25% compared with 8% for store purchases, according to Forrester Research's online analyst Sucharita Mulpuru.. . . more
Fast-Food Drive Thrus Got 20 Seconds Slower in 2019
QSR Magazine
Built for convenience, the drive thru has always had speed at its crux, but rising pressures pushed drive-thru speed of service up this year.
Customers spent an average of 255 seconds from speaker to order window in 2019, about 20 seconds longer than in 2018. And with menus becoming more complex and lanes possibly getting more crowded with not only drive-thru customers but also those picking up mobile orders, it's going to be difficult for brands to shave off seconds moving forward. . . . more
Built for convenience, the drive thru has always had speed at its crux, but rising pressures pushed drive-thru speed of service up this year.
Customers spent an average of 255 seconds from speaker to order window in 2019, about 20 seconds longer than in 2018. And with menus becoming more complex and lanes possibly getting more crowded with not only drive-thru customers but also those picking up mobile orders, it's going to be difficult for brands to shave off seconds moving forward. . . . more
Bed Bath & Beyond store closings: Retailer increases projected closures to 60
USA Today
Bed Bath & Beyond Inc. is increasing the number of stores it expects to shutter in the fiscal year.
The New Jersey-based home goods retailer, which also operates buybuy Baby, Harmon Face Values and World Market, says it will close 60 stores in the fiscal year across the company, up 20 from the April estimate of 40 stores.. . . more
Bed Bath & Beyond Inc. is increasing the number of stores it expects to shutter in the fiscal year.
The New Jersey-based home goods retailer, which also operates buybuy Baby, Harmon Face Values and World Market, says it will close 60 stores in the fiscal year across the company, up 20 from the April estimate of 40 stores.. . . more
Forever 21 likely to shutter these Boston-area stores
Boston Business Journal
Forever 21 is likely to shut down three Boston stores, according to the store closing list included in its most recent filings related to its Chapter 11 bankruptcy restructuring.
Up to 178 U.S. stores will close, including the ones at 343 Newbury St. and 459 Washington St., and the store in South Bay Center in Boston's Dorchester neighborhood. The specialty fashion retailer operates 549 stores across the U.S., and another 251 are operated internationally by affiliates.. . . more
Forever 21 is likely to shut down three Boston stores, according to the store closing list included in its most recent filings related to its Chapter 11 bankruptcy restructuring.
Up to 178 U.S. stores will close, including the ones at 343 Newbury St. and 459 Washington St., and the store in South Bay Center in Boston's Dorchester neighborhood. The specialty fashion retailer operates 549 stores across the U.S., and another 251 are operated internationally by affiliates.. . . more
Amazon opens its first '4-star' store in Massachusetts
Boston Business Journal
Amazon expanded its physical footprint in the Bay State by opening a 4,000-square-foot, so-called "4-star" store on the first level of the Natick Mall on Oct 2.
The Natick store is the company’s first of its type in the state and its third physical store in Massachusetts, adding to two Amazon Books stores in Dedham and Lynnfield.. . . more
Amazon expanded its physical footprint in the Bay State by opening a 4,000-square-foot, so-called "4-star" store on the first level of the Natick Mall on Oct 2.
The Natick store is the company’s first of its type in the state and its third physical store in Massachusetts, adding to two Amazon Books stores in Dedham and Lynnfield.. . . more
Wednesday, October 2, 2019
These 28 retailers could go bankrupt in the next year
Retail Dive
Forever 21's Chapter 11 filing is the latest reminder that the economic climate for many sectors of retail is still brutal. So far this year there have been more than 7,000 store closures — more than any full-year total to date — and 16 major bankruptcies.
Since the summer of 2017, when retail bankruptcies were reaching Great Recession-era levels, Retail Dive has compiled regular lists of distressed retailers potentially at risk of bankruptcy. . . . more
Forever 21's Chapter 11 filing is the latest reminder that the economic climate for many sectors of retail is still brutal. So far this year there have been more than 7,000 store closures — more than any full-year total to date — and 16 major bankruptcies.
