News

Editor’s Note: The 27th annual survey of Fastest-Growing Managers tallies new domestic and international third-party management and leasing contracts obtained during the 2015 calendar year and ranks the top performers. As always, the measuring stick is square footage.

This year’s fastest-growing third-party managers are taking many roads to growth, from acquisition to a multidisciplinary focus.

Editor’s Note: The 27th annual Chain Store Age survey of Fastest-Growing Acquirers surveyed retail square footage purchased during the 2015 calendar year.

They come to the list with different philosophies and experiences, but this year’s Fastest-Growing Acquirers share a dedication to preparation and long-term strategies.

Don’t overlook the impact that batteries have on retail operations and the bottom line. That’s the advice of IPT’s Ken Murphy, who told Chain Store Age that most retailers don’t realize how much money they spend — and productivity they lose — by constantly having to replace dying batteries in wireless barcode scanners. The problem, he says, is the continued use of subpar OEM batteries.

What is the biggest challenge retailers face regarding the batteries in barcode scanners and other devices?

At first glance, hardware cooperative Ace Hardware Corp. and video game chain GameStop Corp. are two retailers with little in common. However, both are leveraging their physical stores as fulfillment points for omnichannel purchases.

Ace is the place with in-store pickup

Oak Brook, Illinois-based Ace Hardware Corp. operates more than 4,400 stores and a distribution network of 14 retail support centers (RSCs) across the U.S. The company leverages this physical footprint to help meet the needs of online shoppers.

There are a lot of options in decorating a home, and Los Angeles-based Z Gallerie wants to match its offerings to customer tastes.

“We’ve been known for one particular style, which our customers love and that we’ve done quite well with,” said Chris Nicklo, VP customer and chief marketing officer of Z Gallerie. “But to grow, we knew we would need to appeal to a broader spectrum of customers.”

James Rhee is a tech-savvy numbers and operations guy, but the private equity investor-turned retailer relied on more than business smarts and technology to help revive Ashley Stewart. Realizing that the plus-size brand inspired a deep love among its customers, he developed a core strategy of kindness and loyalty, a strategy that recognized Ashley Stewart represented respect, community and joy to its shoppers.

For all their differences, the shopping center owners and brokers from around the world who will gather at the end of May in Las Vegas for retail real estate’s annual RECon confab are alike in that they are all on the lookout for new retail concepts to lure and entice shoppers.

The good news is that there are plenty of newer brands ready to spread their wings. Some have been around for a couple of years, but are flush with new financing. Many are formerly pure players now turning their attention to physical stores.

User data from Pinterest shows that more than one-in-three of its 100 million global users are millennials. In addition, 79% of millennial Pinterest users say the platform is a “guide to life and is a place to teach me how to do things,” compared with 71% of all Pinterest monthly users.

Other notable millennial-related findings include:

With the retail environment changing so rapidly today, and technology impacting everything a store does, the role of the chief financial officer has become more important than ever.

When I started recruiting in 1990, the business was much simpler — we hired retail executives based on a linear skillset, and departments operated in individual silos. Today, it is much more complex, as the C-suite works in collaboration to keep up with an increasingly savvy consumer.

So, what then do you look for in a CFO today?

Serena & Lily has opened a flagship in a landmark structure in Wesport, Connecticut.

The 3,100-sq.-ft., three-story store is located in the historic Kemper-Gunn House, which was built in 1889 in the Queen Anne Victorian style. The retailer worked to preserve the original charm and character of the house, from the elaborate detailing in the exterior façade to saving the interior trim, hardware, hand-carved staircase, and stained glass windows.