Corporate Governance

When it comes to retail diversity, Manhattan is about as inclusive as it gets.

A first-of-its-kind survey of 906 existing retailers in three of Manhattan’s leading shopping districts (SoHo, Fifth Avenue, and Madison Avenue) found a virtual “United Nations” of merchants originating from 26 countries. The Cushman & Wakefield study found that nearly four out of 10 retailers – 39% -- originate from outside the United States.

Vineland, N.J. -- PREIT announced its plans to open a Dick's Sporting Goods at Cumberland Mall in Vineland, New Jersey. The sports and fitness retailer will occupy the former J.C. Penney Department Store space in a 50,000 sq. ft. location.

“This transaction demonstrates PREIT's continued success in replacing anchors with in-demand retailers,” states Joseph F. Coradino, CEO for PREIT "The addition of Dick's Sporting Goods will improve the merchandise mix and solidify the tenant roster at Cumberland Mall.”

The demise of The Great Atlantic & Pacific Tea Co. elevated the retail vacancy rate along central New Jersey’s major shopping corridors to 8.8% from 7.5% in 2014.

That’s according to the latest study by R.J. Brunelli & Co. Despite the uptick, the region’s 2015 vacancy factor remained a healthy distance from the 10.2% recorded in 2013 and the eight-year high of 10.5% set in 2011, but was well above the period’s low point of 4.8% posted in 2008.

Allen, Texas -- Trademark Property, announced that jewelry designer Kendra Scott will open at Watters Creek at Montgomery Farms, the 800,000-sq.-ft. mixed-use center in Allen, Texas. The 2,054 sq. ft. boutique, which will be located near White House | Black Market and Anthropologie, is slated to open in spring 2016.

CVS Health has completed its acquisition of Target’s pharmacy and clinic business for approximately $1.9 billion, the two companies announced Wednesday.

Charming Charlie opened its first location in the Philippines, at Bonifacio High Street Central Square.

The location showcases the brand’s newest retail store concept, and features signature double doors in vibrant pink lacquer and a residential-style interior that mixes feminine, mid-century accents with luxe materials and whimsical details.

In the Philippines, Charming Charlie is exclusively distributed by Stores Specialists, a member of SSI Group, Inc., which has further growth planned for the brand in Cebu and Manila next year.

2015 has been a good year for e-commerce. Alibaba shattered records on Singles Day with $14.3 billion in sales. India witnessed a boom in e-commerce investment from companies looking to win the millions of new smartphone users. Even the Girl Scouts joined the digital mix, rolling out version 2.0 of their Digital Cookie program to boost their online cookie sales.

2015 has been a good year for e-commerce. Alibaba shattered records on Singles Day with $14.3 billion in sales. India witnessed a boom in e-commerce investment from companies looking to win the millions of new smartphone users. Even the Girl Scouts joined the digital mix, rolling out version 2.0 of their Digital Cookie program to boost their online cookie sales. We expect even bigger things from 2016.