Department Store

Neptune/6th, a redevelopment of the former site of Trump Village Shopping Center and the Royal Palace Baths in Brooklyn’s Coney Island section, has secured leases from CVS and Apple Bank as it looks toward a summer 2017 opening of its first phase. Cammeby’s is the developer.   That phase will include 161,000 sq. ft. of retail, office, and parking in a standalone space across from the old Trump Village site. Three further phases will add 165,000 sq. ft. of retail and parking and a 575-unit residential tower.  

Shoppers at select Calvin Klein stores may soon be able to charge their phones while also watching some promotional content.    The specialty apparel retailer is installing complementary in-store phone charging kiosks in approximately nine stores across the United States and Canada, including New York City and Las Vegas. The kiosks, from Veloxity, will be in place just in time for Black Friday.   

The president of Office Depot’s North American operations is stepping down.   Marc Crosby is leaving the company “to pursue other opportunities,” according to the Sun Sentinel, which cited a filing with the Securities and Exchange Commission. No date was given for his departure.  

The first phase of Fairfield Town Center in northwest Houston is nearing completion and should be fully operational by Black Friday, promises owner Washington Prime Group, formerly WP Glimcher.   Already open and operating at the 600,000-sq.-ft. development are HEB, Academy Sports + Outdoors, Chick-fil-A, and McDonalds, among several others. The fully populated center will include Marshalls/Homegoods, Ulta, Chipotle, and Dress Barn.  

The U.S. shopper’s love affair with the off-price channel shows no signs of winding down any time soon.       Ross Stores easily beat analysts’ expectations as its earnings increased 13% in the quarter ended Oct. 29, amid better-than-expected revenue growth and stronger margins.   

Target Corp. is bullish on its smaller store concept.   Company CEO Brian Cornell he is “increasingly confident’ the retailer will open “hundreds of “small-format stores, USA Today reported.   We think we have the opportunity to enter many, many new neighborhoods," Cornell said on a conference call.  

As shoppers use more devices to shop their favorite brands, it is not surprising that digital shopping will drive retail holiday sales.   This message was delivered in Nielsen's 2016 holiday trend report, which tapped 1,159 adults aged 18 years and older. As of Nov. 11, online shopping was outpacing in-store visits, with 58% of shoppers already purchasing their holiday gifts online compared to 40% that went to big-box retail stores, and 25% who visited department stores.  

A majority of shoppers, 81%, intend to do most of their spending in physical stores during the Thanksgiving holiday weekend (Nov. 24-27). This total increases to 95% when you include consumers who will shop at those same physical retailers’ online channels (omnichannel retailers).   These are among the findings of the “2016 Black Friday Consumer Survey” from International Council of Shopping Centers (ICSC).