The NYT Asks: Is Our Love Affair with the Mall Over?

 Bricks-and-Mortar, USA  Comments Off
Feb 022009
 

Amusement Park at the Mall of America in suburban Minneapolis - St. Paul

Reporters make a pilgramige to the mother of all malls — MOA in Bloomington, Minnesota — to ask shoppers if our 50-year-old relationship with malls is on the rocks.  The Times reporters talked to retail tenants, who aren’t buying mall management’s claim that 2008 sales were up two percent over the prior year.  They report significant sales declines and point to discount signage throughout the mall’s four concourses.  Is it possible that the concept of shopping-as-entertainment is really on the decline?  For more on troubles afflicting malls, you might want to check out DeadMalls.com.  The New York Times Jan. 31, 2009

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Macy’s to Close 11 Stores in 9 States

 Bricks-and-Mortar, USA  Comments Off
Jan 082009
 

In the wake of weak holiday sales, Macy’s today announced plans to close eleven underperforming stores in Los Angeles, West Palm Beach, Fla., Nashville, Tenn., and St. Louis and other locations.  Clearance sales at the stores begin next week.  AP via Yahoo! Finance Jan. 8, 2008

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No Xmas Miracle; Retailers Report Dismal Holiday Sales

 Bricks-and-Mortar, Research, Trends, Forecasts  Comments Off
Jan 082009
 

Retail sales fell 2.2 percent for the November/December holiday shopping season, the biggest decline in almost 30 tears, according to the International Council of Shopping Centers.  The 1.7% drop in December sales came on the heels of a 2.7 percent decline during the previous month, as consumers fretted about tightened budgets and job insecurity.  Luxury department stores like Neiman Marcus, Bergdorf Goodman and Nordstrom, plus many non-anchor, mall-based retailers experienced double digit sales declines.  The New York Times Jan. 8, 2009

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November Retail Sales Figures Weakest in 35 Years

 Bricks-and-Mortar, USA  Comments Off
Dec 052008
 

“The International Council of Shopping Centers … described November’s figures as the weakest in more than 35 years.  Declines were recorded in every retail segment the group tracks, with the biggest coming from department stores…” where sales were down 13.3 percent compared with November a year ago, and specialty apparel retailers, where sales were down 10.4 percent.”  Same store sales at chains that did not make use of unprecedented discounting got hammered.  The New York Times Dec. 5, 2008

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Layaway Makes a Comeback

 Bricks-and-Mortar  Comments Off
Oct 222008
 

Thanks to the credit crunch and consumers’ growing reluctance to take on additional debt, the depression-era, retail innovation of layaway is making at least a mini comeback.  Kmart is even highlighting the service in its Holiday advertising campaign.  The Wall Street Journal Oct. 22, 2008  Paid subscription may be required.

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QVC Outlet in Southwest Florida to Close

 Bricks-and-Mortar, DRTV Retailer, USA  Comments Off
Oct 212008
 

The QVC outlet in Estero, Florida — 20 miles south of Fort Myers, and one of only five outlets nationwide — has not re-upped the lease on its space in the Miromar Outlets retail development, and will close before year-end.  News-Press (Fort Myers, FL) Oct. 20, 2008

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Latest Retail Victim of Financial Crisis — Mervyn’s

 Bricks-and-Mortar, USA  Comments Off
Oct 202008
 

“Mervyn’s joins other retailers, like Linens ‘n Things, that have folded their operations after the financial-sector meltdown squeezed off sources of financing.”  The California-based department store will close after a Holiday “going-out-of-business” sale.  The Wall Street Journal Oct. 18, 2008  Paid subscription may be required.

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Former ValueVision Exec Lynne Hempe Joins Goody’s Family Clothing Inc.

 Bricks-and-Mortar, Talent  Comments Off
Oct 102008
 

Ms. Hempe, who at one time was ValueVision’s vice president, home, ready-to-wear and cosmetics, will become chief merchandise officer for Knoxville, TN-based apparel retailer Goody’s.  Her responsibilities will include e-commerce, as well as merchandising and product development.  Internet Retailer Oct. 13, 2008

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Analyst: Holiday Season May be Worst in 25 Years

 Bricks-and-Mortar, Research, Trends, Forecasts  Comments Off
Oct 082008
 

With September sales info for retail stores coming in, there’s no surprise: it’s bad.  Same-store sales at Stein Mart, J.C. Penney and Dillard’s all dropped by double-digit percentages last month, while warehouse clubs bucked the trend to post gains.  “In general, the weakest categories were non-essentials like house wares, electronics, jewelry and women’s apparel.  Sales were driven by and large by necessities like food and, in some cases, children’s clothing.”  One observer worried that this could be a Holiday seasons of movie tickets and board games.  The New York Times Oct. 8, 2008

 Posted by admin at 2:04 pm  Tagged with:
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