Department Store

Clicks-to-bricks phenomenon Bonobos’ retail journey will soon extend to Manhattan’s Madison Avenue. The company has signed a 10-year lease for 1,725 sq. ft. on the ground floor of 488 Madison Avenue near St. Patrick’s Cathedral.   Neighbors of Bonobos at its new location include Saks Fifth Avenue, Tourneau, Burberry, and Nordstrom’s Trunk Club. The Feil Organization recently completed major renovations on the building, including a two-story glass curtain wall in the office lobby.  

Leasing has begun on HELM Miami, a mixed-use development destined for a full city block in Miami’s Design District, a neighborhood carved out in an under-developed area north of downtown near Biscayne Bay.   Newmark Grubb Knight Frank Retail will handle leasing, led by executive managing director Thomas Citron and executive VP Mitchell Friedel.  

Deal volume in the retail and consumer sector is up, but deal value is down.   Deal volume in the second quarter in the sector reached its highest level in the past 12 months, with 282 announced deals, up 5% over the first quarter, according PwC’s Q2 2016 retail and consumer M&A report.  

Consumers are putting their best foot forward when it comes to spending.

Everyone remembers the malls of the Eighties, where teenagers congregated and where the latest names in fashion could be found in one amazingly convenient location. This phenomenon was once relevant and innovative, but innovation is fleeting by nature. How have malls changed the ways they connect with customers make the mall experience still worth their while?   

Sears Canada is losing another top executive who has been on the job for less than a year.   The retailer announced that Carrie Kirkman is leaving her role as president and chief merchant to transition to an “advisory role.” In a statement, the company said Kirkman had been “brought aboard to focus on strategic brand partner development,” and that new brands will debut this fall. Kirkman will reportedly leave her post after July 30.  

The Retail Industry Leaders Association (RILA) has named Even Armstrong as VP of government affairs, effective Aug. 1.     Armstrong will lead advocacy efforts related to workforce and employment issues before Congress and federal agencies, including the Department of Labor (DOL), the EEOC and NLRB.