News

Urban influx, urban infill, and urban migration
Across the United States, cities have been experiencing a development resurgence. Legions of Americans are departing suburbia and returning to urban environments, with millennials leading the migration. Young adults are abandoning the suburban subdivisions they grew up in for denser, more vibrant urban settings. Consequently, once-empty lots, city blocks, and otherwise underutilized properties are being replaced with multi-use buildings that can accommodate new residences, office space, and retail.
Technical problem could prove costly to Amazon
Did Amazon’s website had a technical glitch on one of the biggest shoppings day of the year? According to various reports, Amazon’s site had a glitch on “Super Saturday” that temporarily prevented customers from making purchases.

More retailers eliminate on-call scheduling

Aeropostale, Disney Store, Pacific Sun, and Zumiez joined the growing list of retailers that have stopped using the controversial practice of on-call scheduling for store employees.
Survey: Online spend per gift rises; outerwear most popular gift

Consumers are spending more money per gift online this holiday season than last — 49% more to be exact. That’s according to e-gifting platform and service Look Commerce, which announced insights into consumer gifting behavior and top gifts purchased between Dec. 10 and Dec. 16, 2016.
Walgreens Boots Alliance and Rite Aid agree to sell 865 Rite Aid stores to Fred’s Pharmacy

Walgreens Boots Alliance and Rite Aid have entered into an agreement to sell 865 Rite Aid stores and certain assets related to store operations to Fred’s for $950 million. The transaction is subject to Federal Trade Commission approval, the approval and completion of the pending acquisition of Rite Aid by Walgreens Boots Alliance, and other customary closing conditions.
Michigan town seeks developer for $350 million mixed-use project

Officials from the city of Troy, Michigan, made the rounds of the New York Deal Making show looking for a partner to help them erect a proposed $350 million town center.
Two more Amazon DCs on the way

Amazon is continuing to build out its already expansive fulfillment network. The online giant plans to open two new facilities in Aurora, Ill, generating more than 1,000 additional full-time jobs with benefits to the state. Amazon currently operates warehouses in Edwardsville, Joliet and three facilities in Romeoville. Another depot is currently under construction in Monee.
comScore: Online desktop sales climb one week before Christmas

With only days to go in the 2016 holiday shopping season, online desktop spending continues to rise. For the holiday season-to-date, $55.2 billion has been spent online, marking a 13% increase versus the corresponding days last year. The most recent week, Dec. 12-18, posted a strong 15% growth in online sales, marking $7.6 billion in desktop spending during the last full week before Christmas.
Destination Maternity to be acquired by French company

French children’s clothing company Orchestra-Premaman SA has won its battle to acquire to acquire Destination Maternity Corp. The deal calls for Orchestra to acquire Destination Maternity for about $7.05 a share, valuing the U.S. retailer at about $100 million according to its share count.
Study: Luxury brands excel in holiday shipping

Luxury brands seems to be going the extra mile this holiday season. This is according to “2016 Holiday Shipping,” a report from Kurt Salmon, part of Accenture Strategy, that analyzed orders with 84 retailers across a broad range of categories on Black Friday and Cyber Monday 2016. The study analyzed online orders that were shipped to consumers, as well as those collected in-store, to measure shipping speed, accuracy and cost.