News

New retail space in 2013 was once again heavy on redevelopment, expansion and outlet centers

Year five and, once again, too few square feet in ground-up shopping center construction to rank the “Fastest-Growing Developers” as has been the Chain Store Age tradition for the 20 years prior.

Today, developers seem fated to redevelop and expand existing centers, develop 300,000-sq.-ft. to 600,000-sq.-ft. outlet centers and perhaps add an occasional grocery-anchored infill center.

Walmart CEO Doug McMillon said he was reluctant to hit send on an email inviting CEOs from top global companies to attend the retailer’s Sustainable Product Expo because he knows how busy everyone is. However, when an email from the top executive from the world’s largest company offers an opportunity to “be part of what’s next,” it’s not surprising so many CEOs found time to visit Northwest Arkansas this week.
 

New York -- A bid to raise the federal minimum wage was rejected by Republicans in the Senate, who blocked legislation Wednesday to boost the rate to $10.10 an hour. Senators predominantly voted across party lines, which places Democratic senators in favor and Republican senators opposed.

The defeat was expected, and it is expected to serve as a rallying cry for Democrats preparing their next campaign.

Ten years ago, demographic experts predicted a looming talent shortage: When the massive baby boom generation retired, the small Generation X would not have enough experienced leaders and managers to fill the positions that boomers would vacate.

Similar to the overall retail sector, HSN’s first quarter results were affected by severe weather across the country, as well as softness in women's apparel, particularly at Garnet Hill. The company did report improved performance at HSNi, as demand strengthened throughout March.

Pittsburgh - GNC Holdings Inc. is launching a month-long fundraising and awareness campaign for Run With Us at more than 5,000 GNC stores and online at GNC.com. Run With Us is a curriculum-based health-=and-wellness program that brings elite track & field athletes and aspiring Olympians into the classroom to demonstrate how exercise and nutrition go hand-in-hand with goal setting and self-esteem.

There is no substitute for a strong brand — whatever the sales channel. That’s the basic underlying premise of Interbrand’s annual “Best Retail Brands” report, which ranks the top 50 North American and international retailers by brand value. It’s a premise worth keeping in mind amid all the online versus offline talk. As Interbrand global CEO Jez Frampton puts it: “In the end, it is the brand, not the footprint, that will endure.”

Despite what president and CEO Ajay Banga called a “mixed global economy,” MasterCard Incorporated kicked off the year with a strong quarter.

The company reported net income of $870 million, up 14%, and earnings per diluted share of $0.73, up 18%, in each case versus the year-ago period.