REAL ESTATE

Report: Store opening plans for 2013 at a four-year high

BY Katherine Boccaccio

Chicago — Store opening plans for 2013 are at a four-year high even as positive retail trends tempered with uncertain fiscal policies signal a cautious start to the new year, according to a report released Monday by Jones Lang LaSalle.

According to Jones Lang LaSalle’s 2013 National Retail Real Estate Outlook, retailers will open as many as 78,325 stores in the next two years – up 11% from year-end plans in 2011. Construction will add 52 million sq. ft. of space in 2013, more than double the 20 million sq. ft. completed in 2012.

Also, relatively stable pricing and pent-up demand for non-durable goods will drive up consumer spending slightly in 2013, but retail real estate performance is unlikely to see dramatic improvements until employment growth accelerates.

“2013 will be a year to separate the wheat from the chaff,” said Greg Maloney, president and CEO, Jones Lang LaSalle’s Americas. “Property subtypes, markets and retailers that are doing well now will continue to strengthen their position, while those that are weak and struggling will stumble along or fail entirely.”

Jones Lang LaSalle’s forecast assumes that lawmakers will act to avert a fiscal and economic collapse, even if only by means of a temporary compromise. Lingering risks to retail sales in 2013 include a potential spike in energy prices, natural disasters, geopolitical instability abroad and structural shifts in buying patterns and online purchasing.

Retail real estate fundamentals, too, are in a tug of war between positive and negative trends that will largely cancel each other out in 2013, leaving overall occupancy and rental rates to stagnate. Some retailers will expand aggressively, but there is a concurrent trend toward smaller store footprints. And as some chains vacate big box spaces or close altogether, off-price department stores and other retailers will seize upon those opportunities to backfill the space, according to JLL.

Consumers will be slightly better off in 2013 and are expected to increase retail spending moderately, barring economic shocks. Households continue to deleverage, core inflation remains low, and another unseasonably mild winter may reduce consumers’ energy costs and boost spending at restaurants and on staple goods like apparel and footwear through mid-year. Weather and disaster-related preparation and repairs may drive some spending, and sales of existing and new homes will increase in 2013, driving purchases of furniture and other goods.

The report revealed the following 2013 retail real estate outlook highlights:

  • Non-durable purchases will outperform throughout 2013 with a marked improvement expected in the second half, reflecting stable core prices (excluding food and energy).
  • More retailers are opening stores-within-anchors: Target has added Apple displays and small shops; J.C. Penney operates mini-stores such as Mango and Sephora and plans hundreds of in-store shops; and Finish Line plans to open 450 stores inside Macy’s.
  • To better compete with online sellers, retailers including Wal-Mart are experimenting with same-day delivery in some markets.
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Apr-17-2013 12:49 pm

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P.Lopez says:
Apr-10-2013 07:35 pm

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Lingering risks to retail sales in 2013 include a potential spike in energy prices, natural disasters, geopolitical instability abroad and structural shifts in buying patterns and online purchasing. Chatrandom

P.Lopez says:
Apr-10-2013 07:35 pm

Lingering risks to retail sales in 2013 include a potential spike in energy prices, natural disasters, geopolitical instability abroad and structural shifts in buying patterns and online purchasing. Chatrandom

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News

Big Lots loss only half as bad as planned

BY CSA STAFF

The addition of 27 new stores wasn’t enough to prevent Big Lots from reporting a 1.9% sales decline during the quarter ended October 27.

The operator of 1,482 closeout stores in the U.S. said sales declined 1.9% to a little more than $1 billion and same store sales dropped 4.6% during the company’s third fiscal quarter. The addition of 27 new stores helped mitigate the comp decline and from a profit standpoint Big Lot’s lost less money than it expected and most of the loss was related to Canada where the company operates 79 Liquidation World stores. The company reported a loss from continuing operations of $6 million, or 10 cents a share, that was well below earlier guidance that called for a loss in the range of 20 cents to 30 cents. Seven cents of the 10 cent loss was attributable to the relatively young Canadian business acquired in July 2011. Last year, Big Lots reported a profit from continuing operations of six cents a share.

With a better than expected third quarter loss, Big Lots updated it full year financial forecast and now envisions income from continuing operations ranging from $2.86 to $3.05. Much of that amount is expected to come during the fourth quarter when income from continuing operations is forecast to be $1.91 to $2.20, despite expectations of a low single digit same store sales decline at U.S. stores.

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STORE SPACES

Top Must-See Stores … New York City Edition

BY Marianne Wilson

From ultra-lux boutiques to fast-fashion emporiums, New York City saw an influx of new stores this past year. Here’s Chain Store Age editor Marianne Wilson’s list of top new must-see stores in the city:

Aritzia: At 13,000-sq.-ft., this is the Canadian on-trend apparel retailer’s largest store in the world. The design, according to the company, revolves around a “metaphysical theme inspired by natural phenomena.” Fittingly, there is an installation of giant mushrooms — hand carved from cherry wood — just inside the entry. One of them is 30 ft. tall, extends from the lower level of the store, and serves as a canopy over the lounge on the upper level. (600 Fifth Ave.)

