OPERATIONS

Report: NRLB promises quick action on Walmart case

BY Staff Writer

New York — Federal labor officials said Monday they will decide quickly whether to support a request by Wal-Mart Stores Inc. to stop a union-backed group from pushing worker walk-outs at hundreds of stores on Black Friday, the Associated Press reported.

The chain on Thursday filed a complaint with the National Labor Relations Board to stop OUR Walmart, a group made up of current and former Wal-Mart workers, from holding protests at hundreds of stores.

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REAL ESTATE

Report: High demand, limited availability keep Manhattan real estate market strong

BY Marianne Wilson

New York — Average asking rents on Lower Fifth Avenue in Manhattan rose 13% since the spring of 2012 to $1,021 per square foot (psf) and are up 51% since the same period in 2011, according to The Real Estate Board of New York (REBNY’s) Fall 2012 Retail Report. The study revealed continued signs of improvement in the Manhattan retail market, with high demand and limited availability, which significantly drove up asking rents especially in the most prominent shopping corridors

In the Meatpacking District, as defined by the block on 14th Street between 9th and 10th avenues, asking rents rose 25% to $469 psf since spring 2012. The Flatiron shopping corridor along Broadway between 14th and 23rd Streets also had a significant increase in asking rents, with a 27% increase to $273 psf since last spring. Similarly in the Flatiron corridor along Fifth Avenue, asking rents also rose 16% to $350.

“With increased competition for the fewer prime spaces available in key locations, rents in those areas are at all time highs,” said Steven Spinola, REBNY president. “We believe the lack of more prominent spaces on Fifth Avenue between 49th and 59th Streets has led to a softening of the boundaries of this retail corridor. High-profile tenants are willing to consider space immediately south along Fifth Avenue, which has heavy tourist foot traffic. As the retail corridors evolve and grow our economy gets a positive boost and retailers have new options for growth.”

Three other shopping corridors showing growth in ground floor asking rents in this report period were:

  • Broadway and 7th Avenue between 42nd and 47th Streets with asking rents up 31% to $1,833 psf since spring 2012.
  • East 57th Street between 5th Avenue and Park Avenue with asking rents up 28% to $884 psf since the spring.
  • Herald Square corridor as defined by West 34th Street between 5th and 7th Avenues saw rents increase 22% to $683 psf since the spring.
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News

Finish Line relaunches website

BY Staff Writer

Indianapolis — The Finish Line announced the re-launch of Finishline.com with an enhanced focus on the customer.

Finish Line collaborated with several industry innovators on the re-launch. Big Spaceship, a digital agency dedicated to creating connective experiences, products and platforms, and Demandware, a provider of cloud-based commerce solutions, have worked integrally with Finish Line’s digital and IT teams in the research, re-design and implementation of the site.

“We’ve simplified the look and feel for customers, while elevating the interactive experience for our premium brands and products,” said Chris Ladd, executive VP and chief digital officer for Finish Line. “Now when customers land on our site, they’ll see a shopping experience that’s simple, easy to use and puts product and the customer at the center of everything we do. We now have behind-the-scenes technology that provides accessible platforms across an assortment of digital channels from web, to mobile, tablet and in-store.”

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