News

Strategic partnership seeks opportunities in Southeast
St. Petersburg-based Sembler Co. and Atlanta-based Berkley Development have formed a new venture to explore development opportunities in the Southeast. “This partnership will allow us to work with an exceptional industry professional to better pursue other types of development and redevelopment – small power centers, urban redevelopment projects, even retail elements of primarily residential developments, as possible examples,” said Sembler CEO Ron Wheeler.
Amazon CEO reflects on future in annual letter to shareholders
Amazon Jeff Bezos is certainly not sitting back and relaxing in his company’s success. As his annual letter to shareholders reveals, Bezos is spending a lot of time thinking how his company can remain vibrant and successful. The letter repeats a theme that the executive brought up in his letter last year: how to keep alive the animal spirits that led Amazon to greatness, reported the Seattle Times.

Report: Beauty retailer attracts suitors

An array of private equity firms are interested in The Body Shop. The beauty retailer, which is owned by cosmetics giant L’Oreal, has drawn bids from around 15 private equity firms and companies, including Bain Capital, CVC Capital Partners, Carlyle Group LP and South Korea’s CJ Group, Bloomberg reported.
Fast-growing teen value retailer enters California

Five Below is making its West Coast debut. The retailer will open stores on Friday, April 21, in Aliso Viejo, Anaheim, Compton, Hawthorne, Montebello, Fontana, Rancho Cucamonga, South Gate and Redlands. The stores mark the company’s first West Coast locations, bringing its reach to approximately 550 stores in 32 states.
Fast-fashion retailer expanding further into Canada

Uniqlo is set to open its third location in Canada. The Japanese retail giant will open a two-level, 20,630-sq. ft. store at Metropolis at Metrotown, Burnaby, this fall. It will be Uniqlo’s first location in British Columbia, with the retailer’s other two Canadian stores in Toronto.
Toys ‘R’ Us in new venture with Fung Retailing

Toys “R” Us is combining its business in Japan with its ones in Greater China and Southeast Asia. In a joint venture between the toy retailer and Fung Retailing Limited, Toys “R” Us, Japan, which operates 160 stores in the country, will become part of Toys “R” Us, Asia Ltd., which operates 223 stores in Greater China and the Southeast Asia markets and licenses an additional 34 stores in the Philippines and Macau.
Walmart turns up the heat on Amazon with new discounting program

Walmart has fired another shot at Amazon. In a move that leverages the retail giant’s vast store and delivery networks and expanding online capabilities, Walmart, starting April 19, will begin offering a discount on merchandise that customers buy online and have shipped to a Walmart store for pick-up. Walmart’s new Pickup Discount program will initially be available only on about 10,000 items, but will be expanded to more than one million of the chain’s most popular items by the end of June.
PetSmart expands physical presence and digital offerings

PetSmart is growing its brick-and-mortar footprint along with its digital one. The retailer opened 30 stores across the U.S. and Canada in the quarter ending January 29, 2017, for a total of 70 new stores opened in fiscal 2016 to 73.
First Look: Under Armour, Detroit

Under Armour has brought its experiential “brand house” store concept to downtown Detroit. The three-floor, 17,000-sq.-ft. space reflects the company’s roots in Baltimore and also pays homage to the history and spirit of Detroit. The design uses athlete imagery and product installations to convey an immersive brand experience and inspire customers.
Toy retailer reports ‘disappointing’ year

Toys “R” Us reported declines in same-store sales for its fourth quarter and full year amid a highly competitive environment.