News

The single biggest shopping day in the world is almost here
Singles' Day, a festival that started in China some 20 years ago to celebrate being single, is fast approaching. And the country’s e-commerce giant is pulling out all the stops this year.
Phillips Edison buys Naples center
Phillips Edison, a major player in grocery-anchored centers, has acquired the Mission Hills Shopping Center in Naples, Florida, according to The Real Deal, a south Florida real estate site. The 11-year-old, 85,078-sq.-ft. center anchored by Winn-Dixie and Anytime Fitness is 97% leased, according to the seller, The Hampshire Companies. Terms of the deal were not disclosed. More than 3,000 homes are under construction within two miles of the Mission Hills center, according to Hampshire.

Staples to pay back some student loans

Staples wants to help its associates pay back their student loans. The retailer is launching a new student loan repayment plan for sales associates as part of a broader recruiting effort. The first part of the program initially targets specific new hire sales associates and existing internal candidates who have been identified as high potential and top performers. Staples said it will expand the program to additional groups in the future.
Restaurant chain to pursue national waste and utility expense management

Kona Grill is looking to minimize energy consumption and cut down on waste. The restaurant company selected Ecova to provide waste expense management strategy and utility expense data management for the American grill and sushi bar chain’s more than 43 restaurants in the United States and Puerto Rico.
Zara takes space at Cherry Hill Mall

Zara, the trendy global fashion retailer, will soon assume a place between Macy’s and Nordstrom at the Cherry Hill Mall in suburban Philadelphia.
Report: Online retail sales to hit $440 billion in 2017

Online growth — and along with it, online market share — continues to accelerate. The trajectory is so strong that sales are on pace to hit $440 billion in 2017, a leap from $395 billion expected in 2016, according to “U.S. Online Sales Forecast: Omni-Channel Retailing Challenged by Its Success,” a report from FTI Consulting.
Amazon launches Black Friday deals — starting now

For every shopper that asks “Alexa, what are your holiday deals?,” Amazon now has answers. The Internet giant has officially kicked off the holiday countdown with the launch of its Black Friday Deals Store and curated holiday gift guides, along with an array of other digital services geared to attract shoppers this shopping season.
Coach profit surges in Q1

Luxury handbag and accessories brand Coach posted a 22% increase in profit for the first quarter, a result that one analyst said show the company’s turnaround is delivering. Profit totaled $117.4 million in the quarter, or 42 cents per diluted share. Adjusted net income for the quarter totaled $126 million, or 45 cents per diluted share, slightly ahead of forecasts.
DLC chief: Big acquisition means big work ahead

DLC Management Corp.’s joint acquisition of 16 properties with DRA Advisors this month increased the square footage of its portfolio by 26% and its dollar value by 17%. DLC president and CEO Adam Ifshin aims to increase that dollar contribution in the years to come. “We don’t buy value-add properties and baby-sit them,” he told Chain Store Age. “We come to them with a business plan and ask ourselves ‘How do we add value?’”
Orangetheory among new tenants at Santa Fe center

Phillips Edison & Company announced the signing of three new tenants at its 117,006-sq.-ft. Coronado Center in Santa Fe. Orangetheory makes its debut in the New Mexico capital in a 2,640-sq.-ft. space and gets a wellness accompaniment from Nutrishop, which inhabits a nearby 1,000-sq.-ft. store. The New Bakery Company, a Santa Fe fixture for 19 years, is re-opening at Coronado Center with a renovated space and new ownership.