Archive for the 'ICSC' Category

ICSC: Could be Better, Could be Worse

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.”
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ICSC: Sarah Palin Calls Obama an Addict

Sarah Palin, the former governor of Alaska, said at the ICSC RECon show in Las Vegas that President Obama has an addiction problem. He’s addicted to OPM (pronounced by her as “opium”), she said, referring to an acronym for Other Peoples’ Money.

And that was the main message of her keynote speech to kick off the largest retail real estate convention in the world. The former vice presidential candidate stuck with politics and the differences between her and the Democrats rather than talk much about the retail industry like past keynotes such as former President Bill Clinton and cycling champion Lance Armnstrong.
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What Do You Expect From ICSC’s RECon This Year?

ICSC’s RECon show in Las Vegas, the biggest retail real estate event of the year, is nearly upon us with the convention starting in just over a week.

A lot has changed this year. There will be no leasing mall in the Las Vegas Convention Center’s North Hall, no events in the Las Vegas Hilton, and the show is shortened by one day (ending on Tuesday), making the three-day affair an event packed with educational sessions and other happenings.
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ICSC Sees ‘Better Times Ahead’

The retail industry is turning around, according to Michael Kercheval, president and CEO of the International Council of Shopping Centers. But a recovery might take a little longer than other areas of the economy, he says in a report looking back on 2009.

“It could take 1.5 to 2 years before we are likely to see a full recovery in the shopping center industry,” Kercheval writes.
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A Good Black Friday? Ask Abercrombie

November’s same-store sales were released yesterday, and retailer’s results were far from overwhelming. The International Council of Shopping Centers says sales overall were actually down 0.8% year over year for the month.

Dow Jones has a pretty comprehensive list of individual retailer performance, and there are a lot of duds. Saks plunged 26.1%. Abercrombie & Fitch fell 17%. Children’s Place dropped 13%.
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Prepare For a Flat Holiday

Most predictions we are seeing out there call for flat or slight negative drop in this year’s holiday sales. The National Retail Federation just came out with its prediction, a 1% decrease.

The drop might not be as bad as last year, but we still think it’s extreme, considering the industry will still suffer a decline over the major 3.4% fall the NRF calculated after 2008’s numbers came in.
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Rooms Ain’t Spendy at ICSC’s RECon

If there’s not a very big showing at next year’s International Council of Shopping Centers RECon show in Las Vegas, it’s probably won’t be because of high hotel rates. The organization’s travel agency recently released convention-attendee hotel rates, and they’re pretty darn cheap.

The catch (there’s always one, right?) is that you have to book early, as many of these prices will go up this month. But the good thing is that you can cancel your room up to two weeks before your reservation.
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Big Changes Ahead at ICSC’s RECon in Vegas

We just saw a memo sent out to International of Council Shopping Centers members describing changes at its RECon convention next year. There are a few big highlights.

The show will have no events in the Las Vegas Hilton or the North Hall of the Las Vegas Convention Center next year. All leasing mall, trade show and educational-session events will now get consolidated into the South and Central halls of the convention center.
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Retailers Say Rent Relief Is Working

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’

RECon Report: What Is Going On???

OK. Things at the International Council of Shopping Centers RECon conference in Las Vegas are getting a little confusion. One person tells us that retailers are getting rent reductions and someone else says that they’re not budging on giving concessions. Someone says the recession is going to be over by the end of the year, and someone else will say that the commercial real estate industry will feel pain through 2012.

Our head is spinning, and it’s not just the heat.
Continue reading ‘RECon Report: What Is Going On???’

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September 2020

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