eCommerce

Pacific Sunwear of California has hired financial advisors to help deal with its maturing debt, according to The Wall Street Journal.

In 2011, PacSun received a $100 million credit line from Wells Fargo and a $60 million loan from an affiliate of Golden Gate Capital. Both loans will be due in December, the report said.

Similar to other teen retailers, PacSun has been dealing with increased online competition and a shift in teen spending. The company has had three consecutive quarters of declining sales and negative same-store sales.

While online subscription box retailing is still a niche market, it is growing rapidly and consumers have selected their early favorites.

Kansas City -- Taubman Centers and The Macerich Company announced a joint venture for Country Club Plaza location in Kansas City, Missouri from Highwoods Properties. The mixed-use retail and office property was purchased for $660 million cash, excluding transaction costs. Taubman and Macerich each own a 50% interest in the center.

As discussed last week custom facades as advertisements have migrated from the domain of premiere retail flagships to many, varied uses across the commercial and retail spectrum.

This trend was earlier spotted by Gensler On: Lifestyle as part of its “Top Ten Retail Trends in 2013.”

As part of a leveling of its technology spending, Nordstrom Inc. has made a reduction in its technology personnel.

According to Geekwire, Nordstrom recently laid off 10 employees in its technology department.

Chicago -- CBRE recently completed the sale of two retail centers in the Chicago, Illinois suburbs for $14.8 million.

Regency Square, a 43,361 sq. ft. center, located in Huntley, Illinois is 97% leased. The center is anchored by Aldi and includes tenants Athletico, Jimmy John’s, Little Caesar’s and SportClips. CBRE represented the seller, Interstate Partners. Regency Square sold for $10.8 million. CBRE’s Derrick Almassy and Rich Frolik represented Interstate Partners in the sale to Hamilton Partners.

Columbus, Ohio -- CASTO, The Daimler Group and The New Albany Company announced a joint venture to develop a large scale, mixed-use property, comprising 320 acres located in Columbus, Ohio at State Route 161 and Hamilton Road interchange.

Hamilton Quarter when completed will include over 700,000 sq. ft. of office space, 1 million sq. ft. of retail, restaurant, and entertainment space, up to 800 multi-family units, and 130 senior living units, as well as hospitality and other destination oriented venues.

Fort Lee, N.J. -- Tucker Development announced long-term leases for first phase of Hudson Lights in Fort Lee, New Jersey. CycleBar, Linwood Wine & Liquor and SeeSaw will join the roster of tenants already signed to nearly 75% leased, 1 million sq. ft. development, anchored by iPic Theaters. The first-phase of the project will comprise approximately 140,000 sq. ft. of retail and 276 luxury apartments.

Direct store delivery (DSD), which involves shipping products directly to stores from suppliers and bypassing the retailer’s warehouse or fulfillment center, is not a new idea.

However, several industry developments have made DSD a more attractive and feasible option in many instances. Here are three reasons for a retailer to consider launching a DSD program.

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William (Bill) Quinn has joined Hibbett Sports Inc. as VP of digital commerce.

Prior to joining Hibbett, Quinn served as VP, digital, for David’s Bridal, where his efforts included growing online sales, launching omnichannel initiatives, and building mobile capabilities.

Quinn will be responsible for leading the implementation of Hibbett’s omnichannel initiatives and developing the online customer experience. He will report directly to president and CEO Jeff Rosenthal.