Value Retail News: November, 2011

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Value Retail News

November 2011

COVER STORY

Consumer Reports: Outlets worth the trip
"If there was ever a time consumers could use a bargain, this is it" is how Consumer Reports opens its much-anticipated look at outlet shopping. This is the third time the consumer publication has cast its steely eye on outlet shopping, and like both previous reports, this one is positive and accurate.


FEATURES

La Bella Luna
Who needs midnight for outlet madness? As more outlet centers open early on Thanksgiving, the year's biggest shopping event is morphing into Moonlight Madness. A high percentage of outlet center marketers have told VRN that at least some of their centers would open earlier this year - at 9 p.m. or 10 p.m., and some centers will be open all day on Thanksgiving.

Destiny USA's Outlet Tenancy
The 850,000-sf expansion of Pyramid Company's 21-year-old retail complex – Carousel Center – in Syracuse, N.Y., is going to be 40 percent outlet tenancy, which will be bring the entire 2.4 million-sf center up to 11 percent outlet GLA.



DEPARTMENTS

Up Front
Tanger Factory Outlet Centers closed Oct. 3 on the $56 million acquisition of a controlling interest in FSH Associates' The Outlets at Hershey (Pa.); Woodmont Outlets and Taubman Centers are planning to develop outlet centers on sites five minutes apart near downtown St. Louis; two men whose father created The Mills concept are planning to convert a 22-year-old mall in Asheville, N.C., into an outlet center

Snapshots
QR scanners are mainly young, male and rich – a preferred clicking group; wealthy shoppers say they don't plan to cut their spending in the 4th quarter; surprise, surprise, when prices rise, people spend less; age and gender affect ad clicks on Facebook; brand-loyal elderly shoppers don't want anybody rushing them – and they don't want to be called elderly.

VRN Briefs
The 11th annual Woodburn Company Stores Shopping Extravaganza kicks off holiday shopping for a cause; Daniel Corp.'s Outlet Shops at Grand River in Leeds, Ala., held "Shop Pink and Save," a breast cancer fundraising event, throughout October; leasing activity at Tanger Outlet Centers through September was very strong for the developer's portfolio; Was Group, which handles leasing for The Shoppes at Sands in Bethlehem, Pa., has added eight tenants to the new center's line-up; Simon Property Group has been busy leasing its Premium Outlet Centers from coast-to-coast, and The Mills, Horizon Group, Miromar Outlets and Craig Realty Group have been busy with their outlet centers.