Since the summer of 2017, when retail bankruptcies were reaching Great Recession-era levels, Retail Dive has compiled regular lists of distressed retailers potentially at risk of bankruptcy. . . . more
Dick's Sporting Goods to sell 8 Field & Stream stores
Retail Dive
Dick's Sporting Goods has agreed to sell eight of its Field & Stream stores, their inventory and related assets, to Sportsman's Warehouse for a total purchase price of $28 million, according to a company press release published on Monday. The deal is expected to close Oct. 11.
The Field & Stream stores will be rebranded to operate under the Sportsman's Warehouse banner and are located in Pennsylvania, New York, North Carolina and Michigan, according to the release. . . . more
Dick's Sporting Goods has agreed to sell eight of its Field & Stream stores, their inventory and related assets, to Sportsman's Warehouse for a total purchase price of $28 million, according to a company press release published on Monday. The deal is expected to close Oct. 11.
The Field & Stream stores will be rebranded to operate under the Sportsman's Warehouse banner and are located in Pennsylvania, New York, North Carolina and Michigan, according to the release. . . . more
Forever 21 Needs Older Shoppers to Come Back from Bankruptcy
NREI
The retailer filed for bankruptcy protection on Sunday, and its turnaround plan relies on luring in shoppers who are actually willing to buy clothes at full price -- one of the most elusive clientele in the industry.
These “high spender” customers, as it calls them, would be an attractive antidote to its reliance on deep discounts to attract teen shoppers paying with allowances. But it’s no easy feat for a retailer to change its core business model, especially when even the company’s name suggests it’s not a brand built for mature patrons ages 22 and up.. . . more
The retailer filed for bankruptcy protection on Sunday, and its turnaround plan relies on luring in shoppers who are actually willing to buy clothes at full price -- one of the most elusive clientele in the industry.
These “high spender” customers, as it calls them, would be an attractive antidote to its reliance on deep discounts to attract teen shoppers paying with allowances. But it’s no easy feat for a retailer to change its core business model, especially when even the company’s name suggests it’s not a brand built for mature patrons ages 22 and up.. . . more
Digital holiday spending looks strong
Chain Store Age
A shortened holiday selling season will not prevent double-digit growth in digital commerce revenue.
According to a new forecast from Salesforce, U.S. digital commerce revenue will grow 13% year-over-year (YOY) this holiday season, with total online sales reaching a record $136 billion in the U.S. and $768 billion globally. . . . more
A shortened holiday selling season will not prevent double-digit growth in digital commerce revenue.
According to a new forecast from Salesforce, U.S. digital commerce revenue will grow 13% year-over-year (YOY) this holiday season, with total online sales reaching a record $136 billion in the U.S. and $768 billion globally. . . . more
Mall Developer Simon Takes 50% Stake in Rue Gilt And Launches Online Outlet Marketplace
Fortune
Simon Property Group, a top U.S. developer of shopping centers, and digital commerce pioneer Rue Gilt Groupe, the owner of Rue La La and Gilt, are jointly building up an e-commerce marketplace that will cater to outlet mall shoppers, the companies said on Wednesday. In addition, Simon is taking a 50% stake in a new entity encompassing Rue Gilt and that website for $280 million.
The joint venture will propel e-commerce outlet shopping to a new level.. . . more
Simon Property Group, a top U.S. developer of shopping centers, and digital commerce pioneer Rue Gilt Groupe, the owner of Rue La La and Gilt, are jointly building up an e-commerce marketplace that will cater to outlet mall shoppers, the companies said on Wednesday. In addition, Simon is taking a 50% stake in a new entity encompassing Rue Gilt and that website for $280 million.
The joint venture will propel e-commerce outlet shopping to a new level.. . . more
National Development gets $400M round of funding, merges with Charles River
Boston Business Journal
Newton-based real-estate firm National Development is absorbing its longtime investment management platform, Charles River Realty Investors, on the heels of Charles River closing a $400 million fundraising round.
