Construction begins on Victory Park in Dallas
Dallas — Redevelopment has begun at Victory Park in Dallas.
The initial phase of redevelopment, scheduled to finish up late this year, aims to improve the pedestrian experience and connect American Airlines Center/Victory Plaza and the southern area of Victory Park.
Improvements will include a raised crosswalk and median on Olive Street that will connect Victory Park Lane and Victory Plaza. A signalized crosswalk to be placed at the intersection of Olive Street and Victory Park Lane will enable pedestrians to cross safely between American Airlines Center and the southern area of Victory Park. On Victory Park Lane, the existing medians and streetlights will be removed and the sidewalks will be widened to accommodate large outdoor patios. Additional raised crosswalks will be added.
Coming phases of redevelopment will add retail, restaurants, entertainment residential and office throughout the area, enhance existing storefronts, graphics and landscaping and improve signage and way finding. North Houston Street and Victory Avenue will convert to two-0way traffic with dedicated bike lanes.
USTXVI Victory Park, a German real estate investment fund, owns Victory Park. Affiliates of Estein & Associates USA manages the fund. Whiting-Turner is the construction manager for the initial phase of redevelopment. Cushman & Wakefield is UST XVI Victory Park’s third-party real estate manager for the development.
The redevelopment initiatives come from a yearlong study, in which Victory Park, working with Dallas officials, enlisted experts from across the country in traffic, parking and retail design to evaluate the district and develop a long term plan for the property.
In May 2012, Victory Park announced a partnership with Trademark Property Co. to plan and execute the repositioning and redevelopment of its retail holdings in the southern district of Victory Park. Trademark is developing and implementing a merchandising and leasing strategy for the ground floor retail. The company has started preleasing efforts and identified key retail and restaurant tenants that meet the strategic plans for the development.
Victory Park currently includes 130,000 sq. ft. of restaurants and retail space, including: Chad Rookstool Salon, Cook Hall, Hard Rock Café, Havana Social Club, House of Blues, Kenichi, Medina, Metro Tickets, Naga Thai, Neo Pizza, The Office of Angela Scott, Perot Museum of Nature & Science, Shooters and Victory Tavern.
Marc Jacobs Beauty unveils e-commerce site
Marc Jacobs Beauty has launched an e-commerce website featuring more than 150 products in the Marc Jacobs Beauty collection, as well as exclusive access to limited-edition product offerings.
The site was developed with responsive design, and showcases a modern, center navigation, high-definition product shots with zoom capability, and true-to-life product swatches.
Users are encouraged to engage in the product ratings and reviews, while checking out content such as the how-to videos and sketches and notes from Jacobs himself, which reveal behind-the-scenes insight into the creative process behind product designs. The site also has shopping capability on desktop, tablet and mobile devices.
To mark the site’s launch, marcjacobsbeauty.com is offering five limited-edition neutral shades of intensely opaque and glossy Enamored Hi-Shine Nail Lacquers for sale.
Kohl’s earnings, revenue miss expectations in Q1
Menomonee Falls, Wis. — Kohl’s Corp. missed Wall Street expectations for profits, revenue and same-store sales during a difficult first quarter. Net income, which had been expected to rise slightly, fell 15% to $125 million, from $147 million.
In addition, net sales declined 3% to $4.07 billion from $4.2 billion, while analysts had expected them to rise to $4.22 billion. Same-store sales, also expected to increase, fell 3.4%.
In February 2014, Kohl’s said it had become over-reliant on private label brands and would seek to rebalance its assortment with more third-party brands.
“We did not achieve our first quarter sales goals, but we were encouraged by the improvement in sales as the quarter progressed,” said Kevin Mansell, chairman, president and CEO. “Our teams managed our inventory levels appropriately and expenses were controlled throughout the organization during the quarter."
Earlier this week, reports surfaced that Mansell is planning a management shake-up.
Kohl’s also extended its current credit card agreement with Capital One for an additional five years until March 31, 2023.