Finance & Capital Management

The party is over for shoppers that enjoyed tax-free online shopping — on Amazon, anyway.   Starting on April 1, Amazon will collect sales tax from all states that have a tax levy. Only the five states that do not have a state sales tax — Alaska, Delaware, Oregon, Montana and New Hampshire — will remain exempt.   

Plummeting retail occupancy rates have Manhattan landlords in a generous mood.   According to a Bloomberg report, Manhattan landlords are offering their retail clients such giveaways as interior redesigns and moving expenses to keep storefronts from going dark.  

Colliers International has announced the hiring of Wayne L. Kasbar as managing director in its Parsippany, New Jersey, office. He will focus on the retail sector.   Kasbar comes to Colliers from Silbert Realty & Management Company, where he oversaw the brokerage team covering New Jersey, New York, Pennsylvania, and Connecticut. Prior to that, he spent five years at Trammel Crow, now part of CBRE, leaving there as VP of brokerage services.  

As margin pressures increase, more retailers are adopting new supply chain technologies to streamline operations and remain competitive.   Specifically, nearly three-quarters (74%) of top retail executives in procurement said that supply chain technology can provide a significant competitive edge, according to the inaugural Retail Pulse survey from C2FO.   

Rent-A-Center Inc. has taken action to reduce the likelihood that an investor gains unsolicited control of the company.   The nation's largest rent-to-own operator has adopted a stockholder rights plan, or a so-called poison pill, that would become exercisable if a group buys 15% or more of its outstanding shares.  

A Publix Super Markets associate who started his career with the company as a part-time meat cutter has been named VP of real estate strategy.   Publix promoted Bob Balcerak to the top real estate post, effective April 3, 2017. As VP, he will oversee the selection of new sites and management of leased properties for Publix stores.     

The failure of President Trump and the Republicans in Congress to repeal and replace the Affordable Care Act was shocking enough for business owners but it is the road ahead that should give operators some real heartburn.  

A new deal could give Amazon a foothold in the Middle East.   Amazon has agreed in principle to buy Souq.com, a leader in the Middle East's online shopping market, according to a report in Reuters.   

MC Sports, a longtime fixture in the Midwest that filed for bankruptcy in February, has put leases on its stores in seven states up for auction.   The 58 stores range in size from 11,000 to 46,000 sq. ft. and are located in Iowa, Illinois, Indiana, Michigan, Missouri, Ohio, and Wisconsin. Bids are due by April 7 to A&G Realty Partners, which is handling the auction.  

Meijer continues to expand its presence in the Indianapolis area.   On May 2, the retailer will open two supercenter in McCordsville, Ind., and one in Franklin, Ind.   The Indianapolis-area supercenters are two of seven new stores Meijer is opening in Indiana, Michigan and Wisconsin this year.