Value Retail News: August, 2011

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Value Retail News

August 2011

COVER STORY

Planned Outlet Projects
Considering how few outlet centers open every year, the industry doesn't appear to be in danger of becoming saturated in the near future. Nevertheless, the most recent spate of planned projects has 30 developers hoping to open 46 centers totaling more than 17.5 million sf.

Outlet Site Fights
Outlet development has always had site fights, but not any quite like the industry is now seeing with multiple developers going after the same market. In all, 18 developers are planning 24 centers in eight highly competitive markets.


FEATURED COVERAGE

RECon RECap
The outlet industry was the flavor of the month at ICSC's RECon in May and VRN was on the scene, reporting on more than 60 companies involved in outlet retailing. Outlet session panelists discussed the importance of made-for-outlet inventory and brand management, the difficulty of converting a traditional center to outlet tenancy, and the issues of cross-over shoppers and retail sensitivity.

Pig N Whistle Fun
17th annual Pig N Whistle Barbecue saw fair skies, great food and gift bags. Sponsors were AWE Talisman, EWB, Fashion Retail Group, Federal Realty, Outlets at Hershey, Power Square, Pyramid Cos., Rockvale Outlets, Sands Casino, Simkin Group, Simon Property Group, Tanger Outlets, TH Retail Consultants, VF Outlet, Victory Signs and The Was Group.



DEPARTMENTS

Up Front
Horizon Group and CBL will open Outlet Shoppes at Oklahoma City on Aug. 4; Sawgrass Mills is expanding the Colonnade and redeveloping Wannado City's space; VF Corp. agrees to acquire Timberland for $2 billion; Tanger Centers acquires Prime Outlets at Jeffersonville and announces a JV with Simon for an outlet center south of Houston.

Snapshots
A study says most people think every brand name should have a shopping app; most loyalty-card holders don't understand why they have the cards; older people who shop daily live longer than their thrifty counterparts; Nielsen says men are shopping more and women are watching more TV.

Development Briefs
Tanger Centers celebrated its 30th anniversary with a dessert party at the NYSE on May 12; Miromar Outlets won an award for business development in Florida; Opry Mills, closed since May 2010, will reopen in March 2012; leasing activity is robust for Tanger, Simon, Craig and other outlet center developers.