Holiday Sales Will Peak Dec. 23, MasterCard Says
St. Louis, At what hour will retail’s holiday season peak? According to MasterCard International, it will probably be between 2 p.m. and 3 p.m. (CST) on Christmas Eve. The busiest day? That will be the day before, Dec. 23.
MasterCard made the predictions based on its transaction data from the past several holiday seasons. The credit-card company said that the busiest days of the holiday season will be Saturdays in December.
MasterCard recommended that consumers looking to beat the holiday rush do their shopping on Mondays, Tuesdays and Wednesdays, especially between 7 a.m. and 10 a.m., when transaction volume is the lightest.
CBL Acquires Malls in Texas, Missouri
Chattanooga, Tenn., CBL & Associates Properties, Inc. is spending $249.4 million to acquire Mall Del Norte in Laredo, Texas, and Northpark Mall in Joplin, Mo. At just under 1.2 million sq. ft., Mall Del Norte is currently 88% occupied and features Dillard’s, Foley’s, J.C. Penney, Mervyn’s and Sears as anchor tenants. Northpark Mall, which totals 991,100 sq. ft. and is currently 77% occupied, is anchored by Famous Barr, J.C. Penney, Sears and Hollywood Theaters.
New York Toy Story Will Unwrap on Thanksgiving
New York City, FAO Schwarz is unveiling its redesigned flagship store on Fifth Avenue at 58th Street in New York. City. The store is scheduled to open its doors at 10 a.m. on Thanksgiving Day, Nov. 25. Its launch follows the Oct. 22 reopening of FAO Schwarz’s Las Vegas store, located within The Forum Shops at Caesars Palace.
“We are building on the store’s 142-year legacy, preserving the tradition of exceptional quality and service that has always defined FAO Schwarz while enhancing the store experience for a new generation,” said Jerry Welch, FAO Schwarz’s CEO. “At the same time, our new Web site and the FAO Schwarz catalog give us additional channels to reach customers across the globe.”
The store, which was redesigned in collaboration with the Rockwell Group, features a breathtaking Grand Hall adorned with more than 20,000 computer-controlled colored lights, a giant dance-on piano keyboard, and “FAO Schweetz,” a classic New York ice-cream parlor serving desserts.
FAO Schwarz was founded by Frederick August Otto Schwarz, who opened his first store in Baltimore in 1862 and relocated to lower Manhattan in 1870. The New York City flagship store moved to its current location in 1986.