News

The top five breakout trends in shopping centers are…
There is a good chance that the shopping center as its exists today will look completely different 10 years from now.
Walmart in big remodeling push
Walmart will be making big changes to a lot of stores this year, according to a report from MLive.com. Among the roughly 400-640 stores that will get a remodel this year are 12 Michigan locations, the report said.

MLive notes that among the changes coming to stores undergoing a remodel will be a lounge-like area for in-store pickup, the locations of which will move to the front of the store, more fresh and organic offerings, wider aisles and changed sightlines. Three markets in Michigan also will see the piloting of online grocery ordering for in-store pickup, the report said.

Real estate developer acquires luxury footwear brand

Harrys of London has a new owner with an interesting portfolio who wants to expand the brand. The luxury footwear and accessories brand has been acquired by Charles S. Cohen, a New York real estate developer and media entrepreneur. Cohen, who acquired 100% interest in Harrys from Palladin Consumer Retail Partners, will assume the position of chairman. Palladin acquired a majority stake in Harrys in 2014.
Amazon’s newest book store planned for L.A.

The City of Angels has joined the growing list of cities that will feature an Amazon Books store. Amazon submitted a building application to open a 5,227-sq.-ft. suite at the Westfield Century City mall in Los Angeles on May 9. The online retailer received initial plan check approval the same day, according to a record on the L.A. Department of Building and Safety website.
J.C. Penney checks into its newest business — hospitality

A department store chain is pursuing a new business opportunity. J.C. Penney now offers business-to-business solutions for operators and facility managers in the hotel and lodging industry, as well as the multi-unit residential industry. And the chain has a few categories that fit the bill.
Forever 21 to launch new store concept

Forever 21 has entered into a partnership with mall owner GGP Inc. to debut a new, freestanding brick-and-mortar retail format. The Los Angeles-based fast-fashion giant will launch Riley Rose, a beauty boutique, at 13 GGP regional shopping centers, with 10 locations opening in 2017. According to a report by newbeauty.com, the new concept will be experiential, millennial-focused and Instagram-friendly.
Athletic and apparel retailer off to slow start in Q1

Foot Locker posted weaker-than-expected earnings and sales for its first quarter after high promotional activity and getting off to a slow start in February. Net income for the company's first quarter ended April 29, 2017 was $180 million, or $1.36 per share, compared with net income of $191 million, or $1.39 per share in the year-ago period.
Amazon’s drone delivery efforts are for the birds

There’s more to drone-based deliveries than just dropping parcels — at least it is for Amazon. The online giant is developing an air-traffic control system to manage its fleet of drones as they fly from warehouses to customers’ doors — a move that will ensure the devices don’t collide with “non-collaborative flying objects” during delivery, Bloomberg reported. These include buildings, trees, other drones and — the most unpredictable — birds.
Athleisure brand adds new tech lead

Lululemon has named a new chief technology officer. According to a report in GeekWire, Julie Averill is joining the retailer as its new executive VP and chief technology officer. Currently, Averill is the CIO at REI.
Real Estate Report Digital Edition, courtesy of Phillips Edison

Phillips Edison & Company is the fastest-growing company in retail real estate, and it wanted to applaud that fact by giving retailers the fastest route to Chain Store Age’s Annual Real Estate Report. Dig in to learn about the leading developers, the best third-party managers, and the future innovators in the business.

Get the digital report.