News

Toys ‘R’ Us continues to narrow loss
Things are looking up for Toys “R” Us. The nation’s largest specialty toy retailer posted a 20% increase in operating profit and reduced its net loss for the second-quarter amid reduced costs, including the expense of running its now-shuttered Times Square flagship. In addition, the retailer announced it successfully reached an agreement to refinance all of its 2017 notes and a portion of its 2018 maturities.
Real estate companies rise on sustainability index
North American real estate owners and developers ratcheted up their green profiles markedly this year, though they still lag global trendsetters, according to the latest results of an annual sustainability study. In GRESB’s annual environmental assessment of real estate developers and investment trusts, North American companies averaged a score of 59 out of a possible hundred, a five-point rise from last year and just shy of the global average of 60.

Hotel construction begins at One Daytona

Construction has started on the first hotel at One Daytona, the $120 million-plus project going up next to the Daytona International Speedway in Florida. The 105-room Fairfield Inn & Suites being erected by Shaner Hotel Group is a short walk from the track. It will be joined by a Marriott Autograph Collection hotel to be called The Daytona.
Millennials are no fans of Banana Republic

A new study from RBC Capital reveals that reversing Banana Republic’s ongoing sales decline is not going to be an easy fix for Gap Inc., reported thestreet.com.

In the survey, 48% of millennials polled said they disliked the chain compared to 22% who said they liked it. A majority of non-millennials also said they disliked the brand.
Nickelodeon to headline theme park at American Dream

Triple Five’s American Dream project in the New Jersey Meadowlands got closer to the finish line today with the announcement that Nickelodeon would be attaching its name and entertainment brands to the retail-entertainment center’s theme park. To be called Nickelodeon Universe, the 8.5-acre indoor amusement park — reputed by Triple Five to be the Western Hemisphere’s largest — will feature rides themed by Mutant Ninja Turtles, SpongeBob SquarePants, Blaze, and the Monster Machines.
More Amazon Lockers headed to the U.K.

Morrisons is leveraging its partnership with Amazon to deliver the next wave of convenience for its time-starved shoppers. The United Kingdom-based grocer plans to install hundreds of Amazon Lockers throughout its supermarkets this year, a move that allows customers to pick up Amazon orders at the store rather than wait for a home delivery.
Report: Mobile commerce hits its tipping point

Mobile retailing’s time has arrived. Mobile devices are beginning to dominate the commerce landscape, and retailers ready to capitalize on this trend will be successful at driving transactions for the shopping seasons to follow.
Study: Delivery time impacts online shoppers’ purchase decisions

Tom Cruise isn’t the only one with “a need for speed.” Now it is also a business imperative for online shoppers.
St. Georges Crossing reaches full occupancy

Boating goods retailer West Marine has leased 14,650 sq. ft. at St. Georges Crossing, bringing the Woodbridge, New Jersey, center to full occupancy. Leasing agent for the center, Levin Management, reports that several other centers in its portfolio have reached 100% occupancy in recent months, indicating renewed strength in both the economy and retail in the Northeast. Levin handles a portfolio of 95 properties in that region and in Mid-Atlantic states.
Tiffany names former railway exec as new finance head

Tiffany & Co. has hired Mark Erceg to become its next executive VP and CFO, effective Oct. 18, 206. Erceg, 47, who will be responsible for the company’s worldwide financial, indirect procurement and information technology functions, replaces Tiffany’s former CFO who left the retailer in May. Previously, Erceg was with Canadian Pacific Railway Limited, where he has served as executive VP and CFO since May 2015.
Report: Nasty Gal on hunt for a buyer

Apparel retailer Nasty Girl, one of the hottest apparel merchants on the Internet just a few years back, is looking for a possible buyer, Women’s Wear Daily reported.
New Lululemon store is a one-of-a-kind for retailer

Lululemon has opened a new concept store in Toronto that’s unlike anything the retailer has done to date. The 10,000-sq.-ft. store is part retail, part health food café, part gallery — and part practice studio, according to a report by torontolife.com. It even boasts a trailer. For more, and photos, click here.