STORE SPACES

NRDC to add solar panels to three New Jersey shopping centers

BY CSA STAFF

Purchase, N.Y. National Realty & Development Corp. said Tuesday it plans to add solar panels to the roofs of three New Jersey shopping centers, a significant step toward reducing energy consumption and lower operating costs for their tenants, the shopping center owner and developer said.

NRDC has entered into a purchase agreement with Solaire Energy Systems, a San Diego, Calif.-based developer of clean energy.

Walmart Plaza in Clinton, N.J., Kohl’s Plaza in Holmdel, N.J., and CooperTowne Center in Somerdale, N.J., will receive these new upgrades the first part of 2011.

“National Realty & Development strives to be at the forefront with its sustainable building practices and is excited about our plans to use this renewable energy,” said John Orrico, president of NRDC. “The addition of solar energy will prove to be beneficial to our tenants and the community in which these shopping centers operate. Tenants will see a reduction in utility costs and a beneficial impact on the environment.”

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FINANCE

Survey: Holiday sales to hit $519 billion; strongest growth will be in electronics

BY CSA STAFF

New York City — Holiday retail sales will grow by a strong 4.5% [+/- 0.5%] year-over-year to a record $519 billion, according to retail consulting and research firm Customer Growth Partners, New Canaan, Conn.

“Consumers have endured over two years of economic body blows, but have been slowly picking themselves off the mat since last year, despite the employment woes,” said Craig Johnson, president Consumer Growth Partners (CPG). “The 83% of Americans with full-time jobs are beginning to spend again, and they will drive retailers to the best year-over-over holiday sales growth since 2005.”

CGP’s 4.5% forecast for the November-December holiday shopping season is above consensus estimates of 2% to 3% growth (National Retail Federation has forecast growth of 2.3%). The CGP forecast includes direct-to-consumer sales, primarily e-commerce sales, which are excluded in NRF’s forecast. Direct sales have been the fastest growing segment of retail since the 1990’s, and in 2009 represented some 10% of total holiday sales.

  • Among merchandise categories, the strongest growth will come in electronics and appliances, up some 6%, led primarily by e-reader, iPad and mobile phone growth — and secondarily by major appliances, which will exceed their surprise performance at last year’s Black Friday sales.
  • Pent-up demand will drive home-related categories to their strongest growth in half a decade, over 5%, including both home-furnishings and home-improvement retailers.
  • Discount and other value retailers will continue to shine in holiday 2010, led by off-price retailers such as TJX and Ross Stores, low-priced “fast fashionistas” such as Forever 21 H&M and Love Culture, and big boxers such as Costco and an outperforming Target.
  • Sweaters will remain the single most common holiday gift — and may well see a sharp increase as consumers stock up before near Civil War record cotton prices work their way through the supply chain early next year.
  • Traditional holiday retail categories will enjoy a stellar year, including luxury segments such as jewelry, and toys, where expanded distribution — e.g. Toys “R” Us’ pop-up stores — and strong competition from Walmart and Target will drive sales.
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FINANCE

Subway opens 500 locations in third quarter

BY CSA STAFF

New York City — Subway announced that it opened 500 new locations in third quarter 2010, or from July 1 to Sept. 30. The chain said its franchisees opened units in 45 counties, 42 U.S. states, the District of Columbia, and four Canadian provinces.

Highlights for the period include reaching more than 33,500 locations worldwide, of which 9,900 can be found in international markets. Of special note is the milestone of 1,100 restaurants reached by the McLean, Va.-Subway Development Corp. of Washington, the company that oversees the chain’s single largest development territory, which includes all of Virginia and Delaware, Washington, D.C., and most of Maryland.

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