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  • SHOP TALK

    Trending Stores: Adidas has opened its largest store in the world — a 45,000-sq.-ft., four-story flagship on Fifth Avenue in New York City. Sleek and ultra-modern with industrial accents, the store marks the debut of the athletic giant’s stadium retail concept, a format inspired by high school stadiums. It features high-school reminiscent bleacher stands for live-game viewing on big screens, locker room-style dressing rooms, and track and turf sections where customers can try out products.

  • Macy’s sells ground lease for Pasadena center

    Macy’s has sold a fee-simple ground lease underlying The Shops on Lake Avenue in Pasadena that is shadow-anchored by one of its active stores. The sale to a private investor from San Diego was handled by Hanley Investment Group Real Estate Advisors.   The ground lease does not include the Macy’s store, but does take in tenants including T.J.Maxx, Trader Joe’s, Ross Dress for Less, Williams-Sonoma, Talbot’s Jos. A Bank, and Orvis.  

  • Supermarket retailer launches remodeling push

    Food Lion continues to roll out its updated store design to new markets.    The chain announced a $178 million investment in its stores in the greater Greensboro, N.C., market, which includes remodeling 93 stores. The remodels,  part of Food Lion’s "Easy, Fresh and Affordable...You Can Count on Food Lion Every Day!" initiative, include a new design that is easier to navigate and shop so customers can get in and out of the store quickly, new registers and enhanced service.   

  • Specialty retailer launches IPO

    Women’s apparel retailer J.Jill is returning to the public arena after more than a decade of private ownership.   The retailer on Monday said it has launched an initial public offering of 11.67 million shares. The IPO is expected to have a price range of between $14.00 and $16.00 per share.   J.Jill has been approved to list its common stock on the New York Stock Exchange under the ticker “JILL.”  

  • Shreveport center sells for $8.95 million

    Dalton Street Properties has acquired East Side Plaza, a Michaels-anchored center in Shreveport, Louisiana for $8.95 million. Other tenants at the 78,761-sq.-ft. center include Guitar Center, Dollar Tree and Cato.   “The East Side Plaza sale was a significant win for both parties, allowing the seller to exit a non-focal market while providing the purchaser with a high-quality asset,” said Fred Victor, VP of Transwestern, who brokered the sale on behalf of the seller, Eastside Dunhill.

  • Penney announces profit—and plans to downsize store fleet

    J.C. Penney on Friday announced plans to close stores and reduce its workforce even as it reported its first profit since 2010.    In one of its deepest cuts to date, the retailer said it will close 130 to 140 stores, which represent about 13% to 14% of its total, 1,014 store base. The locations to be shuttered are unprofitable, Penney said, and generated less than 5% of total annual sales.     

  • Moody’s sees further department store 'rationalization'

    Bruised by weak fourth-quarter results, department stores are now planning more cautiously for 2017 as they re-evaluate how to compete in a rapidly changing retail environment,   

  • Analysis: J.C. Penney finally getting its house in order

    Commentary by Neil Saunders, managing director of GlobalData Retail, comments on J.C. Penney’s fourth quarter:     Although JCP ended its fiscal year with a shrink in sales, it can take some comfort from the fact that the decreases are modest and that it managed to outperform its main department store rivals.  
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