Strategy

Athletic giant adidas has opened a giant of a flagship, on the corner of Fifth Avenue and 46th Street in Manhattan. The four-story, 45,000-sq.-ft. store is the brand’s largest location in the world.    The new space marks the debut of adidas’ stadium retail concept, which is inspired by high school stadiums and celebrates creativity in sport. The store features a tunnel entrance, stands for live-game viewing on big screens, locker room-styled dressing rooms and track and turf sections where customers can try out products.

J.C. Penney is often associated with an older shopper demographic. But its comeback is being fueled, at least partially, by a surprising group.    Millennial moms now account for 45% of Penney's revenue, CNBC reported, and the group is also driving much of the growth in the company's sales and customer count.   

Kroger Co. lowered the higher end of its full-year adjusted profit forecast amid a “difficult” operating environment, marked by falling food prices and increased competition.    The nation’s largest grocery store operator reported net earnings of $391 million, or $0.41 per diluted share, and identical supermarket sales growth, without fuel, of 0.1% in the third quarter, which ended on Nov. 5. Net earnings in the same period last year were $428 million, or $0.43 per diluted share.  

VEREIT has purchased a 10.5-acre Sam’s Club property in Timonium, Maryland—just north of Baltimore — for $18.3 million in cash.   “The seller was able to secure an early lease extension prior to the sale, which created a well-positioned, long-term passive investment for the new ownership,” said Jon Busse, Senior VP at Colliers International, which handled the deal on behalf of the seller, Diamond Timonium LLC.  

Express reported a drop in third-quarter profit and slashed its full-year adjusted earnings outlook, warning that the holiday season will "remain challenging."   In recent days, an array of apparel retailers have expressed caution about the holiday selling season, including Gap, Abercrombie & Fitch  and American Eagle Outfitters.    Express earned $11.6 million, 15 cents per share, for the quarter ended Oct. 29, down from $26.3 million, or 31 cents per share, a year earlier.

McLean, Virginia-based S2 Capital Partners has purchased an 8-acre center on the outskirts of Richmond with plans to build it out to its full potential.   The company paid $12 million for the 52,000-sq.-ft. Stonebridge Marketplace, and principal Rob Seidel told Richmond Biz Sense that it plans to add 7,200-sq.-ft. and 8,400-sq.-ft. buildings to fill out the strip that fronts a 123,000-sq.-ft. Kroger Marketplace.   Current tenants include Firestone, Panda Express, Mattress Firm, Qdoba, and AT&T.

It’s been quite a tumultuous few years for American Apparel. Between its signature oversexed ad campaigns, founder and former CEO Dov Charney’s fall from grace, and ongoing financial trouble, there’s no shortage of controversy surrounding the apparel company. Most recently, American Apparel filed for bankruptcy for the second time in 13 months amid a $66 million acquisition by Montreal-based Gildan Activewear Inc.   

Beauty stores are hot — and shoppers around the globe can’t seem to get enough of them.     With hundreds of new door openings during 2015-2016, boutique beauty stores remain on a high growth trajectory, according to an upcoming study from market intelligence and research firm Kline.