Results tagged “retail”

The National Retail Federation says that Black Friday weekend sales grew slightly, 0.5% over last year, because shoppers were snatching up bargains. The NRF, which expects holiday spending to fall 1% this year, said, "While retailers are encouraged by the number of Americans who shopped over Black Friday weekend, they know they have their work cut out for them to keep people coming back through Christmas. Shoppers can continue to expect retailers to focus on low prices and bargains through the end of December."

Anecdotal reports suggest that crowds on Black Friday—the day after Thanksgiving—were up compared to last year, but retailers won't know how that translated into sales for another few days. Macy's president and CEO Terry Lundgren told the NY Times that over 5,000 waited outside the Herald Square location yesterday (more than last year) and said this year's customer was going to be more careful, "They've got a budget that they’ve planned to spend and I think most consumers will stick to that. We expect that this will be a market-share holiday season. We don’t need consumers to spend more money. We just need to make them spend more money with us."

Like clockwork, stores hyped up their Black Friday/Doorbuster sales and potential shoppers waited outside for hours, in hopes of getting great deals. A crowd was waiting outside a Jersey City Best Buy; one person told WCBS 2, "There's a lot of people on this line for laptops, like HP laptops for $197. Normally it's $500 or $600," with another possibly bragging that he "was here yesterday since 12 o'clock in the afternoon"—as in noon on Thanksgiving.

Looks like that temporary Walmart in Times Square last year may have been a sign of what’s to come for the city. The Financial Times reported today that the retail giant is finally ready to muscle its way into larger cities, including New York. "We already have in our real estate program a robust plan to go after those [urban markets]," Eduardo Castro Wright, the CEO of Wal-Mart's U.S. stores, told analysts

       

While it may not be opening until the Spring of next year, the Limelight Marketplace invited us over today to take a look at the space as it transforms yet again. Photographer Katie Sokoler reports back that, "although it's just a bunch of mini stores, they don't want to be known as a mini mall! It's a market." The folks there also told her that it would be very family friendly (but no club kids), and "Saturdays it will feel like a carnival because they'll have clowns and mascots walking around." Terrifying!

The people behind the Limelight Marketplace have released renderings of their future mall. They tell us "the storied 163-year-old venue in Manhattan’s Flatiron district is being transformed into a three-story shopper’s paradise." When it opens, expect to see jewelry, organic groceries, candy, art, home decor, a salon and a sneaker shop. Do not expect to see club kids, trannies and cocaine-coated floorboards.

Williamsburg Waterfront, you are growing up so fast! The area, drowned in luxury condos, will soon have its first chain store grand opening! Brownstoner recently spotted the shiny, new Duane Reade, "one of the three businesses signed up for retail space at Northside Piers on Kent Avenue, set to open on Saturday. Word of the ubiquitous drugstore chain's arrival on the Brooklyn waterfront first broke over a year ago; signage confirmed the news back in June." Their first space in the neighborhood is located at North 5th and Kent, a grueling 15 blocks from the closest Chase Bank. Meanwhile, just four blocks away is the current establishment hipsters get their Adderall refilled at, King's Pharmacy. Will their customers remain loyal?

You may not have been invited to sit cross-legged in the front row of Ungaro, but that doesn't mean that you can't put a little fashion in your week.

There may be a recession, but Apple products might be nearly recession-proof. According to Bloomberg News, the company's Fifth Avenue store at 59th Street is the highest grossing store along that ritzy part of the street, which includes Tiffany & Co., Harry Winston, and Abercrombie & Fitch. While Apple doesn't disclose store specific data, given that Apple's overall store revenue has increased by 2.5% and other neighboring stores' company revenue has declined 22-30%, the guess is that the Fifth Avenue Apple store has $350 million in annual sales or $35,000 of sales per square foot (per square foot, Tiffany does less than half). Native New Yorkers and tourists alike flock there, and one analyst explained, "Even if [people] are not spending money elsewhere, people are still spending money on technology gadgets. It’s both a need and a want. It fulfills that retail-therapy component." Apple's retail chief Ron Johnson pointed out that the location is open 24/7: "The middle of the night is a really interesting time. It’s the waiters in the restaurants, it’s the actors on the stage. When they’re off work, they may not want to go off to a club or want to go home." He also confirmed that the Upper West Side location will open later this year.

