Data & Analytics

Despite the rash of recent store closings, leasing activity is strong at malls and shopping centers as retailers take advantage of favorable terms.   That’s the take of Mizuho Securities analysts following conversations with major broker organizations at the International Council of Shopping Centers RECon Show in Las Vegas last week.   

Chipotle Mexican Grill is coming clean about a cyber-attack that targeted the chain last month.   An extensive investigation lead by leading cyber security firms, law enforcement and the payment card networks revealed that malware accessed payment card data used at point-of-sale (POS) devices at certain Chipotle and Pizzeria Locale restaurants between March 24 and April 18. Not all locations were involved, and the specific timeframes vary by location, according to the chain.  

Coach has made it official.   The upscale handbag and accessories retailer launched a formal tender offer to acquire Kate Spade & Company for $18.50 per share in cash. Coach announced its plans to acquire the brand at the beginning of May, in a deal that has a total value of $2.4 billion.   

Big Lots provided an upbeat outlook and posted a strong first quarter, beating profit expectations.    The chain reported income of $51.5 million, or $1.15 per diluted share, for the quarter ended April 29, 2017, which easily beat Wall Street expectations. This compares to $38.7 million, or 79 cents a share, in the year-ago period.  

Costco Wholesale Corp. came roaring back in its third quarter as it topped analysts' earnings and sales expectations amid strong U.S. sales.   

Ulta Beauty came out of the first quarter starting gate strong, with earnings that easily topped Wall Street estimates and big increases in store and online sales.       While online sales are growing at a fast pace, the beauty products and services retailer isn't slowing down its store growth. It said it will open 100 new stores in its current fiscal year.    

Amid slumping first quarter sales, Signet Jewelers on Thursday announced the first phase of the strategic outsourcing of its in-house credit program, in partnerships with Alliance Data and Progressive Leasing, a subsidiary of Aaron's.  

As many mall-based specialty retailers continue to struggle, off-pricers continue to flourish and expand. And Burlington Stores is no exception.   Burlington's net income in the quarter, ended April 29, increased to $52.4 million, or $.73 per diluted share, which beat Wall Street expectations of 70 cents. In the year-ago period, the retailer reported net income of $37.5 million.