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’
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?’
If some bidders for bankrupt retailer Eddie Bauer have their way, the apparel company will liquidate its 370 stores and live its future life as an e-tailer, the New York Post says.
The two hedge funds that control Eddie Bauer’s $200 million in debt, Monarch Alternative Capital and Anchorage Advisors, are considering teaming up with Hilco Consumer Capital and Gordon Brothers. Hilco, Gordon Brothers and Monarch together bought the Linens ‘n Things name, which now sells items online after its stores folded.
Continue reading ‘Eddie Bauer Going Online-Only?’
We’ve been getting a LOT of these emails lately from Linens ‘n Things. It’s funny how the stores don’t exist any more but the e-commerce site lives on. This article says that the same is the case for Circuit City and some other retailers that have closed. Do you see anyone actually buying stuff from these websites or is it just more wishful thinking?
It’s been kind of quiet on the mass store-closure front, hasn’t it?
Sure, we’ve seen a lot of damage with the Circuit City/Linens closures, and it seems like there could be unsurprising news from Blockbuster some time soon. But didn’t you think that by this time in 2009 there would be more fallout from major chains?
Continue reading ‘Are Major Store Closures Over?’