Readers Speak Out: Is Fifth Ave. real estate worth the expense?
In the June 9 edition of SiteTalk, we referenced a survey that found Fifth Avenue in Manhattan to be the most expensive place in the world to operate a store — and asked you if it was worth the expense. Here is what one reader had to say.
“It’s no secret that I love my hometown, and that my work here has been very good to me. But I am truly being objective when I say that yes, of course it’s worth it! New York is the financial and de facto capital of the world, and Fifth Avenue is its historical retail core. To locate here is to indicate that you’ve arrived among the great international retailers in the world — after all, your neighbors include Saks Fifth Avenue, Giorgio Armani, Tiffany, Cartier, and Bergdorf Goodman. Is a Fifth Avenue store expensive? Yes. Does it show that you’re successful enough to afford it? Yes. Is the cachet a Fifth Avenue address conveys profitable? Yes, yes yes."
— Faith Hope Consolo
Retail Leasing, Marketing and Sales Division
Prudential Douglas Elliman
New York, N.Y.
O.co CEO named executive of the year
SALT LAKE CITY— O.co, formerly Overstock.com, announced that its CEO, Dr. Patrick Byrne, was named executive of the year at the 2011 American Business Awards. O.co was also named best overall company (up to 2,500 employees).
"This is a great achievement for O.co," Byrne said. "I thank and applaud all my colleagues on this great achievement."
The 2011 American Business Awards attracted a record number of entries, with more than 2,800 entries from organizations of all types and sizes across the U.S.A. These entries were reviewed by 80 professionals in preliminary judging, and their average scores determined the finalists.
Publix makes Knoxville debut
LAKELAND, Fla. — Publix Super Markets announced that it will make its Knoxville, Tenn. debut in in the Northshore Town Center at Northshore Drive and Pellissippi Pkwy.
“We are proud to offer our unique shopping experience to customers in Knoxville,” said Todd Jones, president of Publix Super Markets. “We are committed to providing premier customer service and look forward to supporting the Knoxville community as early as third quarter 2012.”
The 56,000-sq.-ft. Publix will offer conventional items combined with an abundant selection of earth-friendly, all-natural and organic products. In addition to the traditional grocery items the store will feature signature products and services, such as:
A full-service deli department
A bakery department
A full-service meat department
A full-service seafood department
Publix currently operates 30 stores in Tennessee, three of which are in the Chattanooga area and 27 in Middle Tennessee. Additional Knoxville area sites will be identified as they are confirmed.