The Natural Resources Defense Council's New York Urban Program Director Eric Goldstein (that's a mouthful) has gone undercover to see what Manhattan retail stores are blasting their air conditioning with open doors to lure the customer inside. This is illegal, of course, and as Goldstein points out, while "the issue isn't tops on the national environmental agenda... it does serve as something of a symbol of shameless wasting of fossil fuels by some of our fellow citizens."

JC Penney has arrived in Herald Square, leaving locals disaffected and tourists hurling towards a familiar sight. Is Penney's our TGIFriday's of retail? The NY Times reports on the department store's new digs, look and goods with, dare we say, a biting tone that's less becoming than a plethora of polysynthetics. Miss Size 2 reporter guesstimates that 96% of the inventory is made of polyester, and it's nearly impossible to find anything below a size 10. She adds, "it has the most obese mannequins I have ever seen. They probably need special insulin-based epoxy injections just to make their limbs stay on. It’s like a headless wax museum devoted entirely to the cast of Roseanne.” Hopefully there are enough airbrushed magazine covers out there to combat this, lest little girls grow up thinking it's okay to be anything more than a size 2.

Earlier this year Reverend (and mayoral hopeful) Billy Talen told us, "Wal-Mart in New York City? DEVIL GET THEE BEHIND ME! As Mayor, I will take that company to the LAKE OF HELLFIRE!" Since then, the chain has been quiet, leaving one to assume they either got the fear in them, or they're assembling an army for the ultimate showdown. Now Crain's reports that the store is hunting for locations in the city again, this time focusing on all five boroughs. The store's spokesman said, “Now, more than any other time in recent memory, New York City residents want and need better access to our stores... Hopefully we will be able to bring a store to New York in the near future.” Along with Billy, local labor leaders and other elected officials are also against a Wal-Mart moving in, one saying, “The reality remains the same. Wal-Mart is not welcome in New York City, and it should not try to take advantage of these economic times to slither in.” And City Council Speaker Christine Quinn declared, “Until they make actual changes, providing a living wage and ending the practice of preying on small businesses, I will block any attempt to locate in the five boroughs.”

Buyers at 111 Central Park North, what the Post dubs Harlem's "most expensive condo," are unhappy about a McDonald's making it way into the ground floor retail space. The Post reports, "Aghast at the potential grease stench, rodents, loitering and trash, not to mention plummeting property values, some say they would rather chip in and rent or buy the ground-floor space themselves than have the golden arches move in." Condo board president Gary Davis put it bluntly, "There's a stigma to... a luxury building having McDonald's as a retail tenant," and noted that many residents have terraces, "There would be a concern that every time you're out there, you would be kind of overwhelmed by a McDonald's smell or any fried food." The ground floor space's owner Tom Shapiro tells the Post if McDonald's moves in, "he...envision[s] a more upscale version of McDonald's similar to one in a Philippe Starck-designed condo on 23rd Street. That outlet has padded banquette seating, fancy light fixtures and a flat screen TV." Of course, that McDonald's was also derided.

Last year, 51-year-old Cecille Villacorta, an ex-Saks employee, went on trial for charges that, through a unique con, she stole over $1 million from the Manhattan flagship store. She faced up to 7 years in prison for grand larceny, and now the court has finally handed down her sentence: 90 days behind bars, five years’ probation and a $96,000 fine. Though Villacorta reportedly left the courtroom happy, the conviction is being appealed—if it's upheld, she also faces deportation to her native Philippines.

Those fearing a Wal-Mart might be moving to Union Square can breath a sigh of relief...for now. While the shuttered Times Square Virgin Megastore transitions into a Forever 21, WWD is reporting that the Nordstrom folks might be taking over the Virgin Megastore space. The real deal high price Nordstrom department store you've seen in the mall isn't looking to move in, however, it's their discount shop called The Rack that would be unpacking there. A spokeswoman for Nordstrom told WWD, “We looked at Union Square and would like to have a Rack in Manhattan. Nothing is signed yet. We are talking to them.” But word is the lease is "very, very close" to being signed.

