DESIGN/CONSTRUCTION

Report: Big Lots working on ‘fun’ new store design

BY Marianne Wilson

Big Lots is looking to attract shoppers with more than deep discounts.

The retailer is working with Big Red Rooster, Columbus, Ohio, and Alloy, Westerville, Ohio, to develop a store of the future, according to a report in The Columbus Dispatch.

“You have to do something different,” Big Lots president and CEO David Campisi said in the report. “We think there’s an opportunity to create more of a whimsical, fun shopping experience.”

Campisi said the new store design probably will have “meat on the bone” in the middle part of next year, at which point the chain will test it two to three markets, before a rollout.

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FINANCE

Closing time for the Limited?

BY CSA STAFF

As the new year begins, it’s not looking very good for the ailing Limited Stores.

Reports are coming in from around the country of Limited store closings, The Columbus Dispatch reported. In Florida, some stores closed after business hours on Christmas Eve.

Limited has been struggling for some time. In December, owners Sun Capital, pointing to slumping sales and debt pressures, said they would sell or close the apparel chain.

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REAL ESTATE

Millennials will buoy retail in 2017

BY Al Urbanski

Retail real estate expert Faith Hope Consolo, who heads up the retail group at Douglas Elliman Real Estate, has high hopes for 2017, predicting that bigger-spending millennials and recession-proof retailers will keep sales humming on high streets and in malls, if not in department stores.

“Millennials are going to start shopping differently this coming year,” Consolo told Chain Store Age. “It used to be they’d spend up to 75% of their disposable income on food, but that was a fad. This year, they will start spending more on fitness and fashion.”

More retail leases will be snapped up by hot online sellers expanding their reaches and customer experiences, she said, naming Kyliecosmetics.com and Goodamerican.com as two to watch.

Good American promises girls and women a perfect fit in its pricey jeans ($149 and up). The all-bases-covered sizing chart on its website includes leg opening, front rise, and inseam, along with waist and hip. Good American has already tested the waters with availability in selected Nordstroms.

Kardashian clan member Kylie Jenner is the force behind Kylie Cosmetics, which is sure to ride into retail on a tidal wave of social media sharing the brand’s risqué, dripping-lips trademark.

As the shakeout among traditional retailers continues apace, a new class of recession-proof and online-savvy retailers will fill empty storefronts in shopping centers and downtowns, Consolo maintains. One of these is Ulta, which the chairman of retail leasing for Douglas Elliman in New York says in in the midst of a Manhattan invasion.

“They are hand-picking spots on the Upper East Side, Midtown, and Downtown,” Consolo reports.


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