REAL ESTATE

Coyote and Garrison acquire Chapel Hills Mall

BY CSA STAFF

Colorado Springs, Colo. — Addison, Texas-based Coyote Management L.P. and Garrison Investment Group, through their affiliates, have acquired Chapel Hills Mall, located in Colorado Springs, Colo.

Chapel Hills Mall is a 1.2 million-sq.-ft. enclosed super-regional mall anchored by Dillard’s, J.C. Penney, Macy’s, Sears, Dicks Sporting Goods and Burlington Coat Factory, and features a 15-screen Carmike Cinema and over 100 specialty stores.

The newly acquired property augments existing 3.3 million sq. ft., giving Coyote Management, L.P. a total portfolio of 4.5 million sq. ft. of owned and managed properties.

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FINANCE

MasterCard Spending Pulse: Luxury, jewelry and e-commerce enjoy strong gains in May

BY CSA STAFF

New York City — Luxury, high-end jewelry and e-commerce enjoyed strong growth in May, as did the restaurant category, according to MasterCard Advisors SpendingPulse, which tracks national retail and services sales. Apparel also continued to show gains, the report found, while housing-related sectors such as furniture, electronics and appliances all saw sales decline compared with the same period in 2010.

“Because the late Easter holiday boosted April’s year-over-year comparisons in some sectors, the May growth rates can look flattened by comparison, especially in apparel, luxury, and groceries where the growth rates were only about half what they were in April,” said Michael McNamara, VP research and analysis for MasterCard Advisors SpendingPulse.

At the same time, McNamara added, jewelry had its best year/year rate in 2011, and unlike the mixed results in April, every sub-category of restaurants showed year-over-year growth in May.”

Here are some other findings from the latest MasterCard Advisors SpendingPulse report:

  • E-commerce in May rose 15.9% for the seventh consecutive month of double-digit year-over-year growth and twenty-second straight month in positive territory; U.S. e-commerce was up 15.9% year-over-year. Many e-commerce sectors posted impressive growth, with online apparel sales gaining 19%, higher than the 17.9% growth rate observed in April.
  • Though noticeably smaller than April’s gains, total U.S. apparel sales in May recorded a 5.9% year-over-year increase, its eighteenth consecutive monthly gain. While some of this month’s performance can be attributed to the late Easter holiday boosting April sales, all of apparel’s sub-sectors recorded year-over-year sales growth in May. Family apparel posted modest year-over-year gains of 3.6%, its sixteenth positive out of the last 17 months. At 8.5%, footwear weighed in with its eighteenth consecutive month of positive year-over-year growth, with its May sales dollars being the second highest May dollar value in SpendingPulse history.
  • In its eighth consecutive month of year-over-year gains, the SpendingPulse Luxury Index (excluding jewelry) was up 4.7%, posting more modest results than in the first quarter of the year. The SpendingPulse Luxury category measures luxury sales at high-end restaurants, food stores, department stores and general apparel categories.
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REAL ESTATE

Express to unveil store design created by Japanese design firm

BY CSA STAFF

New York City — Express will officially debut its new store design concept this month, in King of Prussia Mall, King of Prussia, Pa. The format was created by Masamichi Katayama, interior designer and principal of Japanese design firm Wonderwall.

The new environment features design elements of refined chic mixed with unconventional edge and forward-thinking composition to create an individual space with a definite sense of style. The same concept is scheduled to launch at Kenwood Towne Center in Cincinnati, Ohio, also this month.

“The best of what we know and have learned over many years has been put into this new store design concept, which is modern and sophisticated, yet very engaging … much like our brand,” said Michael Weiss, president and CEO, Express. “We are truly excited about the potential of this new store design concept and look forward to measuring the impact it has on our business in the two markets.”

The 13,000-sq.-ft. space features a dual-gender “Denim Lab.” With its oak wood ceiling and suspended trellis in aged timber, polished concrete flooring and outrigger mounted wooden shelves framed by black velvet curtains, The Lab serves as a visual focus for the store.

“I was delighted when Express invited me to create a new design concept. I envisioned a three-dimensional fashion magazine; a source for the new and for the must-have’s,” said Katayama.

The new design brings social media elements to Express’ in-store environment: Using interactive touch screen computer stations, customers can shop online and browse the Express Facebook page and Twitter feed, while mirrored video monitors in the front of store and cashwrap allow for live streaming of Express fashion shows and events.

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