News

September 20, 2017
Rolex, Tesla, Lovesac among 11 new stores to open at Somerset mall

TROY - A number of prominent retail brands are planning to open up shop in a major high-end Michigan mall within the next year. The Somerset Collection is adding nearly 60,000 square feet of new retail space, the suburban Detroit mall announced. Tesla plans to open a 2,220-square-foot showroom for its luxury electric cars and accessories in O... »

September 19, 2017
Bangor Mall’s owner at risk of default on $80 million loan

The primary owner of the Bangor Mall is at risk of defaulting on an $80 million loan that uses the mall as collateral, according to industry analysts. Simon Property Group of Indianapolis took out the loan in 2007 and has made only interest payments. In late August, with the 10-year loan’s maturity date fast approaching, lender Morgan Stanley ... »

September 19, 2017
Retail strategy right on track says Sydney Airport CEO Kerrie Mather

AUSTRALIA. Sydney Airport’s largest development programme since the lead-up to the Sydney Olympic Games in 2000 is paying off strongly for retail, according to CEO Kerrie Mather. As reported, retail was the star turn in the airport’s first-half results, up +14.3% on passenger growth of +3.6% (+7.7% international) to A$162.6 million (US$129.1... »

September 19, 2017
Toys R Us seeks bankruptcy to survive retail upheaval

Toys R Us, the largest U.S. toy store chain, which filed for bankruptcy late Monday, will ask a judge on Tuesday for permission to borrow money so that it can start paying suppliers to ensure it has Lego building blocks and Barbie dolls for the holiday season. The Chapter 11 filing, to restructure $5 billion of long-term debt, is among the large... »

September 17, 2017
Airport sleep pods haven for stranded fliers

For decades, a thunderstorm or missed connection meant those traveling by air might have to sleep in the airport, leaving frustrated travelers with a truly tired dilemma: Is the boarding gate chair-curl worth a try, or is it better just to grab some floor? Meanwhile, a company dubbed izZzleep opened a sleep capsule warren in the Mexico City airp... »

September 13, 2017
The Future Retail Success Depends On Culture, Not Technology

Between virtual assistants like Amazon's Echo, tests of delivery service by drone, and the option to pay by Bitcoin, it's clear technology is disrupting the retail industry. Traditional retailers that struggle to adopt new technologies like AI and deep learning seem doomed for failure. But to be prepared for the future, the retail industry needs ... »

September 12, 2017
Apple repositions its retail stores as lifestyle centers

Apple has long been lauded for its innovative approach to retail stores (hello, glass cubes and floating stairs). Now the company is repositioning those stores as lifestyle centers. Shortly after Apple CEO Tim Cook took the stage, he brought out retail chief Angela Ahrendts — noteworthy because Apple has been criticized in the past for its lac... »

September 11, 2017
Let’s talk about Doughp, San Francisco’s new cookie dough kiosk

In less than a week, San Francisco’s only hip hop-influenced cookie dough kiosk Doughp (pronounced “dope”) will open its first brick and mortar location in the Castro’s Myriad food hall. It’s a millennial-focused outfit with concoctions like “This S’More is Hella Lit” (marshmallow fluff-infused dough with graham crackers and choc... »

September 11, 2017
There Will Be More Retail Stores Opening Than Closing In 2017

You read the headline right, there are more retail stores opening this year than there are stores closing. You may say, but when I walk down almost any shopping street, I see so many vacancies where there were previously tenants, so... how can there be more openings than closings? A new report out by IHL Group answers the question. The kind of s... »

September 11, 2017
The surprising retail habits of millennial shoppers

Millennials are changing the retail landscape in some pretty unexpected ways. This largest generation in United States history is pretty broke – they’ve grown up in the great recession, they are saddled with student loan debt, and they make about $2000 less per year than young adults did in 1980. They are still spending money, they are just doi... »

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