If you haven't already taken part, get out there for Record Store Day. Aren't limited edition vinyls with gorgeous artwork so much more personal than downloading an mp3? There are plenty of New York stores participating with special events (here's Other Music's schedule) and other one-day-only offerings (participating stores listed here). The NY Times takes a look at why it's important to support these stores before they go the way of Tower Records, saying that "In Manhattan and Brooklyn at least 80 stores have shut down in the last five years." Yikes! If that doesn't put the fear in you, read Steve Albini's take on today, and why a record store is sort of like a farmers market.

                     

Yesterday Topshop slightly opened up their doors, but today was the big reveal. While you were working hard for your money, other people who don't have to work for money waited in line for hours to get into the first U.S. outpost of British retailer. Kate Moss opened the store, alongside owner Philip Green, and last night the two took a little tour, which included a stop at the racks holding the model's own designs.

Animal lovers everywhere can consider themselves victorious. One small step was made for the anti-fur set, as the Humane Society of the US's president announced that, "JCPenney, with more than 1,000 stores in 49 states, has become fur-free, making it the first multiple location, traditional department store to be fur-free in stores and on its website. The company is currently fur-free and has no plans for fur items in the future." Racked is skeptical however, and thinks that the store's motives "can't be completely golden; we're sure the current economy's effects on both shopper's budgets and store bottom lines played major parts in the decision." Earlier this year the HSUS called out some other NYC department stores for mislabeling their fur products. JCPenney will be opening their Manhattan Mall store this summer, and maybe the PETA strippers will be doing their shopping there.

Future NYU students may be living in a Wal-Mart dorm one day! Okay, that's not quite true (yet!), but The Villager does have some news that isn't going to make many folks very happy, particularly Rev. Billy. The paper is reporting that as two prime storefronts in Union Square depart (Circuit City and possibly the Virgin Megastore), there's talk of some big-box stores moving in. They say a sales associate at a closing store tells them Wal-Mart has been snooping around and might be interested in taking over the space, and the company hasn't denied it either. Interesting. Last we heard from CEO H. Lee Scott Jr. he said, "I don’t care if we are ever here." And last year Rep. Anthony Weiner questioned the value of such a store in NYC. [via NYMag]

     

Check it out, check it out! Red Hook may have lost its iconic Revere Sugar Refinery Dome, but look what the neighborhood is gaining on that mostly-cleared parcel of land adjacent to IKEA: A 376,000 square foot shopping mall with a massive BJ's, the discount big box wholesaler you can find all over the United States of Generica! These renderings leaked to Curbed/Racked reveal the vast breadth of the project (first hinted at last September), which would be the largest retail development in over two decades. If you build it, they will shop?

Guess that new location in the old Tower Records by Lincoln Center didn't work out. After closing 20% of its stores (including 3 in NYC) filing for Chapter 11 last fall, Circuit City has now hired four liquidators to help sell the inventory of its remaining 567 stores nationwide. Acting CEO James A. Marcum said, "We are extremely disappointed by this outcome. The company had been in continuous negotiations regarding a going-concern transaction. Regrettably for the more than 30,000 employees of Circuit City and our loyal customers, we were unable to reach an agreement with our creditors and lenders.” Bloomberg News reports that CC lost market share to Best Buy and Wal-Mart, plus Amazon.com and other online retailers undercut its prices.

In 2006 Tower Records tumbled, only to be followed by rumors in 2007 of New York's Virgin Megastores being the next to close up shop. Originally the Union Square outpost was supposed to be closing by February of 2009, but now it's confirmed that the Times Square one will actually be shutting down first...or as the NY Post put is: "come April, there'll be one less Virgin in Manhattan."

