Strategy

Surging rents in Manhattan have claimed another victim, and this time it's one of the city's most iconic retail establishments.

Ascena Retail Group may be looking to attract younger, more career-oriented shoppers with its $2.15 buyout of rival Ann Inc.

The retailer formerly known as Restoration Hardware has hired a chief real estate officer to lead the latest installment of its evolution into a "design gallery": a 70,000-square-foot store in Las Vegas.

Jo-Ann Fabric and Craft Stores is teaming up with an A-list celebrity mom on a new line of craft kids for children.

The retailer has nabbed an exclusive partnership with Jennifer Garner on a new line of creative kits and projects for active kids. We Made It by Jennifer Garner will be available exclusively at Jo-Ann stores and Joann.com beginning in June. 

Retailers are poised to benefit from a new deal between Accenture and Javelin Group, a UK-based retail strategy consulting and digital transformation services provider.

The acquisition will expand the capabilities of Accenture Strategy to help the world’s leading retailers and consumer brands accelerate their digital transformation. Terms of the acquisition were not disclosed, and completion of the acquisition is subject to regulatory approval and other customary closing conditions.

Google Inc. is reportedly planning to start providing users with “Buy” buttons in their search results within the next few weeks.

Kohl’s is preparing to open a store in Southern New Jersey called "Off Aisle by Kohl's," a name that suggests the company may be following the lead of other retailers opening off-price formats.

It is not readily apparent what the assortment or pricing will be at the new offering from Kohl's. Multiple attempts to reach representatives at Kohl's were unsuccessful.

Boise, Idaho -- The parent company of Albertson's, New Albertson's and Safeway (collectively Albertsons), AB Acquisition LLC, has appointed industry veteran Mark Panzer as senior VP of pharmacy, health and wellness, overseeing the company's 1,760 pharmacies in 34 states across the country. Panzer succeeds Darren Singer, who has left the company to pursue other opportunities.

Vancouver -- Fast-growing Canadian online footwear retailer Shoes.com has reported record first quarter. In its first quarterly financial report since consolidating three online businesses under one platform, the company reported an increase in gross revenue of 89% to $60 million and a 129% increase in revenue from repeat customers.

Gross profit margins remained robust at 44%.

By Mike Kercheval, International Council of Shopping Centers

As tens of thousands of retail real estate industry members head to Las Vegas for ICSC’s annual RECon event, I find myself reflecting on the evolution of the industry and the fundamental changes that will affect the shopping center business over the next five years.