The merged entity will operate as one firm, with Charles River Realty executive Brian Kavoogian becoming one of National Development’s managing partners. Six Charles River employees will become National Development employees as well. The company will operate as a “seamless, vertically-integrated real estate investment, development, construction and operating company,” according to a press release.. . . more
Newton-based real-estate firm National Development is absorbing its longtime investment management platform, Charles River Realty Investors, on the heels of Charles River closing a $400 million fundraising round.
The merged entity will operate as one firm, with Charles River Realty executive Brian Kavoogian becoming one of National Development’s managing partners. Six Charles River employees will become National Development employees as well. The company will operate as a “seamless, vertically-integrated real estate investment, development, construction and operating company,” according to a press release.. . . more
Whole Foods Market To Open In Beverly, Mass., In October
The Shelby Report
Whole Foods Market will open its new 34,500-s.f. Beverly, Massachusetts, store on Friday, Oct. 18. Opening day celebrations will include complimentary coffee, pastries and music before the store opens. The first 200 customers will receive a custom Whole Foods Market Beverly reusable canvas tote bag and a savings card with a mystery value ranging between $5 and $100.
Whole Foods Market Beverly will employ approximately 150 full- and part-time employees. The store will be open 8 a.m.-10 p.m. daily. Whole Foods Market has 32 additional stores in Massachusetts.. . . more
Whole Foods Market will open its new 34,500-s.f. Beverly, Massachusetts, store on Friday, Oct. 18. Opening day celebrations will include complimentary coffee, pastries and music before the store opens. The first 200 customers will receive a custom Whole Foods Market Beverly reusable canvas tote bag and a savings card with a mystery value ranging between $5 and $100.
Whole Foods Market Beverly will employ approximately 150 full- and part-time employees. The store will be open 8 a.m.-10 p.m. daily. Whole Foods Market has 32 additional stores in Massachusetts.. . . more
Tuesday, October 1, 2019
What the retail apocalypse means for the American economy
CNN Business
The retail apocalypse over the past several years has devastated America's department stores, chains and mom-and-pops. Stores are closing at record levels. The number of people working in retail is on the decline.
And all of that happened at a time when the economy was strong.
But if the United States slips into a recession, as many economists fear it will sometime next year, the problems plaguing retail could get far worse. Store closings could accelerate and layoffs in the sector — a major provider of American jobs — could spread.. . . more
The retail apocalypse over the past several years has devastated America's department stores, chains and mom-and-pops. Stores are closing at record levels. The number of people working in retail is on the decline.
And all of that happened at a time when the economy was strong.
But if the United States slips into a recession, as many economists fear it will sometime next year, the problems plaguing retail could get far worse. Store closings could accelerate and layoffs in the sector — a major provider of American jobs — could spread.. . . more
Here’s why the Forever 21 bankruptcy could be really bad news for US mall owners
CNBC
Multiple retail real estate analysts who spoke with CNBC agree that Forever 21 store closures could cause mall owners like Simon Property Group and Macerich more trouble than when other apparel retailers shut down.
The average Forever 21 store is close to 40,000 square feet but there are some locations that span more than 100,000, which is more like the size of a traditional department store. Larger locations can prove to be much more difficult to fill. . . . more
Multiple retail real estate analysts who spoke with CNBC agree that Forever 21 store closures could cause mall owners like Simon Property Group and Macerich more trouble than when other apparel retailers shut down.
The average Forever 21 store is close to 40,000 square feet but there are some locations that span more than 100,000, which is more like the size of a traditional department store. Larger locations can prove to be much more difficult to fill. . . . more
Amazon Go cashierless store technology could be coming to airports and movie theaters
GeekWire
As it slowly rolls out new Amazon Go locations in Seattle and other cities, Amazon is reportedly eyeing other ways to get people to experience its cashierless technology, possibly through third-party licensing and implementation at airports, movie theaters and maybe even baseball stadiums.
