The retail apocalypse is getting worse, and it's taking the enclosed shopping mall down with it. Macy's is closing stores. So is J.C. Penney. Payless Shoesource is closing. Family Dollar and Victoria's Secret are shutting stores, too. But some retailers are escaping the gloom and doom. Those retailers, like Walmart, Target and Best Buy, have developed strategies to compete with Amazon. "The retailers doing well all have something really important in common – they are investing in innovation based on knowing their customer," said Bob Phibbs, a national retail expert and small business consultant. They've tinkered with their product mix, added new sections, like groceries. And they're luring shoppers to their stores by turning them into pick-up sites for online shoppers who want the gratification of same-day pickup, rather than waiting for Amazon's two-day delivery. They've added trendy private brands, and partnered with popular designers, as Target did by pairing up with Chip and … [Read more...] about As the Retail Apocalypse grows, clear winners and losers emerge
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Mary Hanbury, provided by Published 8:11 am CDT, Wednesday, March 27, 2019 Getty/ExFlow Westfield owns some of the most valuable malls in the United States. According to commercial real estate research firm Green Street Advisors, Westfield's parent company falls in the top four mall companies in the US in terms of asset value. Westfield was acquired by France's Unibail-Rodamco, a commercial property investor, for $15.7 billion in 2017. Business Insider spoke to the president of Unibail-Rodamco-Westfield's US operations to find out how the company has been able to stave off the retail apocalypse and stay ahead of the pack. Not all American malls are dying. In fact, a select group of high-quality mall operators are still managing to survive in today's tricky retail environment. Unibail-Rodamco-Westfield (URW) is one of them. This recently formed company — Australian mall operator Westfield was acquired by France's Unibail-Rodamco, a commercial … [Read more...] about One of the most successful mall companies in America reveals how it has defied the retail apocalypse
Mary Hanbury, provided by Published 1:48 pm CST, Thursday, March 7, 2019 Business Insider/Mary Hanbury Charlotte Russe filed to liquidate its assets on Wednesday and said it would close its remaining 416 namesake stores and 10 Peek Kids stores. The mall-based retailer, which is primarily geared toward young women, previously filed for Chapter 11 bankruptcy protection in February and said at the time that it would close 94 stores. We visited its only store in Manhattan, which was part of the first wave of store closures. Here's what we found. The end is nigh for Charlotte Russe. The mall-based retailer, which is primarily geared toward young women, filed to liquidate its assets on Wednesday and announced it would be closing all of its stores. It previously filed for bankruptcy protection in February and at the time said it would close 94 stores. Read more: More than 5,300 stores are closing in 2019 as the retail apocalypse drags on — here's the full list We … [Read more...] about We visited a Charlotte Russe store the day after the company filed to liquidate, and it’s clear the retail apocalypse is in full swing
More than 4,300 department stores are set to close this year as the retail apocalypse rips through American retailers. Gap, JCPenney, and Victoria’s Secret announced more than 300 store closures last Thursday. Department-store closures usually happen at low-quality properties rather than higher-end ones that are operated by mall giants such as Simon Property Group and Macerich, Kevin Brown, an analyst at Morningstar told Business Insider. Even if the situation is bad enough for the retailer to close one of these stores in high-quality locations, these mall operators have some time to absorb the effects, Brown said. More than 4,300 department stores are set to close this year as the retail apocalypse rips through Payless ShoeSource, Gymboree, JCPenney, Gap, Victoria’s Secret, and Sears. But one Wall Street analyst says mall giants should easily weather these closures. Gap said Thursday that it would close 230 namesake stores over the next two years as it reported … [Read more...] about The retail apocalypse will claim 4,300 stores this year. Here’s why mall giants aren’t freaking out.
Mary Hanbury, provided by Published 9:34 am CST, Thursday, January 24, 2019 Business Insider/Jessica Tyler Kohl's is closing four stores that are either based in or close to malls this year. It described these stores as "lower performing" locations. Kohl's is one of the few department stores that has been somewhat immune from the retail apocalypse. Experts say this is because the majority of its stores are located outside of malls. Kohl's is retreating from the mall. Earlier this month, the department-store chain disclosed in an SEC filing that it would be closing four of its stores this year. It described these stores, which are located either in a mall or close to one, as its "lower performing" locations. In the same announcement, Kohl's said it would be opening four smaller stores, which would keep the company's overall store count at 1,158. These smaller-format stores are 35,000 square feet in size, or around one-sixth the size of a … [Read more...] about Kohl’s is closing stores in malls to fend off the curse of the retail apocalypse (KSS)