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Department Store

  • Store closings are part of the business, but is this business as usual?

    2017 is just two months old, but we have already experienced what feels like a year’s worth of major store closing and liquidation announcements from national brands. This spike in store closings seems to have rattled retail industry professionals, and has gotten retail analysts and observers talking about big shifts – and thinking not only about what comes next, but how painful the transition might be in the meantime.  

  • Shreveport center sells for $8.95 million

    Dalton Street Properties has acquired East Side Plaza, a Michaels-anchored center in Shreveport, Louisiana for $8.95 million. Other tenants at the 78,761-sq.-ft. center include Guitar Center, Dollar Tree and Cato.   “The East Side Plaza sale was a significant win for both parties, allowing the seller to exit a non-focal market while providing the purchaser with a high-quality asset,” said Fred Victor, VP of Transwestern, who brokered the sale on behalf of the seller, Eastside Dunhill.

  • Anthropologie, London and Leeds

  • Analysis: J.C. Penney finally getting its house in order

    Commentary by Neil Saunders, managing director of GlobalData Retail, comments on J.C. Penney’s fourth quarter:     Although JCP ended its fiscal year with a shrink in sales, it can take some comfort from the fact that the decreases are modest and that it managed to outperform its main department store rivals.  

  • Kohl’s Q4 profits fall, but beat forecasts

    Despite strong online volume, low store traffic translated into weak fourth quarter sales for Kohl’s.   For the quarter ended January 28, 2017, the department store chain’s profits fell 15% to $252 million, or $1.44 per share, from $296 million for the same period last year. Meanwhile, revenue dropped 2.8% to $6.21 billion, from $6.39 billion in 2015. Yet, the company still exceeded analysts’ expectations of revenue hitting $6.2 billion, or $1.32 per share.  

  • NYC gets its third Saks Fifth Avenue store — with a twist

    Saks Fifth Avenue is giving New York City a new “boy’s club.”    The chain’s first-ever Saks Downtown Men’s store is a stand-alone 16,000-sq.-ft. location dedicated to men’s categories. Featuring a strong focus on modern fashion, it carries more than 100 brands, including a dominant assortment of designer footwear and accessories.    Located at 250 Vesey Street in lower Manhattan, the store also features an “experiential shopping environment.” 

  • Improving Gap delivers good news

    A jolly holiday season helped Gap Inc. post fourth-quarter earnings and sales that beat expectations, leading to speculation that the chain’s turnaround may be starting to take hold.    The nation’s largest apparel retailer reported net income of $220.0 million, or 55 cents per share, up from $214.0 million, or 53 cents per share, last year.   Sales totaled $4.43 billion, up from $4.39 billion and ahead of the $4.41 billion analysts had expected.   

  • Rubin steps down as chairman of PREIT

    Ron Rubin resigned his post as chairman of the board of PREIT and will be succeeded in that role by CEO Joseph Coradino. His departure was expected, having been announced last month.  
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