Mass Merchant

Kimco Realty Corp. takes the top spot in Chain Store Age’s 12th annual Top Redevelopers survey, with 2,669,999 sq. ft. redeveloped. Kimco’s redevelopment reach in 2015-2016 spanned 19 states and Canada, as the company touched 39 projects in all. (The survey analyzed redevelopment work from mid-year to mid-year in the 12-month period from June 2015 to June 2016.)

It’s a rough time for many teen apparel retailers and the holiday season may not bring much relief.   American Eagle Outfitters Inc. on Wednesday issued a weaker than expected forecast for the fourth quarter as its CEO cited a “tough” retail environment. Its warnings issues similar statements from the likes of Abercrombie & Fitch and Gap.    

After Neiman Marcus announced it would open its first New York store at Hudson Yards — the biggest development in that town in recent history — retail leases are being signed at a torrid pace.   According to developer Related Urban, The Shops & Restaurants at Hudson Yards are 60% leased more than two years before their scheduled opening in fall 2018.  

Move over Cyber Monday, Cyber Week is the new buzz term.    Cyber Week, comprised of Thanksgiving Eve, Nov. 23 through Cyber Monday, Nov. 28, is attracting more shoppers as they “grow more and more comfortable shopping on their phones and tablets, opening up the timetable for brands to reach them during the holiday shopping season," said Tony Zito, CEO, Rakuten Marketing.  

Cyber Monday has made history — again.   With shoppers spending $3.45 billion online on Cyber Monday, Nov. 28, a 12.1% jump year-over-year, sales not only surpassed predictions, but made this the largest Cyber Monday shopping event to date, according to Adobe Digital Insights, which aggregated data from 23 billion visits to retail websites.  

When it comes to customer satisfaction surveys, a convenience store is at the top of the class.    That’s according to a study by Interaction Metrics which finds that retailers are wasting customers’ time — and their own — by conducting critically flawed satisfaction surveys.  

A lawsuit dating back to 2008 has ended in a federal jury handing down a $55 million verdict against Walmart, and opening up the retailer to penalties.   The jury found that Walmart failed to pay about 850 of its truck drivers in California all of the compensation to which they were entitled, Reuters reported.   

  The Fung Global Retail & Technology team visited 35 stores throughout the Greater New York City area and Las Vegas on Black Friday for a first-hand view on traffic and sales.  Here are their top five takeaways from their store visits:  Cyber Monday Starts Early for Walmart:  Walmart kicked off its Cyber Monday deals at 12:01am EST on Friday for the first time ever, as it aims to grab customers ahead of its competitors. Last year, the company posted its Cyber Monday deals on the Sunday evening following Thanksgiving.