Consumer Electronics

It’s not exactly a rebranding as much as it is a clarification.   Apple is changing the way it brands its stores by getting rid of the "Store" part of Apple Store, The Verge reported.   Going forward, the company's stores will go by "Apple," followed by the individual location of each particular store, such as Apple Union Square, The Verge reported.  

Back to school sales appear to be rebounding this year after experiencing sluggish growth over the past three years (2013-2015).   That’s according to First Data’s Back-to-school SpendTrend report, which is based on aggregate same store sales activity in the First Data point-of-sale network.   Some of the most significant findings include:  

Payless ShoeSource and Marshalls will be opening their doors in the coming week in the Butler North power center of Butler Enterprises’ 267-acre retail park in Gainesville, Florida. Walmart Supercenter, Sam’s Club, Lowe’s, and Dick’s Sporting Goods made their debuts there earlier this year.   

Apple has opened its 10th store in New York City, inside the shopping area at the new World Trade Center Transportation hub in lower Manhattan.   The store draws inspiration from the surrounding structure, which was designed by Santiago Calatrava, to create a seamless space. The interior design is fairly standard for Apple, with the exception of a huge video wall and seating area.   

In what it says is part of an expansion into the western United States, New York-based Time Equities Inc. (TEI) purchased the Newgate Mall in Ogden, Utah from General Growth Properties for $69.5 million.   The 718,035-sq.-ft. mall is anchored by Burlington Coat Factory, Cinemark, Dillard’s, and Sears. TEI reports it is 98% leased with approximately 100 tenants. Bath & Body Works, Kay Jewelers, Gymboree, and Victoria’s Secret are among those on the roster.  

Skechers continues to expand its global footprint.   The brand on Tuesday opened a flagship store in the shopping center at the new World Trade Center in lower Manhattan. With some 1,545 stores worldwide, Skechers anticipates having more than 1,600 locations up and running by yearend.  

Shoppers are opening their pocketbooks for back-to-school spending this year.   Parents expect to spend an average of $1,642 on back-to-school expenses this year, up significantly from $1,239 in 2015, according to the American Express Spending & Saving Tracker report.   Parents are expected to spend more on musical instruments this ($267 vs. $194 in 2015), along with mobile devices ($172 vs. $125 in 2015).