Sales & Marketing

Though it forecasts a stronger-than-anticipated closure season, Cushman & Wakefield sees average retail rents ending the year 4.6% higher than they were in 2016.   The company’s U.S. Macro Forecast released this week said that consistent demand for space in Class A retail centers is the biggest factor in rental-rate growth. Cushman analysts also predict that 2016 will see a drop in the retail vacancy rate to 5.8% from 6.6% last year — though they see it moving back up to 6% in 2017.  

Lowe’s Foods rang in retail this week at Morganton Park South in Southern Pines, North Carolina, opening a 50,000-sq.-ft. anchor store in the center that is part of the 188-acre Morganton Park master-planned community.   Lowe’s, which recently executed a re-branding, is a fixture in North Carolina, where it has done business since 1954. Its neighbors in the center are still to be determined. Leasing agent Lincoln Harris reports that most of the 21,000 remaining square feet in the center remains available.  

Inland Private Capital Corp. announced the sale of a Mariano’s Fresh Market in Vernon Hills, Illinois, on behalf of one of its 1,000-plus investment programs. Sale price for the seven-acre property and 71,248-sq.-ft. store was $36.4 million.   Mariano’s, a Kroger banner, is Chicagoland’s up-and-coming fresh grocer with some 35 locations in the area. Roundy’s had owned the chain and held the lease at the Vernon Hills location until it was acquired by Kroger last November.  

Chico’s FAS reported better-than-expected second quarter earnings and announced new cost-saving measures. It also said the president of its namesake brand is stepping down.  

In a deal that comes right before the all-important holiday selling season, Toys “R” Us has entered into an exclusive partnership with one of the toy industry’s premier doll brands.     Mattel’s American Girl division announced a multi-year partnership with Toys “R” Us that will make the toy giant the first — and only — U.S.-based retailer to feature American Girl in-store shops.   

With an eye on personalization and engagement, Nordstrom revamped its Nordstrom Rewards program -- a move that has earned the chain 1.7 million new members since its launch in May.   "We heard from our customers that they wanted a more personalized and flexible loyalty program," said Chris Holloway, VP of loyalty, Nordstrom.  

Photo: Paul Pressler   The CEO of David's Bridal is out after three years on the job.    The specialty retailer said Pam Wallack has left the company, but gave no reason for her departure, the Associated Press reported. Wallack will be replaced by David’s Bridal chairman and former Gap Inc. head Paul Pressler, who once worked with her at Gap.          

Amazon continues its expansion into the restaurant delivery arena.   Further expanding benefits to its Prime Now members, Amazon launched free one-hour deliveries from popular chain restaurants in the Houston region.   Houston-based members using the Prime Now mobile app, or those visiting the Prime Now website, can view participating restaurants, browse menus, place orders, and track the status of their delivery in real-time.