Burton Snowboard: Burton’s renovated SoHo flagship is a showcase for the brand’s homey New England image. Featured elements include a vintage chairlift, a wood cabin made from reclaimed timbers and a snowboard fabrication press. (106 Spring St.)

C. Wonder: The brand’s second Manhattan location is even more whimsical and colorful than the first. With decor that includes polka-dot horses, multicolored striped zebras and 6-ft. logo teddy bears, the 8,000-sq.-ft. store personifies C. Wonder’s fun, upbeat personality. (Shops at Columbus Circle, 18 Columbus Circle)

Fivestory: Inspired by the Paris concept shop Colette, this is an upscale, one-of-a-kind luxury emporium that sells clothing, accessories and home decor for men, women and kids. The space is sleek and elegant. (18 E. 69th St.)

Lladró:
Spanish porcelain maker Lladró’s new boutique is a study in glass and marble with an all-white palette that is both warm and inviting. The store was designed by designer Jaime Hayon, who was hired by the company in 2006 to oversee and give an updated look to new collections. (500 Madison Ave.)

Melissa: The SoHo outpost (and first U.S. location) of Brazil’s much-loved footwear brand is a sleek, all-white space designed to feel like an ultra-modern, urban cave. The company’s signature plastic shoes (made from recyclable PVC in dozens of colorful shades) are displayed on gallery-like pedestals. (102 Greene St.)

Nike Running: Dedicated to running, the two-level store carries everything and anything needed to pound the pavement. It combines eco-friendly decor with high-tech services, including gait analysis at a digital service station. (156 Fifth Ave.)

Owen: Making its retail debut, Owen offers a carefully edited assortment of up-and-coming brands for stylish men and women. The central element of this 1,800-sq.-ft. Meatpacking District space is a continuous surface made of 25,000 stacked paper bags that arches from floor to ceiling. The honeycomb-like structure makes a dramatic contrast with the existing industrial brick-and-concrete shell. (809 Washington St.)

Piperlime: Gap Inc.’s online retailer goes physical with its first brick-and-mortar location. The 4,000-sq.-ft. store has a clean, modern feel, and offers a curated selection of apparel and accessories. In-store kiosks link directly to Piperlime.com, giving shoppers access to additional product. Orders placed in-store receive free overnight shipping. (121 Wooster St.)

Rookie USA: A new kids-only sports store, Rookie USA is outfitted with an array of fun, high-tech gadgets. Kids can shoot hoops at a virtual basketball court, use interactive touch screens and get basketball tips from a life-sized “virtual” image of New York Knicks player Carmelo Anthony. (808 Columbus Ave.)

Superdry: This two-level, 14,000-sq.-ft. space — the British fast-fashion retailer’s largest U.S. store to date — has a hip, eclectic environment that includes oversized jam jar chandeliers and triple patchwork tables made from reclaimed wood. (729 Seventh Ave.)

Super Trash: The trendy Dutch women’s apparel brand makes its U.S. debut in a loft-like 2,300-sq.-ft. space, complete with a whitewashed brick wall, white sofas and gold-accented white fixtures. (29 Spring St.)

Ted Baker: The quirky British brand’s three-level, 7,000-sq.-ft. flagship is designed to replicate a 1920s-era London townhouse. The men’s wear area recalls a scullery, with rows of butler’s bells on the walls, and pots and pans at the bottom of display racks. (595 Fifth Ave.)

Tommy Bahama: The island-inspired brand’s first store in the Big Apple, it’s also its biggest location so far, with 5,000 sq. ft. of retail and a 1,300-sq.-ft. bar on the first floor, and 6,700-sq.-ft. restaurant on the second. The design emulates the light, airy and relaxed feel of the brand. Paying homage to the city, the facade features louvered screens created from reclaimed wood from New York’s famed Coney Island boardwalk. Don’t miss the 14-ft. fallen elm tree that’s been repurposed as a display fixture. (551 Fifth Ave.)


Click here to see photos of many of the stores listed above.

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duyentran607 says:
Apr-20-2013 11:07 pm

chat random
Burton's renovated SoHo flagship is a showcase for the brand's homey New England image. Featured elements include a vintage chairlift, a wood cabin made from reclaimed timbers and a snowboard fabrication press. chat random

P.Lopez says:
Apr-09-2013 05:56 pm

chatrandom
The store was designed by designer Jaime Hayon, who was hired by the company in 2006 to oversee and give an updated look to new collections. chatrandom

P.Lopez says:
Apr-09-2013 05:56 pm

The store was designed by designer Jaime Hayon, who was hired by the company in 2006 to oversee and give an updated look to new collections. chatrandom

M.Mirevski says:
Mar-10-2013 03:44 pm

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M.Mirevski says:
Mar-10-2013 03:44 pm

The reduction switch in a super scanner is used to minimize sensitivity interference. What are the accessories required in metal detecting?Among the accessories required for metal detecting are gloves, probe, knife, gator digger, and ground cloth. our site Each of these will be explained below. Well low and behold it was like someone had replenished the ground with coins.

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