REAL ESTATE

Freshii signs first Philadelphia region lease

BY CSA STAFF

Plymouth Meeting, Pa. Fameco Real Estate, L.P. said Wednesday that Freshii has signed its first area lease for 1,200 sq. ft. at The Residences at the Ritz, in Philadelphia.

The Toronto, Canada-based eaterie, which focuses on organic fast-food alternatives, currently operates 60 stores in 18 cities.

Fameco’s Brandon Famous and Marc Mandel are spearheading Freshii’s store rollout in the Delaware Valley. “The Residences at the Ritz is a great flagship location for Freshii,” said Mandel. “It’s a very prominent location across from City Hall with a solid mix of pedestrian traffic from the office population, to tourists to local residents.”

Freshii expects to roll out as many as 10 new stores in 2011. Stores range in size from 150 sq. ft. to 1,500 sq. ft.

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Here comes the Modern Bride line at JCPenney

BY CSA STAFF

Here comes the Modern Bride line at JCPenney

PLANO, Texas – JCPenney announced that it is partnering with Conde Nast to launch Modern Bride, a new line of bridal accessories, to expand its bridal offerings.

The fine jewelery line will launch in February 2011 in stores and online with merchandise targeted primarily to the 25 to 34 year-old customer. The line will include an expanded assortment of bridal jewelery including engagement rings and wedding bands.

"This collaboration with the experts at Conde Nast will allow us to take our bridal business to the next level, creating an even more comprehensive and distinct destination for brides," said Myron Ullman, III, chairman and chief executive officer of JCPenney. "Conde Nast’s deep understanding of the bridal market and valuable direct connection to potential customers make them the ideal partner, allowing JCPenney to cater to brides who will appreciate the Modern Bride name and continue to shop with JCPenney beyond their wedding day."

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NRF anticipates moderate growth for holiday sales

BY CSA STAFF

NRF anticipates moderate growth for holiday sales

WASHINGTON – One of the world’s largest retail trade associations is projecting that holiday sales will increase by a moderate 2.3% to $447.1 billion.

The National Retail Federation said that while growth remains slightly lower than the 10-year average holiday sales increase of 2.5%, it would be a marked improvement from both last year’s 0.4% uptick and the dismal 3.9% holiday sales decline retailers experienced in 2008.

“While many consumers will be wishing for apparel and electronics this holiday season, retailers are hoping the holidays bring sustainable economic growth,” said NRF president and CEO Matthew Shay. “Though the retail industry is on stronger footing than last year, companies are closely watching key economic indicators like employment and consumer confidence before getting too optimistic that the recession is behind them.”

NRF’s holiday sales forecast is based on an economic model using several indicators, including employment, industrial production, disposable personal income and previous monthly retail sales reports. NRF defines holiday sales as those made in November and December.

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