The Sky’s the Limit for Nordstrom
The New York press has been all abuzz over the latest news about Nordstrom’s new Manhattan digs – that the West 57th Street space is officially Nordstrom’s.
The news first broke last June that the Seattle-based retailer, after a 20+-year search, had finally settled on a site for its first Manhattan store – in the base of a planned one million-sq.-ft skyscraper on 57th Street, east of Broadway. At the time, Nordstrom had agreed to buy its portion of the building – about 285,000 sq. ft. – with a slated move-in date of 2018.
Earlier this week, the New York Post reported that Nordstrom has paid $102.5 million to own its site at 225 W. 57th St., occupying the first seven floors of an 88-story residential condominium tower that will stretch past even the Empire State Building. The deal was propelled forward when New York real estate developer Gary Barnett (Extell Development) acquired the Beethoven piano building at 223 W. 58th St. for $25 million, securing the final piece to the planned skyscraper’s real estate puzzle.
According to the Post, that $100 million from Nordstrom – a down payment on what is said to be about a $300 million deal – will allow Barnett to launch development on the skyscraper; the plan is in design and has not been approved by the NYC buildings department.
The new Nordstrom will feature 175,000 sq. ft. of floor space, and is considered a really big deal among retail and real estate circles. A new department store in Manhattan is a rarity – and, if Nordstrom can continue its elevated service levels in the world’s biggest retail arena, the sky’s the limit. I, for one, will be watching the progress of this new store with great interest.
Hershey deploys strategy for global growth
HERSHEY, Pa. — The Hershey Company has selected Universal McCann to handle its global media planning and buying activities.
Hershey’s global media assignment includes all paid media, including TV, print, digital and Hispanic for the U.S. business — the company’s largest — as well as Hershey’s growing international businesses.
The move is a result of the company’s governance policy of periodically assessing strategic supplier contracts to ensure effective and efficient service. And the timing was right for the company, which was ready to focus on global growth.
The company selected the agency based on a qualitative and quantitative analysis of the participating agencies, including capabilities in the U. S. and key international markets. Hershey’s appointment of Universal McCann succeeds incumbent agency OMD.
“After a comprehensive review, Universal McCann will be a strong partner for the Hershey Company and our portfolio of iconic brands,” said Denis Sison, VP, global marketing excellence and equity. “OMD has been a valuable partner to Hershey throughout the years. We would like to sincerely thank them for their work and dedication.”
The account transition to Universal McCann will begin Sept. 1.
Headquartered in Hershey, Pa., the Hershey Company has operations throughout the world and approximately 14,000 employees. It offers confectionery products under more than 80 brand names, including Hershey’s, Reese’s, Hershey’s Kisses, Hershey’s Bliss, Hershey’s Special Dark, Kit Kat, Twizzlers, Jolly Rancher and Ice Breakers.
The company is focused on growing its presence in key international markets such as China, Mexico and Brazil while continuing to build its competitive advantage in the United States and Canada.
Snyder’s-Lance strengthens its national distribution network
CHARLOTTE, N.C. — Snyder’s-Lance has acquired all assets of Stateline Service Corporation, a snack food distributor in Massachusetts, as part of its growth initiative.
"We’re excited to expand our direct store delivery distribution network through this acquisition," said Ed Good, president of S-L Distribution Company, a subsidiary of Snyder’s-Lance, Inc. "Through closer working relationships with key retailers, we expect to build on the successful business that Stateline has developed in this important geographic area. We see an opportunity to expand our DSD network, enhance service to retail customers and develop long term opportunities for our independent business owners in the region."
Stateline operates a DSD distribution system and distributes Snyder’s-Lance Inc.’s branded products as well as several additional partner-brand product lines. The Stateline routes will be integrated with the company’s extensive DSD network, providing a number of benefits including the ability to better service retail partners with the company’s branded products while leveraging supply chain and other efficiencies. The purchase price was not disclosed.
Snyder’s-Lance, headquartered in Charlotte, N.C., manufactures and markets snack foods throughout the United States and internationally. The company’s products include pretzels, sandwich crackers, pretzel crackers, potato chips, cookies, tortilla chips, restaurant style crackers and nuts. Snyder’s-Lance has manufacturing facilities in North Carolina, Pennsylvania, Iowa, Indiana, Georgia, Arizona, Massachusetts, Florida and Ohio as well as in Ontario, Canada. Products are sold under the Snyder’s of Hanover, Lance, Cape Cod, Pretzel Crisps, Krunchers!, Tom’s, Archway, Jays, Stella D’oro, Eatsmart, O-Ke-Doke, and Padrinos brand names along with a number of private label and third party brands. Products are distributed nationally through grocery and mass merchandisers, convenience stores, club stores, food service outlets and other channels.