Disney to set up shop in Times Square
Pasadena, Calif. The Disney Store plans to transform part of an expansive retail space in the heart of New York’s Times Square into a state-of-the-art, interactive retail destination set to open in fall 2010.
The store will be located at 1540 Broadway, between 45th and 46th Streets, the former home of Virgin Records, and right next to the incoming Forever 21 flagship. Disney reportedly will use a portion of the first, second and third floors for a total of almost 25,000 sq. ft., according to Crain’s New York.
The location will incorporate technology-advanced displays including an interactive Disney Princess castle to serve as one of many centerpieces at the new Times Square location. An all-new children’s theater will feature the latest Disney entertainment and classic animation. Various children’s activities, special events, and celebrity appearances will also be featured.
“Bringing Disney Store to the center of Times Square is a monumental achievement, and we have created a retail experience that complements the energy and innovation that Times Square inspires,” said Jim Fielding, president of Disney Stores Worldwide. “We’re focused on reinvigorating retail and providing a unique shopping destination to millions of families from all over the world who travel to New York for a magical experience.”
During the next five years, Disney Stores has said it plans to strategically balance its retail portfolio, enter new markets, and transform more than 300 locations across the United States and Europe to its new, interactive design.
MyShape launches new denim line with Cookie Johnson
LOS ANGELES Online retailer MyShape has launched a new denim line by Cookie Johnson.
CJ by Cookie Johnson was launched by Cookie Johnson, wife of NBA superstar Magic Johnson, and partner Michael Glasser, legendary founder of 7 for All Mankind, Citizens of Humanity, and Rich & Skinny. Also on board is top denim designer, Joie Rucker, formerly of Guess, Levi’s and Rich & Skinny.
Johnson said she was inspired to create the line after not being able to find a premium denim jean that fit her curvy figure. “I know MyShape has a great reputation for helping its customers find the right fit, so it seemed like a natural partnership.”
Hope for home in 2010
Okay, the housing market in most parts of the country is still awful, but there are indications that this spring will see improvements in sales of existing homes. That’s good news for Target and its long-suffering home goods category, which benefits from turnover in the housing market as new occupants tend to remodel and refresh existing homes through the purchase of window treatments, rugs, lighting, table top and other decor items.
“We continue to be encouraged by the improvement in the monthly housing data and we have a cautiously optimistic outlook for the housing market in 2010, although soft underlying demand and elevated foreclose activity remain concerns,” according to Citigroup analyst Deborah Weinswig who follows the home improvement retailers and discounters.
One of the most positive indicators is the fact that sales of existing homes spiked 21.2% in October followed by a 42.1% increase in November of last year as buyers took advantage of record low rates and a first time buyer incentive of $8000. With interest rates still low and the first time buyer incentive program extended and broadened to include other buyers expectations are high that sale of existing and new homes will benefit this spring and that is welcome new for Target home good business even if the outlook for the second half of 2010 is less clear and the federal government can’t offer tax incentives indefinitely.