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Rethinking an American icon: The shopping mall
CBS News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The Voorhees Town Center in New Jersey used to be home to the under-performing Echelon Mall, first built on the grounds of the old Echelon Airfield in 1970, and later overshadowed by larger malls located off interstate highway exits. So, the developer, Pennsylvania Real Estate Investment Trust, or P.R.E.I.T., decided to demolish half of the old mall, build the apartments, and create the tree-lined, pedestrian-friendly boulevard. The town's government offices moved inside what is left of the mall. That feeds foot traffic to the remaining stores, anchored by a Macy's and a Boscov's. "As far as I know, this is the only mall in the United States with a town hall as an occupant," said Joe Coradino, CEO of P.R.E.I.T. More



New legislation extends HVAC and water heating 25C tax credits
Today's Facility Manager    Share    Share on FacebookTwitterShare on LinkedinE-mail article
On January 2, 2013, President Barack Obama signed legislation designed to avoid the "fiscal cliff" and keep tax rates from increasing for every American who pays taxes. In addition to its many other tax provisions, the bill retroactively reinstates the 25C tax credits for highly efficient HVAC and water heating equipment that expired at the end of 2011. More

December retail sales up despite setbacks
USA Today    Share    Share on FacebookTwitterShare on LinkedinE-mail article
December retail sales ended on a high note, with better-than-expected results, despite setbacks, in the form of Hurricane Sandy and fiscal cliff-weary customers. Sales for the month rose 4.8 percent excluding drug stores, according to Retail Metrics, whose most recent forecast was for a 3.4 percent gain. More
Related articles:
Retailers post 4.5 percent increase in December sales (The New York Times)
What fiscal cliff? US shoppers shrug off budget debate (Reuters)


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Gap to buy luxury retailer Intermix
The Wall Street Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Gap Inc. Gap Inc. is buying women's fashion boutique Intermix Inc. for $130 million, a deal that will give the mostly casual-clothes retailer an opening to the all-important luxury market. The acquisition is the first in half a decade for Gap, which is coming off a string of rare fashion successes that boosted its sales and stock price last year. More


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Starbucks to open in Vietnam in push to boost Asia sales
Bloomberg    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Starbucks Corp., the world's biggest coffee-shop operator, will open its first store in Vietnam next month as it expands into its 12th Asian nation. The cafe is scheduled to open in Ho Chi Minh City, the Seattle-based brewer said in an emailed statement. Hong Kong Maxim's Group subsidiary Coffee Concept Ltd., which already has stores in Hong Kong and Macau, will operate the location and is the licensee for Vietnam, Starbucks said. More

7-Eleven acquires 143 locations in South Texas
Chain Store Age    Share    Share on FacebookTwitterShare on LinkedinE-mail article
7-Eleven announced that it has acquired 143 Speedy Stop and Tigermarket retail locations from C. L. Thomas, of Victoria, Texas. The acquisition, which closed Dec. 31, increases 7-Eleven stores' footprint in San Antonio, where recently the country's largest convenience retailer purchased 25 stores as part of its acquisition from TETCO. It also adds to 7-Eleven's growing fuel wholesale-delivery business because the acquisition includes gasoline distribution to approximately 150 dealer-operated sites. More



A facility manager's guide to LEED-EB O&M rating system
FacilitiesNet    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Since 1998, maintenance and engineering managers have had a valuable metric for measuring the greenness of their institutional and commercial buildings. The U.S. Green Buildings Council created the Leadership in Energy and Environmental Design (LEED) rating system for new construction and major renovation projects. As a result, it really was not suited for evaluating the greenness of existing buildings. More

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Phillips Edison REIT: $55.5M shopping spree
The Enquirer    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Cincinnati-based Phillips Edison-ARC Shopping Center REIT Inc. went on a shopping spree of its own in the final week of 2012: It purchased three grocery-anchored shopping centers for $55.5 million. The acquisitions add the firm's first Trader Joe's, Vons and Raley's grocery stores, and expand the company's reach into Oregon and California. They bring the company's total portfolio to 26 properties with 12 leading grocers, in 15 states, with an aggregate purchase price of $307.0 million. More

Malls blossom in Russia, with a middle class
The New York Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Shoppers who find that 250 stores aren't enough can go ice skating, watch movies or even ride a carousel, all under a single roof. While it sounds like the Mall of America, this mall is outside Moscow, not Minneapolis. "I feel like I'm in Disneyland," Vartyan E. Sarkisov, a shopper toting an Adidas bag, said recently while making the rounds of the Mega Belaya Dacha mall. Instead of bread lines, Russia is known these days for malls. More


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Starbucks reveals $1 reusable cup to curb trash
USA Today    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Amid public pressure to curb trash from disposable cups, Starbucks is rolling out a novel possible solution Thursday: a $1 reusable tumbler. The Seattle-based coffee giant will start selling the plastic cups, bearing its logo and resembling the paper version, at all its company-owned stores in the USA and Canada in a bid to get customers to kick their throwaway habit. It will give a dime discount for each refill so the cup pays for itself after 10 uses. More



Holiday e-commerce sales top $42 billion
Internet Retailer    Share    Share on FacebookTwitterShare on LinkedinE-mail article
U.S. consumers spent $42.28 billion online in November and December, a 13.7 percent increase over $37.17 billion spent during the holiday shopping season in 2011, comScore Inc. reports today. Meanwhile, sales at U.S. chain stores, not including drug stores, increased just 3.1 percent year over year in the same period, according to ICSC, a trade organization for shopping centers. More



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Polaroid to launch new retail concept with 10 stores in 2013
Chain Store Age    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Polaroid has announced plans to launch a new experiential retail concept called Polaroid Fotobar, opening at least 10 locations in 2013. The stores are designed to allow consumers to take the images from their digital devices and easily turn them into museum-quality art. Polaroid Fotobar envisions the stores becoming a recreational and entertainment destination in addition to a place to shop. More



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PRSM Weekly
Colby Horton, Vice President of Publishing, 469.420.2601
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Yvette Craig, Senior Content Editor, 469.420.2603   
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