Report: Store Closings Put Real Estate Market at Risk
New York City Store closures and retail bankruptcies continue in regions across the country, however, the social impact of these empty stores could be devastating in the long-term, according to a report by CNNMoney.com.
According to real estate research firm Reis, more stores continue to exit malls, and these vacancies could rise past 7% by year-end, a level that has not been hit since the first quarter of 2001, the report said. These empty stores’ impact on communities is expected to be equally detrimental.
In its most recent forecast, the International Council of Shopping Centers reported that 6,100 chain stores will shutter this year; the highest level since 2004 “as the U.S. recession continues to take its toll on the retail sector and its job market.”
Meanwhile, chains are bracing for more tough times in 2009. Store closings could exceed 3,100 in just the first half of the year, and the number of potential closings could spike even higher when accounting for stores in both public and private sectors, according to the report.
Hannaford to implement Retail Solutions POS service
SUNNYVALE, Calif. Hannaford, which operates 167 stores in the Northeastern United States, will start sharing product point-of-sale (POS) data by store, by day and by SKU using Retail Solutions Demand Signal Management (DSM) solution.
“We look to Retail Solutions to help our suppliers access and leverage our data,” said Scott Craig, director of supply chain services, Hannaford. “Retailer-supplier collaboration is a key strategy for Hannaford and we need a single version of the truth – a rich, up-to-date data set on which to base our decisions. Retail Solutions provides this data foundation at a minimum effort and cost for all parties.”
SuperTarget among healthiest groceries
MINNEAPOLIS Health magazine has chosen SuperTarget as one of the top ten healthiest grocery stores in the United States.
To chose the 10 healthiest stores, Health magazine teamed up with a panel of nutrition experts to review the 35 largest grocery stores on freshness of produce, taste of prepared foods, healthfulness of packaged goods and availability of supplemental nutritional information.
“The recognition by Health magazine acknowledges our commitment to providing SuperTarget guests with healthy, high quality food options at low prices,” says Greg Duppler, senior vp of Target. “Through our certified organic produce department, better-for-you food choices and Archer Farms collection, SuperTarget makes healthy shopping easier for our guests.”