According to a report Monday by CNBC, people familiar with Amazon’s intentions say that the tech giant is in talks to bring its Go technology to CIBO Express retail locations at airports and to Regal Cinemas theater locations. . . . more
As it slowly rolls out new Amazon Go locations in Seattle and other cities, Amazon is reportedly eyeing other ways to get people to experience its cashierless technology, possibly through third-party licensing and implementation at airports, movie theaters and maybe even baseball stadiums.
According to a report Monday by CNBC, people familiar with Amazon’s intentions say that the tech giant is in talks to bring its Go technology to CIBO Express retail locations at airports and to Regal Cinemas theater locations. . . . more
J. Crew is your ex who had 'potential'
Retail Dive
J. Crew has been drowning for quite some time. The specialty apparel store worked from the 1990s through the mid-2000s, but took a decided turn downward during The Great Recession.
During her tenure, then-executive director Jenna Lyons attempted to elevate the company. The most glaring movements away from the brand ethos came when, in a fit of horrible timing, Lyons introduced an edgier fashion vision and raised prices at the exact moment everyone was tanking financially.. . . more
J. Crew has been drowning for quite some time. The specialty apparel store worked from the 1990s through the mid-2000s, but took a decided turn downward during The Great Recession.
During her tenure, then-executive director Jenna Lyons attempted to elevate the company. The most glaring movements away from the brand ethos came when, in a fit of horrible timing, Lyons introduced an edgier fashion vision and raised prices at the exact moment everyone was tanking financially.. . . more
Shoppers can buy the ring — and get hitched — at Helzberg Diamonds stores
Chain Store Age
Helzberg Diamonds is taking its customer service to the next level.
The jewelry retailer ordained hundreds of its store associates through an exclusive partnership with Universal Life Church, enabling the employees to legally perform marriage ceremonies in the U.S. The service is being offered, free of charge, at all of Helzberg Diamonds’ 200-plus stores, beginning Oct. 2, 2019. . . . more
Helzberg Diamonds is taking its customer service to the next level.
The jewelry retailer ordained hundreds of its store associates through an exclusive partnership with Universal Life Church, enabling the employees to legally perform marriage ceremonies in the U.S. The service is being offered, free of charge, at all of Helzberg Diamonds’ 200-plus stores, beginning Oct. 2, 2019. . . . more
This chart shows why the holidays are becoming less important to retailers
CNBC
The holiday season is less and less important for retailers, as more shopping moves online, according to a new study.
Coresight Research called out “the ongoing trend of holiday shopping becoming less important to key retailers.” It said the holiday season accounted for almost 24% of all retailers’ sales in the late 1990s, but is closer to 21% today. And Coresight is expecting that percentage to continue to shrink. . . . more
The holiday season is less and less important for retailers, as more shopping moves online, according to a new study.
Coresight Research called out “the ongoing trend of holiday shopping becoming less important to key retailers.” It said the holiday season accounted for almost 24% of all retailers’ sales in the late 1990s, but is closer to 21% today. And Coresight is expecting that percentage to continue to shrink. . . . more
Amazon’s Grocery-Store Plan Moves Ahead With Los Angeles Leases
The Wall Street Journal
Amazon.com Inc. is advancing a plan to open a chain of U.S. grocery stores with early outposts in Los Angeles, Chicago and Philadelphia, according to people familiar with the matter.
Amazon is planning to operate dozens of grocery stores in cities across the country, part of the online giant’s increasing focus on a bricks-and-mortar presence to find more ways to reach consumers.
Many of the proposed locations are outside urban cores and cater to middle-income consumers. Apart from prepared foods, they will stock mainstream groceries such as soda and Oreos, people familiar with the matter said. . . . more
Amazon.com Inc. is advancing a plan to open a chain of U.S. grocery stores with early outposts in Los Angeles, Chicago and Philadelphia, according to people familiar with the matter.
Amazon is planning to operate dozens of grocery stores in cities across the country, part of the online giant’s increasing focus on a bricks-and-mortar presence to find more ways to reach consumers.
Many of the proposed locations are outside urban cores and cater to middle-income consumers. Apart from prepared foods, they will stock mainstream groceries such as soda and Oreos, people familiar with the matter said. . . . more
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