Published May 24, 2010
Cassidy Turley , Children's Dental Care , Circuit City , Coldwell Banker Commercial , CVS , Developers Diversified Realty , Fresh & Easy , ICSC , Jones Lang LaSalle , Linens 'n Things , Newmark Merrill Companies , Taubman Centers , Tesco
The retail real estate industry is far from its high-flying days of 2007 and before, but most executives we spoke with at ICSC’s RECon show weren’t about doom and gloom. Things are looking up…kind of.
“We’re seeing more demand for retail space,” said Scott Schroeder, vice president of marketing at Developers Diversified Realty. “It’s good. We’re not completely back, but we’re headed in the right direction.”
Continue reading ‘ICSC: Could be Better, Could be Worse’
This Minneapolis Star Tribune article looks at the prospect of cutting up vacant big-box stores into multiple spaces for smaller tenants. Landlords certainly have room to get creative with the closures of Circuit City, Linens ‘n Things and others, while it seems like large-format retailers aren’t expanding like they used to.
But the prospect is also much more expensive than finding a replacement tenant, shopping center owners say.
Continue reading ‘Does De-Boxing Work?’
At least one major chain is taking advantage of the demise of its main competitor. Bed Bath and Beyond, helped by the demise last year of Linens ‘n Things, turned in a pretty good second quarter, posting a 14% profit increase, a 3% revenue jump and a same-store sales slide of less than 1%.
That’s a lot better than Best Buy has done since its main rival, Circuit City, went under. Same-store sales during the electronics chain’s second quarter fell 3.9% and earnings came in at $159 million, down from $202 million during the same year-ago period.
Continue reading ‘Bed Bath Betters Best Buy’
Published September 1, 2009
Best Buy , Circuit City
Best Buy is opening 22 new stores in its third quarter, making the total number for the year so far planned at 43. Not surprisingly, that is way down from the 185 it opened during its last fiscal year.
Some highlights of its new stores include one in New York City’s Union Square and a fifth location in Puerto Rico. You can view the entire new-store opening list here.
Continue reading ‘Best Buy Slows Growth’
Office Depot turned in its second-quarter results yesterday, and they weren’t pretty. Same-store sales fell 18% year over year, and the retailer posted an $82-million loss.
Now the office-supplies chain is coming up against what is promised to be a miserable back-to-school season. Many see this period as heavily promotional with major competition from rivals like Staples and discount chains.
Continue reading ‘More Office Depot Closures Ahead?’
Another interesting article appeared today on rent relief at shopping centers.
Apparently Starbucks has had success in receiving concessions from landlords, in its quest to lower rents by as much as 25% at some of its locations. Additionally, jeweler Zale Corp. earlier this week joined the ranks of retailers looking to catch breaks, and we wrote about Charming Shoppes’ strategy yesterday.
Continue reading ‘Retailers Say Rent Relief Is Working’