Events

It may only be the first week of November, but American shoppers are steadily crossing items off of their holiday shopping lists.   As of the end of September, one-third (33%) of consumers had already started their holiday shopping, up significantly from 25% in 2015. Further, they expect to spend an average of $908, an 8% increase from last year ($839 in 2015). Among affluent consumers, this threshold increases to an average of $1,513.  

Petco will celebrate the grand opening of nine new stores nationwide in November and December.   The openings are in keeping with the company’s fast-paced 2016 growth plan, which includes 63 new Petco stores and one new Unleashed by Petco store year-to-date.   In addition to the nine new locations, Petco will also celebrate the grand reopening of a relocated store in Kettering, Ohio.  

As a teaser for its Thanksgiving Day opening, Kohl’s is launching a one-day Black Friday sale Wednesday, Nov. 3.   Available in-store and on its website, Kohl’s will feature one day of Black Friday deals for shoppers eager to get a jump on their holiday shopping. The program supports its holiday tagline, the “First Place to Stop and Best Place to Shop.” Featured merchandise includes Serta gel memory foam mattresses, 50-inch LED TVs, inflatable hot tubs, and appliances, such as food processors, among other merchandise.

Office Depot saw its profit rise in the third quarter as cost-cuts and a $240 million tax benefit helped to offset the impact of lower revenue.   Profit in the quarter totaled $44 million, topping analysts’ forecasts. Sales fell 7% to $2.84 billion.  

Phillips Edison & Company announced the signing of three new tenants at its 117,006-sq.-ft. Coronado Center in Santa Fe.   Orangetheory makes its debut in the New Mexico capital in a 2,640-sq.-ft. space and gets a wellness accompaniment from Nutrishop, which inhabits a nearby 1,000-sq.-ft. store.   The New Bakery Company, a Santa Fe fixture for 19 years, is re-opening at Coronado Center with a renovated space and new ownership.  

Singles' Day, a festival that started in China some 20 years ago to celebrate being single, is fast approaching. And the country’s e-commerce giant is pulling out all the stops this year.   

One of the retail industry’s most environmentally-activist brands is shutting down operations for Election Day.   Patagonia will close its 30 U.S stores and headquarters in Ventura, Calif., on Election Day, Nov. 8, in an effort to encourage customers, employees and citizens to head to the polls. The company, which is giving its employees a paid holiday for the day, will also shutter its distribution and customer service center in Reno, Nevada.