Across Low and High Ends, Retail Sales Fell in May
from The New York Times
Most retailers, from high-end chains to discounters, posted disappointing May sales as shoppers cut their spending. While there have been early signs of stabilization, including improving consumer confidence, concerns over unemployment and the troubled housing market have led many Americans to adopt thriftier behavior, spending on food and other everyday essentials and not much else. More
Dollar General Rolls Out Mass Renovations
Pleased with the success of its first five remodeled stores, Dollar General Corp. will begin rolling out its remodeling program this month, executives said at the company's first quarter conference call. More
Macy's Prioritizes the Internet as it Slows Plans for Store Growth
from Internet Retailer
Macy's Inc. may still be best known for its stores, particularly the famed Macy's Herald Square along with a dominant presence in many shopping malls, but it may be awhile before additional stores join the chain. For now, the future is online, CEO Terry Lundgren says. More
Rethinking the Mall
from The New York Times
One doesn’t pop in to make a quick purchase at the Forum Shops at Caesars. Once inside this pseudo-palatial labyrinth, your path is blocked, er, directed by faux-marble benches, enormous planters and ill-placed concierge desks. You may see the store you need to get to in your line of sight, but access to it is, fittingly for Las Vegas, a mirage. There are no short cuts allowed, no direct paths. Your leisurely stroll is in fact carefully choreographed, and ensures that you will come into contact, however briefly, with every single store in the mall. More
C Store Cap Rates Rise; Industry Consolidation Continues
Despite the overall transaction market trend, sales of convenience store/gas station properties were relatively strong last year, according to the first half 2009 single-tenant retail report from Marcus & Millichap Research Services. Rising average cap rates for the property niche - in 2008, they reached their highest since 2002 - is one factor credited with fueling an increase in transactions. More
Wegmans to Sample American Classics
from Supermarket News
Wegmans Food Markets is celebrating its first-ever American Classics issue of Wegmans Menu Magazine by allowing customers to taste foods featured in the publication at its stores. "Sample our new yogurt based dressings and organic greens, our easy pasta meals and our blueberry pies," says Wegmans on its Web site. "Be sure to try our Premium Vanilla Ice Cream or a spoonful of fruity Sorbet. Before you enjoy them at home, get your first taste at this exciting store event." More
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Cadiz Signs Water Deals in Plan to Serve Three Million
Cadiz Inc., the owner of thousands of acres of California desert that’s trying to break into the water business, signed preliminary agreements with four municipal water agencies and a public utility that would allow it to supply more than three million customers in the state. More
Starbucks Pushes for Lower Lease Rates
from Display and Design Ideas
Taking advantage of a declining real estate market, Seattle-based Starbucks Corp. is pushing some of its U.S. landlords for as much as a 25 percent decrease in lease rates, according to Bloomberg.com. New York-based Prudential Douglas Elliman's retail leasing, marketing and sales division is advising about a dozen landlords to work with Starbucks after receiving letters seeking rent reductions of 20 percent to 25 percent. Starbucks began rent-reduction efforts in January as part of a plan to trim overall expenses. More
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