Content about Retail

Bloomington, Minn. -- Mall of America, the nation's largest retail and entertainment destination, has unveiled a new logo and tagline.  

Omaha, Neb. -- Apparel and home-décor retailer Gordmans said Tuesday it has appointed Geoffrey Ayoub as senior VP planning, allocation and analysis.

Ayoub joins Gordmans from EDCON, a South African-based retailer operating over 1,000 stores in multiple retail formats throughout five countries. At EDCON, he served as chief planning officer responsible for all aspects of merchandise planning, allocation, replenishment and merchandise analysis.

Los Angeles -- CBRE Group released research findings on Tuesday that showed Hong Kong continued to keep its top spot as the world's most expensive global retail market, recording prime rents nearly 150% higher than New York City.

London ranked third, with prime rental rates 400% lower than Hong Kong’s.

By Rafi Musher, rmusher@stax.com

Cleveland -- Marcus & Millichap Real Estate Investment Services said it has named Craig M. Fuller director of the firm’s National Retail Group and Net Leased Properties Group in Cleveland.

Fuller joined Marcus & Millichap in June 2008. He specializes in the sale of both multi-tenant and single-tenant net-leased retail investment properties throughout the Midwest with a special focus on Ohio and Pennsylvania.

Washington, D.C. -- Total retail sales increased 0.1% in April from March, according to figures released Monday by the U.S. Commerce Department. The increase, an improvement from a 0.5% decline in March, beat the 0.3% drop economists had predicted in a Bloomberg survey.  

Excluding automobiles, gas stations and restaurants, sales  increased 0.6% seasonally adjusted from last month and increased 3.9% unadjusted year-over-year, according to the National Retail Federation.

New York -- Checkout remains the number one in-store pain point for 73% of U.S. consumers, according to a survey by Synqera, a global technology startup that uses big data to bring personalized digital experiences to the physical retail store.    

The survey found that more than two-thirds of Americans prefer to shop in traditional, brick and mortar stores than online commerce sites, and that shoppers gravitate towards retail locations that offer customized shopping experiences but that

New York -- TJX Cos. has joined the growing ranks of retailers who no longer report monthly sales. On Thursday, the retailer announced that it will report results on a quarterly basis going forward. Also, as previously announced, Ross Stores will no longer be reporting same-store sales after the April results.

That will leave 11 U.S. retail chains reporting monthly sales, down from a peak of 68 in 2006, according to Reuters.

Buffalo, N.Y. -- Buffalo, the second largest city in New York, has become the first market in which a majority of Rite Aid's stores have been converted to the Wellness format, the retail pharmacy chain announced Wednesday.

Irvine Co.'s The Market Place is too big for one city. It sprawls across two. Split in two by Jamboree Road, the southern half of the 120-store, 165-acre center resides in Irvine, Calif. The northern half is in Tustin.

The huge regional destination center combines open-air lifestyle retail with big-box retail. Nationally known value- and quality-driven store names offer apparel, books, electronics, fitness, groceries, home furnishings and decor, movie theaters, restaurants, various services, sporting goods, toys, and on and on.

One hundred and forty one billion dollars. That's the estimated brand value of Walmart, according to Interbrand's "Best Global Brands" report. The annual study ranks the 50 most valuable U.S. retail brands, along with the top store brands in countries around the world.

In New York City, Philadelphia, Washington, D.C., Denver — and other major cities across the country — creative young chefs are opening their own restaurants.

"In New York, the trend isn't all that new. Think of Andre Soltner, Jean-Georges, David Chang and others," said Faith Hope Consolo, noted trend-watcher and chairman of Douglas Elliman's Retail Group in New York City.

Indeed, we probably shouldn't call it a trend any more. In a growing number of cities, chef-owned restaurants are a mainstay of rising urban neighborhoods.