After years of massive expansion, real estate brokers are bracing themselves for a reversal of bank oversaturation. There are as many retail bank branches in Manhattan as there are Starbucks and Dunkin' Donuts combined. Now Washington Mutual has postponed opening new branches (understandably), and other banks are consolidating their branches. One broker predicts that "we might have empty corners without a lot of takers out there chasing the space." But Mitchell Moss, NYU professor of urban planning, tells the Sun, "You will see a new kind of retail venture taking over the space, but it is difficult to predict what that will be — but it won't be clothing. It will have to be something that addresses a necessity." Gazing into the crystal ball, one can just about see the pawn shop where Chase Bank once pushed out the Second Avenue Deli.

It seems like just yesterday that Marty Markowitz was standing there in his Hawaiian shirt, announcing the borough's first Trader Joe's. Now, the Brooklyn Paper reports it will be opening in the landmark Independence Bank building as soon as next week! September 26th, to be exact. "The supermarket will open at 9 am and the festivities will feature giveaways, live music," and of course, more Markowitz. But be warned winos, this location at the corner of Atlantic Avenue and Court Street will not have Two-Buck Chuck, or any wine at all.

Gossip Girl is officially back, with their new season premiering last night. There were British lords, Hamptons parties, people who aren't rich getting looked down upon by people who are rich (as well as other cookie cutter plot devices), and a number of puns involving Chuck Bass's name. Now, to insure an absolute takeover, the show has stepped off the small screen and invaded the windows of Henri Bendel. Racked reports on the 5th Avenue display, noting, "By our count, it looks like the display features two Blairs, one Serena, one Little Jenny Humphrey, and one dark-haired other girl." Give them one more season and they'll be slumming it with their own H&M designs. Bendel's has been one of the many NYC locations used in the show--it was where Dan spied Serena in the very first episode!

A judge approved for Steve & Barry's, the cheap-n-chic retail chain which faced bankruptcy earlier this summer, to be acquired by two investments firms for $163 million. Newsday reports the new group, BHY S&B Holdings LLC, made up of Bay Harbor Management and York Capital (with Steve Shore and Barry Prevor as investors), will "Steve & Barry's merchandise inventories, store leases and all of Steve & Barry's intellectual property rights, including its celebrity and brand licenses." Though Sarah Jessica Parker is still on board, Stephon Marbury claims Steve & Barry's still owes him $2 million in licensing fees--plus more in roylaties--for the Starbury brand. But Newsday points out, "Under the bankruptcy proceedings, the new owners would owe Starbury nothing."

Did you hear that UK retailer Top Shop is coming to town this fall? Before they cross the pond, however, Williamsburg is Dead points out that they have some tips on how to dress for the McCarren Park Pool Parties (where they've temporarily set up shop). Apparently nothing says a sweltering New York summer in a concrete pool like a nice warm woollen beanie!

After finding themselves in bankruptcy last month, Steve & Barry's, the clothing retailer boasting inexpensive designs from Sarah Jessica Parker and Stephon Marbury, announced that an investment company has offered them $163 million. Newsday reports that a subsidiary of Bay Harbor Management, which specializes in "purchasing and revitalizing troubled companies," has made the offer, in exchange for some assets and would want the company to continue to operate. The offer needs to be accepted by bankruptcy court and would establish "a minimum price for other bidders during the auction process." One retail consultant said it would be a "steal." It remains to be seen what will happen with its stores--some would probably be closed.

As reader djmac captured an iPhone 3G-related fight outside a Lexington Avenue AT&T store, the customers who managed to snag the new device were bereft when problems prevented their phones from activating both in the physical stores and on the iTunes store. (Gizmodo has tips for fixing some problems.) Many AT&T stores are reporting they don't have anymore iPhone 3Gs; some remain at the Apple stores.

Yesterday, the Wall Street Journal and NY Times reported that discount retailer Steve & Barry's was facing bankruptcy. The chain had boasted how it took undesirable real estate and survived on very small margins to offer good quality, trendy clothing at low prices. Sarah Jessica Parker's lawyer said his client, who created a line of clothing for the company, was "surprised and disappointed" given how strong S&B's accounting statements were, but the WSJ noted this: "People close to the company’s finances say most of the retailer’s earnings came in the form of one-time so-called tenant improvement payments from landlords of $2 million to $7 million per new store."