Strategy

By Graeme McVie, VP, LoyaltyOne, [email protected]

Statistics tell the story: the U.S. population is getting older at a dramatic rate. The Department of Health & Human Service’s Administration on Aging estimates that nearly 55 million people – nearly one-in-six – will be age 65 or older by 2020, compared with 40 million in 2010.

New York -- Whole Foods Market has inked a deal for a new location in the Bryant Park area of Manhattan – on Sixth Avenue between 41st and 42nd Streets.

A Wall Street Journal report, which cited unnamed sources, said that the grocer has agreed to take 10,000 sq. ft. on the ground floor and 22,000 sq. ft. on the second floor at 1095 Sixth Ave., a building owned by a Blackstone Group fund.

Retailers were well represented on the 2013 edition of a best and worst CEOs list compiled by a business professor at a leading university.

Amazon.com founder and CEO Jeff Bezos topped the list of best CEOs, compiled by Sydney Finkelstein, associate dean for executive education and the Steven Roth professor of management at the Tuck School of Business at Dartmouth. Making the list of worst CEOs were former J.C. Penney CEO Ron Johnson and current Sears Holdings chairman and CEO Eddie Lampert.

Houston – Growth in the Houston retail estate market is expected to follow strong residential real estate growth in 2014. According to a report from NewQuest Properties delivered at the recent BoyarMiller Real Estate Forum, there are about 15 new shopping centers planned or under way in Houston.

In addition, the Houston retail sector is struggling to keep up with growth in the city and experiencing very low vacancy and default rates

Bentonville, Ark. – Wal-Mart India is laying off roughly 100-150 senior to mid-level employees. The Financial Press quotes anonymous executives as saying Wal-Mart India, which currently employs about 1,100 workers, beefed up staffing in anticipation of an expansion that has now been put on hold.

Wal-Mart runs 20 wholesale stores in India. The retailer previously ran them in a joint venture with Indian company Bharti Enterprises, but since that partnership was dissolved in October 2013 Wal-Mart India has been taking on Bharti employees.

Tucson, Ariz. — Floor & Décor has signed a long-term lease for a 58,205-sq.-ft. space at ABC Retail Center in Tucson, Ariz. It will be the specialty retailer’s first location in Tucson.

CBRE represented Floor & Décor in the transaction. The landlord, ABC Broadway/Kolb Center LLC of Tucson represented itself.

Norwalk, Conn. -- GE Capital, Corporate Retail Finance said it is administrative agent on a $250 million senior revolving credit facility for regional sporting goods retailer Dunham’s Athleisure Corp.

The proceeds will support ongoing working capital needs and new store growth.