Strategy

Herberger’s has moved to a new location at the Valley View Mall in LaCrosse, Wisconsin, “right-sizing” to a 100,000-sq.-ft. space in a spot recently vacated by Macy’s. Herberger’s was the sixth tenant to backfill vacant department store space at a PREIT-owned mall this year.  

Women's footwear brand Aerosoles has filed for Chapter 11 bankruptcy protection as it looks to shutter nearly all of its U.S. stores.   The company has about 80 stores in the United States, and also sells its shoes through other retailers. It has begun store closing sales and is seeking approval from the Bankruptcy Court to proceed with the sales. Aerosoles said it plans to maintain four flagships, in New York and New Jersey, and will also enhance its e-commerce, wholesale and international businesses.    

Despite the ramping up of global data regulations, most consumers are concerned about how companies collect and use their information.   In fact, an overwhelming 96% of consumers are "somewhat" to "extremely" concerned about data collection and usage. This is understandable, as more than 75% engage in digital payment transactions at least once a month.  

Gap Inc. CEO Art Peck is refocusing the 3,000-store company on the areas with the biggest potential for driving growth — and they do not include its oldest divisions.   “We’re certainly not giving up on Gap or Banana [Republic], but we’re acknowledging the world continues to change,” Peck said in an interview with Bloomberg.  “And those are the two most mature brands in the portfolio.”  

Fewer stores translates into reduced holiday hiring for Macy's this year.   Macy's plans to hire a total of 80,000 workers for the holiday rush, down from about 83,000 last year. The company has been closing underperforming stores and currently operates some 70 fewer stores than it did last year.  

Even headquarters have shelf life.   Walmart is planning to build a new, central headquarters — one better suited to a "digitally native" workforce — in its hometown of Bentonville, Arkansas. The discount giant revealed the news in a note by CEO Doug McMillion on the company's website.   

British supermarket giant Tesco puts a friendlier and more contemporary spin on its hypermarket format at its revamped store in Swansea, Wales.   The new format, developed by Swedish design firm Blink in collaboration with Tesco's in-house team and corporate identity group Wolff Olins, offers innovative digital services, a more personal approach and simplified shopping for different needs. The remodeled store, which opened in June, is delivering a significantly higher profit, according to Blink.    

CBL is launching a pilot program at two of its malls that will more closely measure the volume and the specific nature of traffic.   The initiative, directed by RetailNext, will place cameras at various points on the properties that not only count heads, but determine shoppers’ genders and approximate their ages within five years. The test will take place at Hamilton Place in Chattanooga, Tennessee, and Asheville Mall in Asheville, North Carolina.