Apparel

Decron Properties’ sale of a Target-anchored center in Las Vegas was its sixth disposition of an office or retail asset in the last two years as it continues to focus on multi-family housing projects.   The $17.5 million sale of the Flamingo Maryland center near the Las Vegas Strip added to a bank of $300 million in proceeds realized from the deals that the Los Angeles based company put toward the purchase of seven multifamily communities in California.  

Changing consumer needs and an evolving retail marketplace contributed the U.S. apparel industry’s overall sales performance in 2016.   Specifically, apparel dollar sales across women, men, and children grew by 3% last year, reaching $218.7 billion, according to the NPD Group.   

A Nordstrom-owned retailer that offers personalized styling services for men and women has made its Boston debut.   Trunk Club has opened an 18,000-sq.-ft. Clubhouse location on Boylston Street. The store carries ready-to-wear for men and women, along with men's custom clothing.  

CBL has sold Cobblestone Village, ad 96,891-sq.-ft. center in Palm Coast, Florida, to RCG Ventures, a privately funded real estate investment group. The selling price was not disclosed.   The Belk-anchored center is a quarter-mile from the Interstate 95 interchange and is adjacent to Lowe’s and Walmart. It was “highly sought after by a variety of institutional and private investors,” said John Crossman, president of Crossman & Company, which handled the sale on behalf of CBL.  

Another online retailer has made the jump to the physical space.   Brilliant Earth announced plans to open three new locations, in San Diego, California; Washington, D.C.; and Denver, during the spring and summer. The new showrooms will join the retailer’s five other existing locations in San Francisco, Los Angeles, Boston and Chicago.  

Ross Stores continues to maintain an aggressive store expansion strategy.   The retailer recently opened 23 Ross Dress for Less stores and five dd's Discounts stores across 15 different states in February and March. The new locations are part of the company's plans to add approximately 70 Ross stores and 20 dd's locations during 2017.  

Four retailers and one fast-casual restaurant chain will be honored with Chain Store Age’s annual Breakout Retailer Awards at SPECS/2017. The awards, sponsored by Paint Folks, recognizes innovative retail and restaurant brands that have crossed the “newbie” line and are well positioned for growth in the coming years.  

Pandora UK is embarking on a new strategy to engage with shoppers post-purchase.   The jewelry retailer is partnering with Ecrebo to provide shoppers with digital receipts that are emailed to shoppers following their in-store transaction. When the receipt arrives in their inbox, shoppers have the option to opt-in to receive regular newsletters, and share feedback about their in-store experience.   

Saks Fifth Avenue is adding to its store fleet up north.   On Thursday, March 9, Saks Fifth Avenue Off 5th will open two new locations in the greater Toronto area,      “This month marks our one year anniversary of entering the Canadian market, and we’re excited to continue our Canadian expansion with two new stores in the GTA,” said Jonathan Greller, president, Saks Off 5th and Gilt.   

Wet Seal was acquired at a bankruptcy auction by a firm that plans to rebuild the brand.    Gordon Brothers announced it is acquiring the Wet Seal brand and its related intellectual property. The transaction is pending final court approval.   The acquisition includes the other brands within the Wet Seal portfolio, including Arden B, Blink, Chic Boutique and several others.