REAL ESTATE

Citizen Watch to open Times Square flagship store

BY Dan Berthiaume

Lyndhurst, N.J. — Citizen Watch Company, a leader in the mid-priced watch segment, will will a global flagship store in Times Square, New York, on Broadway in November. This will be the first Citizen Watch global retail concept store in North America.

The store will measure more than 1,300 sq. ft. and offer the full Citizen product assortment. Citizen has hired New York based architectural firm Mapos LLC.

"As a truly global brand Citizen Watch Company represents people from throughout the world, so there is no better place than Times Square to share our international brand message," said Toshio Tokura, president and CEO of Citizen Watch Co. Ltd.

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REAL ESTATE

Report: Barnes & Noble plans 300 new college stores

BY Dan Berthiaume

New York – Barnes & Noble Inc. reportedly plans to open about 300 new stores on college and university campuses in the next five years. According to Reuters, Barnes & Noble wants to expand its college bookstore footprint from the current 696 locations to 1,000.

A Barnes & Noble executive was quoted as saying the retailer plans to offer colleges nicer, higher-grossing stores that can generate revenue from the growing textbook rental market. Barnes & Noble also plans to offer apparel and cafes in its new college stores, as well as Clinique cosmetics counters in select locations.

The retailer also plans to bring its count of 30,000-sq.-ft. academic superstores from 35 to 75, and take existing accounts from vertical leader Follet Corp., which operates about 940 college bookstores.

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Coldwater Creek launches closing activities of stores, website

BY Katherine Boccaccio

Boston — Gordon Brothers Group and Hilco Merchant Resources have, effective May 8, launched the total liquidation of Coldwater Creek brick-and-mortar stores and its website.

The joint-venture team is conducting closing sales at all Coldwater Creek stores and online, offering 30% to 50% off all items.

“We thank our many customers and dedicated employees for their tremendous loyalty over the years and are very proud of our associates’ commitment to maintaining our award-winning customer service and positive shopping experience we are known for throughout this transition,” said Jim Bell, CFO, Coldwater Creek.

The Sandpoint, Idaho-based women’s apparel chain will shutter all 365 stores across the U.S. It announced last month that it had filed a Chapter 11 voluntary reorganization petition and would wind-down all operations around the Mother’s Day timeframe.

The move wasn’t a big surprise, as Coldwater Creek had sought a potential buyer in late 2013 and had unsuccessfully tried to secure additional financing to deal with looming debt.

The closures deliver about 2.2 million sq. ft. of space back to the market.

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