Retail

Philadelphia — Pennsylvania Real Estate Investment Trust has executed leases with Retail Group of America to bring three international brands F&F, Flormar and SuiteBlanco to the Patrick Henry Mall in Newport News, Virginia. The transactions illustrate PREIT’s strategy for improving portfolio performance by seeking out emerging, first-to-market options.

▲Construction and construction costs are not an exact science: Information derived from data may be predicable; people are not.

▲ The process takes time: Construction encompasses more that just the time it takes to physically build a store. It also involves the lease-negotiating phase, drawing phases, permit phase and bidding phase.

▲ Smaller spaces don’t always translate into big cost reductions: It’s often assumed that as store square footage gets smaller, the overall costs go down.

Starting with a washer and dryer, Whirlpool products will be getting smarter with the help of Nest’s learning thermostat. The appliance company plans to integrate some of its products with Nest’s thermostat.

By Adam Blake, VP and General Manager, Department and Specialty Retail, NCR

▲ Understand the assets covered by your leases: Taken together, leases are more than just one of a chain’s largest costs — they are the largest fixed expense, and they are fixed for the long term. As a rule, individual leases average seven to 10 years.

“Understanding that is critical,” said Michael P. Glimcher, chairman and CEO, Glimcher Realty Trust, Columbus, Ohio.

Duluth, Minn. – Specialty young women’s apparel store Maurices plans to open 15 new stores, including seven grand openings and eight reopenings, through the middle of July. The new stores include:

Grand Openings:
June 27: Lufkin, Texas at Lufkin Mall and Greensburg, Indiana, at Greensburg Crossing.
July 4: Aurora, Colorado, at The Gardens on Havana.
July 5: Hoffman Estates, Illinois, at Poplar Creek Crossing.

Oakley, a wholly owned subsidiary of Luxottica Group, the world’s largest eyewear company, is looking to take its performance-driven, namesake brand to the next level. On the heels of its first global marketing initiative, the company has opened a state-of-the-art flagship on Fifth Avenue in Manhattan.

Ann Arbor, Mich. - Domino's Pizza is partnering with gamification provider Quikly to give one customer free pizza for a year. Consumers can register for the Fan Perks giveaway beginning June 24, and participate in the giveaway that will take place at a time designed to surprise Domino's customers.