Mass Merchant

When it comes to retail rents, Manhattan’s Fifth Avenue is really in a class by itself. 

Upper  Fifth Avenue, between 49th and 60th streets,  is the most expensive retail corridor in the world, with rents rising 3.6% to $3,500 per sq. ft. through the first half of this year, according to a annual report from Cushman & Wakefield. (The top 10 streets are listed at end of article.)

Fifth Avenue rent was nearly double that of the second priciest corridor, Causeway Bay in Hong Kong, at $2,399 per sq. ft.

Marketing and merchandising changes at Target Corp. are paying off as the retailer reported better than expected traffic and sales in the third quarter.

For the quarter ended Nov. 1, Target reported a same-store sales increase of 1.9%. Net sales rose 2.1% to 17.6 billion.

Profit rose to $549 million, or 87 cents per share, up from $352 million, or 55 cents per share in the year-ago period. Not including one-time items, the company earned 86 cents per share, which was in line with Wall Street expectations.

How busy is Times Square? Enough to support two Modell’s Sporting Goods stores.

The retailer is opening two new stores in the New York City metro area, including one at 136 West 42nd Street, its second Times Square location. Modell’s is also opening a store at Crossroads Plaza East in Rocky Point, New York.

The two new locations will expand the retailer’s portfolio to 155 stores in 10 states.

Judging from the latest 2015 Temkin Loyalty Index, which measures consumer loyalty to large companies, shoppers are maniacal when it comes to their favorite grocery stores.

Based on a study of 10,000 U.S consumers, H-E-B, Publix and Trader Joe's were at the top of the list when it comes to consumer loyalty, bookended on either side by credit card and insurance company USAA.

Aldi and Hy-Vee also made the top 10 list of companies to which consumers are most loyal.

Ollie's Bargain Outlet Holdings Inc. is looking to a Sports Authority executive to fill the newly created position of senior VP of finance and chief accounting officer.

The company has named Jay Stasz to the position, which will report to John Swygert, Ollie's executive VP and CFO.

Despite weak overall sales growth and an expected decline in third quarter profits, Walmart’s third quarter results offered reasons for the company to be optimistic and for competitors to be concerned.

(The following is an excerpt from the new book, Extraordinary Experiences: What Great Retail and Restaurant Brands Do, by Denise Lee Yohn.)

Scott McClelland seems an unlikely candidate for his picture to appear under a "Why Is This Man Smiling?" headline. As spokesperson and president of the Houston food/drug division of Texas-based grocery store chain H-E-B, McClelland has plenty of reasons to be worried.

It’s been 10 years since Walmart launched its sustainability agenda, and on Tuesday, the discounter detailed the progress it has made to date.

In two important milestones, Walmart said it has achieved its goals of reducing 20 million metric tons of greenhouse gas (GHG) emissions from its global supply chain, and doubling its fleet efficiency. It also expanded an existing commitment to preserve wildlife habitat.