Simon plans $170 million renovation, expansion of Woodbury Common
Indianapolis — Simon Property Group announced that it plans to enhance and expand Woodbury Common Premium Outlets, in Central Valley, N.Y. The $170 million project will include architectural improvements to existing buildings and the development of new retail spaces and facilities, landscape improvements, and the integration of new customer amenities.
With average sales in excess of $1,555 per square foot and annual sales exceeding $1.3 billion, Woodbury Common is regarded as one of the most productive shopping destinations in the world. Built in 1985 with additional retail space added throughout the nineties, the center will be expanding with a net gross leasable area of 60,000 sq. ft., for a total of approximately 240 stores and over 900,000 sq. ft.
The food court will be relocated and renamed Market Hall providing an accessible and architecturally distinct building at the entrance of the center. New retail space will replace the current food court and will feature prominent designer brands. To better serve the large numbers of domestic and international shoppers, including tour groups, a new Welcome Center will be added including new pick-up and drop-off areas for tour buses and public transit bus traffic.
Enhancements to the center will include: new facades and roof renovations of existing buildings; new landscaping throughout the entire property; new hardscape for all walkways and common pedestrian areas; new seating areas and site amenities such as fountains and fireplaces; rehabilitation of all existing restrooms and new restrooms. A New York State-theme will be highlighted throughout the center with the creation of six shopping ‘districts,’ named after well-known regions within the state — Hudson Valley, Adirondacks, Hamptons, Madison Avenue, Saratoga and Niagara – orienting shoppers throughout the property.
Realignment of the center’s roadway system will improve traffic flow into, out of and within the center. A four-level parking structure will provide increased parking availability.
American Eagle Q1 profit down but tops Street; to build new DC
Pittsburgh — American Eagle Outfitters Inc. earned $28 million in its first quarter, down from $39.7 million in the same quarter last year, as cooler weather hurt demand for its spring fashions and some special charges cut into its results. But the retailer still beat market expectations.
In related news, American Eagle Outfitters will invest more than $160 million to construct a new direct-to-consumer distribution center in Hazle Township, Pa.
Total revenue for the quarter ended May 4 was down to $679.5 million from $708.7 million. Same-store sales fell 5%.
“As expected, the first quarter was difficult, but we remained confident in our strategic direction and ability to deliver,” CEO Robert Hanson said on the chain’s quarterly conference call. “Cold weather after last year’s record warmth and soft consumer demand for spring apparel impacted store traffic. Within this context, it was tough to generate growth against the very strong quarter last year.”
Armstrong names Target as 2012 ‘Flooring Recycler of the Year’
New York — Armstrong World Industries names Target as its 2012 Flooring Recycler of the Year, an award that recognizes organizations that make significant environmental contributions by recycling VCT materials during demolition projects, resulting in waste reduction in landfill materials, transportation, and energy.
Target was recognized for its commitment to waste reduction as demonstrated by their efforts to reclaim over 1.2 million pounds of vinyl composition tile (VCT) from multiple stores throughout the United States in 2012. Target began implementing recycling of their vinyl composition tile (VCT) in 2011 under the Armstrong VCT Recycling Program. Most recently, Target recycled over 20,000 pounds of VCT from a store in Las Vegas.
Under the program, installed Armstrong VCT flooring is recycled in a closed-loop, post-consumer stream with reclaimed material incorporated into new flooring products. Since 2009, Armstrong has successfully reclaimed and recycled over four million pounds of post-consumer VCT, representing 2,000 tons of diverted landfill material. Armstrong has regional recycling facilities in California, Illinois, and Mississippi.
“The program’s value is realized by everyone involved, from the customers that remove and recycle VCT during renovations to the manufacturing plant that uses the reclaimed VCT in the creation of new flooring products,” said Amy Costello, Armstrong’s sustainability manager for commercial flooring. “The program has little, if any, adverse impact on demolition schedules, as the process requires the same removal time as traditional methods. Plus the program may be less costly than traditional dumpster, hauling, and landfill fees.”