Retailers

Century 21 Files for Bankruptcy, to Close All 13 Department Stores

by Alex Tostado September 15, 2020

New York City — Century 21, a New York City-based department store chain with a 60-year operating history, has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York. The retailer will soon begin the process of ceasing operations and will close all 13 of its stores, which are located in New York, New Jersey, Pennsylvania and Florida. The decision follows nonpayment by Century 21’s insurance providers of $175 million due under policies put in place to protect against losses stemming from business …

September 15, 2020

Company news News Retailers Washington

Amazon to Hire 100,000 Workers Across U.S., Canada to Meet Continued E-Commerce Demands

by Alex Tostado September 15, 2020

Seattle — Amazon (NASDAQ: AMZN) has announced plans to hire an additional 100,000 full- and part-time employees throughout the United States and Canada. This plan is in addition to the 33,000 new corporate and technology jobs announced last week. The roles offer a starting wage of at least $15 per hour, and in select cities, Amazon is offering sign-on bonuses up to $1,000 to new hires. The new employees will staff the 100 new operations buildings that Amazon is opening this month across its fulfillment centers, delivery stations and other …

September 15, 2020

Company news Grocery-anchored News Ohio Retailers

Kroger’s Digital Sales Surge 127 Percent in Second Quarter

by Alex Tostado September 15, 2020

Cincinnati — The Kroger Co. (NYSE: KR) has reported that its digital sales surged 127 percent in the second quarter, which ended Aug. 15. Consumers have been buying more groceries online as a result of the coronavirus. “Investments made to expand the company’s digital ecosystem are resonating well with customers,” says Rodney McMullen, chairman and CEO. In addition, the Cincinnati-based grocer’s operating profit of $820 million was up 43 percent compared with the same period a year ago. Total company sales were $30.5 billion in the second quarter, compared with …

September 15, 2020

Florida Investment sales News Retailers

TSCG Brokers Sale of Grocery-Anchored Shopping Center in Southeast Orlando

by Alex Tostado September 15, 2020

Orlando, Fla. — TSCG has arranged the sale of The Shoppes at South Semoran, a 101,611-square-foot shopping center in Orlando. The property was originally built in 1986 and renovated in 2013, when anchor Walmart Neighborhood Market opened. At the time of sale, the property was 97 percent leased to tenants including Walmart, Chase Bank, Dollar Tree and Wendy’s. The asset is situated at 4520 S. Semoran Blvd., seven miles southeast of downtown Orlando. Anthony Blanco, Lenard Williams, Mallory Silva and Gavin Walsh of TSCG represented the seller, an affiliate of …

September 15, 2020

Leasing News Retailers West Virginia

Hibbett Sports Opens 5,600-Square-Foot Store at Mall in Morgantown, West Virginia

by Alex Tostado September 15, 2020

Morgantown, W.Va. — Hibbett Sports has opened a 5,600-square-foot store within Morgantown Mall. The Birmingham, Ala.-based sports retailer offers brands such as Nike, Under Armour, Jordan, The North Face and Adidas. The new location implements the company’s new store design, which features an open concept, phone charging stations and other amenities for customers to experience. The mall location also offers online, pick-up in-store and curbside pick-up shopping options. Morgantown Mall is located at 9235 Mall Road, three miles southwest of downtown Morgantown and three miles south of West Virginia University.

September 15, 2020

Industry Content Leasing Malls Nevada Operations Restaurants Retailers Webinar

Webinar: Las Vegas Retail Outlook — How is the Las Vegas Retail Sector Responding to COVID-19?

by Sarah Daniels September 11, 2020

Webinar: Las Vegas Retail Outlook — How is the Las Vegas Retail Sector responding to COVID-19? hosted by Shopping Center Business and Western Real Estate Business, covers the approaches taken by an expert panel of retail leaders responding to COVID-19. Watch Webinar: Las Vegas Retail Outlook — How is the Las Vegas Retail Sector responding to COVID-19? to learn what retailers, restaurants, and developers need to thrive and what our panelists anticipate for retail in the near future. See a list of some topics covered below. How significantly has decreased tourism affected …

September 11, 2020

Entertainment International News Retailers

Rolling Stones, Bravado Open First Flagship Store in London

by Alex Tostado September 9, 2020

London — The Rolling Stones has opened RS No. 9 Carnaby, a retail store located at 9 Carnaby St. in London’s SoHo neighborhood. The new store, created in partnership with Bravado, Universal Music Group’s merchandise and brand management company, features the iconic Rolling Stones logo on the window as well as an illustrated soundwave of the opening to the 1966 track “Paint It Black.” Inside, the glass floor features many of the band’s lyrics, and the fitting rooms are adorned with artwork from albums “Exile on Main Street” (1972) and “Some …

September 9, 2020

Company news International News Retailers

lululemon Reports Second-Quarter Online Sales Jump 157 Percent Year-Over-Year

by Alex Tostado September 9, 2020

Vancouver — lululemon Athletica Inc. (Nasdaq: LULU) has reported online sales jumped 157 percent in the second quarter compared to Q2 2019. The Vancouver-based retailer closed stores in its North American, European and Asian Pacific portfolio in the first quarter due to the coronavirus pandemic. lululemon began reopening stores in the second quarter. As of Aug. 2, 492 of 506 company-operated stores were open. The clothing store reported in-store sales were up 3 percent year-over-year. “We’re pleased with our overall business results for the second quarter, as lululemon increasingly lives up …

September 9, 2020

Leasing Malls Operations Restaurants Retailers Webinar

Webinar: Central Florida Retail Outlook: How are Central Florida Markets Responding to COVID-19?

by Sarah Daniels September 9, 2020

(Panelists, top, left to right): Ralph Conti, RaCo Real Estate Advisors; Cindy Schooler, SRS Real Estate Partners; Chuck Whittall, Unicorp National Developments. Shopping Center Business and Southeast Real Estate Business hosted “Central Florida Retail Outlook: How are Central Florida Markets Responding to COVID-19?” Watch to hear how the retail leaders are adapting to the challenges of COVID-19 and its fallout for tourism and travel. See a list of some topics covered below: To what extent has tourism declined in Central Florida this year — and how significantly has that affected the retail …

September 9, 2020

Arizona Features News Restaurants Retailers

Taylor Street: Opportunities Still Abound, If You Know Your Market

by Sarah Daniels September 9, 2020

With a multifaceted approach to real estate, Taylor Street has an ear to the ground when it comes to investing, selling, financing, leasing and managing commercial properties. The Phoenix-based advisory firm is closely following the pandemic’s effects on retail. Vice president Jake Baratz and investment advisor Boston Chauthani recently sat down with Shopping Center Business to share some of their key insights. To plan for the future in the middle of a pandemic, the firm is advising investors to carefully evaluate market activity at the highest level in individual markets …

September 9, 2020

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