Jewelry

Current retail thinking that the high and the low ends are driving the industry has gotten a boost from CBRE Group.   High street rents are off the charts worldwide, according to company’s just-released Global Retail Rents report. Rents in prime shopping locations during the second quarter were up 30% in Rome, 24%, 20% in Milan, and 14% in Sydney and New York.  

Spence Diamonds is dropping anchor in the United States with an innovative store concept and unique product offering.    The diamond retailer will open a store in Austin, Texas, on Nov. 7, followed by a location in San Jose, Calif., on Nov. 10. A store in Scottsdale, Arizona is planned for first quarter 2017, with additional markets to be announced soon.  

American consumers will generate an accelerating 4.1% year-over-year increase in 2016 holiday sales, well exceeding 2015’s tepid 3.6% growth.  

Until this week, Rouse Properties’ northeastern-most retail possession was The Centre at Salisbury in Maryland. But its purchase this week of an 115,000-sq.-ft. center outside of Hartford, Connecticut, gives the developer a footprint planted firmly in New England.  

Thinking about setting up shop between 49th and 60th Streets on Manhattan’s Fifth Avenue? Better be prepared to pay big bucks.   The upper part of Fifth Avenue is the most expensive retail street in the world (based on rental value), with rents rising to a whopping $3,500 per square foot in 2015, according to the 27th edition of Cushman & Wakefield’s report, Main Streets Across The World.  

There is a new finance chief at Claire’s Stores.    The retailer has appointed Scott Huckins as its executive VP and CFO, effective Oct. 5. He joins Claire's from Sears Holdings where he served as VP, treasurer and president for Sears Re, (a wholly owned captive reinsurance company) for the last four years. In that role, he had responsibility for global treasury, capital markets, credit, risk management and reinsurance for the company.    

Signet Jewelers Limited has closed its previously announced investment from Leonard Green & Partners.   The private equity firm invested $625 million in the form of convertible preferred shares. The Signet board, as previously disclosed, increased its authorized share buyback program by $625 million on August 25, 2016, in connection with the transaction.  

What Trademark did north of Houston with Market Street Woodlands (above) it intends to do in West Houston with an 82-acre mixed-use town center at the junction of I-10 and Mason Road.   “We believe this site is the next great opportunity in the country to develop a premier regional, mixed-use town center,” said Terry Montesi, CEO, Trademark Property Co. “There is a tremendous retail void in West Houston.”  

Simon Properties has announced the impending arrivals of Cartier and Hermes at its Stanford Shopping Center in Palo Alto, California. This marks Hermes’ first new U.S. store in five years, according to Simon.   The 6,000-sq.-ft. Hermes shop, which will reside near Neiman Marcus in the center of the newly updated center, is scheduled to open in late 2017 or early 2018. Its focus will be on men's, women's, home, and equestrian collections.   

A “Rally at the Rack” party is planned for Oct. 6 in downtown New Orleans for the opening of Nordstrom Rack’s store at The Outlet Collection at Riverwalk.   Nordstrom Rack will anchor the south side of the center, which owner Howard Hughes Corporation bills as the nation’s first downtown outlet location. Among the 75-or-so retail brands already doing business there are Guess Factory Store, Kay Jewelers Outlet, Neiman Marcus Last Call Studio, Reebok Outlet Store, and Wilson’s Leather.