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eCommerce

  • Report: U.S. mall vacancy rate at 9.4%

    New York City -- Vacancies at U.S. regional shopping malls rose to 9.4% in the third quarter (ended Sept. 30), according to property-research firm Reis, Reuters reported. It represents the highest level since Reis began publishing the data in 2000, and was up from 9.3% in the second quarter.

    Landlords' asking mall rents rose to $38.81 per square foot in the third quarter, up from $38.77 in the previous three months and $38.72 a year earlier, according to Reis.

  • ComScore: Smartphones and tablets driving digital traffic

    Reston, Va. -- Mobile phones drive digital traffic around the world, but tablets are gaining steam, according to a new report released by ComScore. The report, “Digital Omnivores: How Tablets, Smartphones and Connected Devices are Changing U.S. Digital Media Consumption Habits,” found that smartphones and tablets are driving nearly 7% of total U.S. digital traffic.

    Key findings highlighted in the report include:

  • Remembering Jack Buley

    On March 22, 2011, Canadian retailer tb!s The Bargain Shop named top American retail executive Beryl “Jack” Buley as its new president and CEO.  A week later, on March 29, I sat down with Buley to discuss his new position for our then-upcoming June/July issue.  Eight weeks later, he was dead.

  • Save-A-Lot to anchor Cleveland redevelopment

    Cleveland -- CenterMark Development LLC announced that Save-A-Lot Food Stores, along with the Ohio debut of discount apparel retailer Forman Mills, will anchor The Shops at Garrett Square. The 65,000-sq.-ft. project is the first phase of a neighborhood revitalization plan envisioned by city officials seven years ago, and plans call for subsequent development of up to two more retail outlots targeting much‐needed retail uses.

  • Two new retail leases signed for Diablo Plaza

    San Ramon, Calif. -- Jacksonville, Fla.-based Regency Centers said that two new tenants have leased space at Diablo Plaza, located in San Ramon, Calif.

    Beverages & more! leased 12,015 sq. ft. and is slated to open this fall. Another new addition, West Coast Gold Buyers, leased 1,300 sq. ft. and is now open.

    The 63,265-sq.-ft. center includes national retailers such as Safeway, CVS/pharmacy, Verizon Wireless and McDonald’s.

  • TIAA-CREF and CBL close $1.09-billion JV

    Chattanooga, Tenn. -- TIAA-CREF and CBL & Associates Properties have announced the closing of their $1.09 billion real estate joint venture to invest in market-dominant shopping malls.

    TIAA-CREF has completed its investment in four of CBL’s market-dominant shopping malls: Oak Park Mall in Kansas City, Kan.; West County Center in St. Louis; CoolSprings Galleria in Nashville; and Pearland Town Center in Pearland, Texas.

  • Accenture forecasts ‘careful’ and ‘controlled’ holiday spending

    New York City -- An overwhelming majority (72%) of U.S. consumers expect their holiday spending to be “careful” or “controlled” in 2011, according to Accenture’s annual consumer holiday shopping study. Discounts, sales and prices are still top of mind this holiday, with 40% of consumers saying an item being on sale is the single most important factor in their decision to purchase.

  • HSN takes QR to TV

    ST. PETERSBURG, Fla. — HSN is bringing Quick Response (QR) codes to a new shopping frontier by becoming the first retailer to use them on television.

    Through Oct. 10 as part of the company's Innovation Weekend event, HSN will debut QR codes on its HD channel, which currently reaches approximately 43 million households. Customers will be able to scan the QR code of hundreds of products, the company said, giving them access the product information page on their mobile device, learn more about the product and purchase with ease.

  • DDR and Walmart team to open, expand four stores

    Beachwood, Ohio -- DDR Corp. announced Friday plans to redevelop four shopping centers by adding two new Walmart stores in Florida and expanding two existing stores in Ohio and Puerto Rico.

    "These projects will deliver desired growth opportunities to the world's most successful retailer and further strengthen DDR's relationship with its largest tenant," said Paul Freddo, senior executive VP leasing & development for DDR.

  • Designer Jean-Michel Cazabat opens first U.S. retail store

    New York City -- Footwear designer Jean-Michel Cazabat said he will open his first U.S. store on Oct. 8 in New York City's West Village.

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