Mass Merchant

Not so fast - court issues time out on new overtime rule
The National Retail Federation welcomed a judge’s ruling late Tuesday that will prevent the Labor Department’s changes to federal overtime rules from taking effect as scheduled on Dec. 1. U.S. District Judge Amos Mazzant issued a preliminary injunction in a lawsuit brought by NRF, attorneys general from 21 states and dozens of business groups arguing that the changes are unlawful. The ruling effectively pauses implementation of the rules until the courts reach a final decision on their legality.

2017: The year when retailers smash their cookie cutters?

Retail real estate professionals and retailers have a symbiotic relationship when it comes to creating great shopping centers and memorable destinations. The former can develop, lease, and broker spaces in great projects in compelling locations, but a retail or mixed-use project is ultimately defined by its tenants: the better the retailers, the better the project.

Iowa center sells for $5.5 million

Quincy Plaza in Ottumwa, Iowa, was purchased by Beaumont, Texas-based Albanese Cormier Holdings for $5.5 million. Mid-America Real Estate brokered the deal on behalf of a fund managed by Cincinnati-based Phillips Edison. The 137,389-sq.-ft center is anchored by Kmart, Hobby Lobby, and Rent-A-Center in the southern Iowa retail hub on the Des Moines River. Quincy Plaza is located across the roadway from Target and the Quincy Place Mall.
Report: Amazon’s price advantage narrows in key holiday category

Watch out Amazon, Walmart may be giving you a run for the money in the holiday toy aisles.
Slump continues at J. Crew

J. Crew Group narrowed its loss in the third quarter even as its two-year sales slump continued amid a “difficult traffic environment.” The retailer posted a net loss of $7.9 million in the quarter ended Oct. 29, compared to a loss of $759.7 million in the year-ago period. (J. Crew booked $845.9 million in impairment losses in the year-earlier period.) Total revenue decreased 4. 2% to $593.2 million. Same-store sales fell almost 8%.
CSA Exclusive: America’s Top 10 Redevelopers

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.) Vestar claimed the #2 spot, with 1,930,000 sq. ft. developed, followed by Westfield, with 1, 743 sq. ft.
Lubbock super-regional mall introduces improvements

The South Plains Mall in Lubbock, a dominant retail center in the Texas Panhandle for 40 years, this week unveils a series of updates for customers. The Macerich-owned mall has redesigned all three of its entrances, added new flooring and lighting throughout the building, and introduced amenities including center-wide Wi-Fi, charging stations, soft seating, and new restrooms.
Barnes & Noble puts the blame on election

Cost cuts help improve Barnes & Noble’s profitability in the third quarter even as its sales continued to decline. “While we are pleased to have improved our performance due to expense reductions, we did experience sluggish sales, which we believe are directly related to the election cycle,” said Len Riggio, chairman and CEO of Barnes & Noble. "With the election behind us, we hope and expect sales will improve over the holidays."
Black Friday and Beyond: Consumer Habits are Changing Fast and Stores Need to Evolve

In October of this year, Periscope By McKinsey conducted online research of more than 1,000 consumers in the U.S. to understand their attitudes towards Black Friday and expected shopping patterns.
Beauty retailer outperforming all others in social media run up to Black Friday

With the Black Friday weekend nearly here, there are clear winners when it comes to social media engagement. At the head of the class is Sephora, with 2.4 million consumer interactions (reactions, comments, shares, retweets, favorites) across Facebook, Twitter and Instagram. Sephora’s top status is being driven by its success on Instagram, a site that reveals high consumer enthusiasm for the retailer’s offerings of makeup box sets and key brands, such as Bite Beauty and Urban Decay, as well as its own collection.