FINANCE

Colliers: Fifth Avenue has highest retail rent, at $3,052 per square foot

BY Marianne Wilson

Seattle — The global retail real estate market rebounded in the first half of the year, with international and luxury brands expanding to new markets and high street properties growing in popularity, according to a new report from Colliers International. Fifth Avenue in Manhattan claimed the highest rent, at $3,052 per square foot, followed by Hong Kong’s Queen’s Road Central ($2,086) and Canton Road, Tsim Sha Tsui ($1,993), London’s Old Bond Street ($1,520) and Manhattan’s Madison Avenue ($1,325).

“We’re seeing luxury brands build a strong presence in sought-after shopping districts like Pitt Street Mall in Sydney and Regent Street in London, while international brands are opening new flagship stores in high-traffic locations," said Solomon Ets-Hokin, chair of retail services at Colliers International. "Many well-recognized brands, such as Apple, Zara, Topshop and Victoria’s Secret, are taking advantage of increased consumer spending, especially among tourists.”

According to Collier’s 2013 Global Retail Highlights Report, popular retail destinations in major U.S. metro areas are seeing big increases in rents. In New York, rents on Fifth Avenue increased by 11% from the previous year. In Las Vegas, rents on the Boulevard increased by 25%. Philadelphia’s Walnut Street had the fastest-rising rent, growing nearly 34% in the past year.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
News

HoneyBaked to serve 10,000 jobs for the holiday

BY CSA STAFF

HoneyBaked is preparing for its annual holiday rush on its signature Honey Baked Hams, Turkey Breasts and full assortment of premium products by providing part-time jobs for thousands of people nationwide.

The company is adding more than 10,000 part-time jobs for the holidays. Many of these seasonal employees return year after year, according to HoneyBaked.

"Company-wide, HoneyBaked anticipates more than 2.5 million customers during the holiday season, from Thanksgiving through the start of the new year," said COO Maggie DeCan. "To continue our tradition of providing the centerpiece for American holiday tables and exceeding customer standards during our busiest season, we are searching for a holiday team that respects, understands and delivers the HoneyBaked core values every day."

According to the company, its products are so popular during November and December that it increases its workforce by 200% every fall. At more than 400 stores nationwide, the additional employees hired for the holiday season support a major operation to prepare and sell HoneyBaked’s wide assortment of products, as well as to ramp up frontline customer service and support.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
News

The Container Store expands its e-commerce horizons

BY CSA STAFF

The Container Store is turning to Borderfree, a leading global e-commerce platform, to help it expand its international e-commerce reach in time for the holiday season.

Previously only accessible to consumers in the U.S. and Canada, the Container Store’s online product offerings are now available to consumers in Australia, India, Mexico, Germany, France, Japan, Switzerland, Russia and the United Kingdom.

“Having the ability to provide our thousands of time- and space-saving solutions to customers around the world has been a dream of ours for many years,” said Melissa Collins, VP of creative and online, the Container Store. “Our biggest priority is to provide customers with an excellent experience whether they are shopping in our stores or online. Working with Borderfree allows us to provide the seamless experience our domestic customers expect to new markets around the world.”

Borderfree’s platform allows retailers to provide an online shopping experience for international consumers that is on par with domestic consumers. In addition to localizing retailers’ websites for international markets, the Borderfree platform addresses customs compliance, fraud and risk management, international payments and parcel fulfillment and returns.

“There is strong demand among international consumers for access to U.S. brands and to compelling products that cannot be found anywhere else,” said Michael DeSimone, CEO, Borderfree. “The Container Store, known for its proprietary organizational solutions and world-class customer experience, fits this mold and we are excited to help smooth the way to meet existing international demand and grow its brand globally.”

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...