Consumer Electronics

By Ryan Condren, CPEX Real Estate

Open-air centers go far beyond shopping

Digital payment gains slow, steady traction

Miami Gardens, Fla. -- Palmetto Park has broken ground on the inline space at Palmetto Gardens Plaza, a 63,000-sq.-ft. shopping center located at 3799 NW 167th St. in Miami Gardens, Florida. Anchor tenant Wal-Mart Neighborhood Store was recently completed and is now open.  

Putting aside all the challenges at Staples – weak demand, activist investor pressure to change its board and an uphill battle to acquire its largest competitor – one aspect of the company’s business is encouraging.

Although the company’s results for the fourth quarter were not good on either an as reported or adjusted basis, the commercial division achieve respectable sales growth and in the fourth quarter was the most profitable of Staples three business segments.

The store is back, baby! That was the message I heard again and again at the National Retail Federation’s 2015 Annual Convention in New York City. It was sounded by retailers, consultants and tech suppliers alike as they rushed to explain the relevance of offline retail in an omnichannel world.

But the truth is the store never went away in the first place. Sure, some retailers are retrenching and reducing (or, in today’s PC lingo, “rightsizing”) their portfolios. It’s especially evident in the apparel sector, with some teen brands particularly hard hit.

Meriden, Conn. -- Vestis Retail Group, which operates Bob’s Stores, Eastern Mountain Sports and Sport Chalet, has Susan J. “Sue” Riley to CFO.

Riley brings 30 years of financial management to her new role at Vestis, where she worked on a consulting basis as interim CFO in recent months.

The labor dispute at the West Coast ports and harsh winter weather are among the reasons Conn's reported a drop in same store sales for February.

Conn's said same store sales dropped 5.8% in February, compared to a 14.9% increase in the prior-year period.