Development/Redevelopment

Macy’s Inc. on Thursday posted second quarter results that topped analysts’ expectations. But with a steep drop in profit and sales still on the decline, the department giant said it will close 100 stores. It also gave an update on its real estate strategy.   

Flying Tiger Copenhagen is expanding its footprint in the United States.   Known for its quirky, fun and ever-changing assortment of Danish-designed goods, the discounter is set to open on New York City's Upper West Side on Aug. 13. The 2,000-sq.-ft. store will be the brand's fourth location in the New York area.    

Bayer Properties’ plan for drawing shoppers to its new $156 million mixed-use development in Lexington, Kentucky, could be one that catches on in other rural regions: Recruit retail tenants that are not new to the universe, but new to the state.   So when it opens next spring, the retail roster at The Summit at Fritz Farm will include Bonobos, Cos Bar, Shake Shack, J. McLaughlin, Brooks Brothers, and — just signed this week — Marine Layer.  

Andrews Square in the Buckhead section of Atlanta is being infused with local flavor.    Signed as the new anchor at the center in the affluent neighborhood’s West Village section is Lucy’s Market, a purveyor of organics, fresh produce, and prepared meals owned by West Village resident Kim Wilson.   Center owner Edens is in the midst of a makeover of Andrews Square intended to make it blend with the local landscape and culture.  

Macy’s Inc. announced that it will close 100 full-line namesake stores as part of a wider effort to improve its business and succeed in an omnichannel environment. The move comes after six straight quarters of declining same-store sales.      The department store giant said it plans to concentrate its resources on the best-performing locations, and to invest in those stores by adding new vendor shops, increasing the size and quality of staff and new technology.  

It’s official: The long-awaited Westfield World Trade Center in downtown Manhattan is finally ready to open its doors.   Likely to become of the city’s most visited retail destinations, the shopping center will celebrate its grand opening on Aug. 16. With 365,000 sq. ft. of retail space, it will feature more than 100 global and local fashion, beauty, lifestyle and technology brands.  

Restoration Hardware has few equals — and spares no expense — when it comes to creating luxurious retail destinations.     The luxury home furnishings retailer’s newest store, at The Gallery at Town Center Plaza, Leawood, Kansas, represents the latest iteration of its next-generation design galleries. The three-level, 56,000-sq.-ft. store includes an entire floor dedicated to the brand’s new concept, RH Modern, complete with an integrated RH Contemporary Art Gallery.  

When JLL took over retail leasing for 1407 Broadway, just south of Times Square in New York, it decided to break up the four existing retail pads on the ground floor into eight and emphasize food. That plan is now coming into fruition with the signing of Gregory’s Coffee, Juice Generation, Luke’s Lobster, and ‘Witchcraft as the first four tenants.  

PizzaRev, the build-your-own pizza shop that has a franchising partnership with Buffalo Wild Wings, made its first foray into New England this week with the opening of a store in CambridgeSide Galleria in Boston.   Since joining forces with Buffalo Wild Wings in 2013, the fast-casual concept has expanded to more than 200 franchise locations. Its coverage had touched nearly all regions of the U.S. except for New England.  

It’s no secret that Abercrombie & Fitch has been developing a new prototype.   The chain will unveil its new look early next year, at Polaris Fashion Place, in Columbus, Ohio. The store will herald a new direction for the brand with a new aesthetic and updated merchandise selections. It will be situated on the lower level near Madewell.     Abercrombie has already introduced a new look for its Hollister store brand.