Value Retail News: April, 2012

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Value Retail News

April 2012

COVER STORY

Shoppes at Sands
The newest outlet center in the U.S. might not have a big footprint at 130,000 sf, but being attached to a casino with an adjacent concert venue means the project has plenty of drawing power.


FEATURED COVERAGE

Outlet Outlook still rosy
Despite modest changes in the nation’s jobless rate, the aspirational shopper seems to be making a comeback. Award-winning retail analyst Marie Driscoll sizes up for VRN the prospects for four department store chains with clearance units – Neiman Marcus, Macy’s, Saks Fifth Avenue and Nordstrom. She also listens in on earnings calls with six other companies with outlets:

  • Chico’s expects to have 100 to 150 outlets for each of its three brands
  • Fossil says outlets reduce the brands’ off-price exposure
  • Liz likes the effect of freshened Kate Spade specialty stores and plans to do the same with Juicy and Lucky outlets
  • Gap plans to reduce its full-price square-footage but increase its number of outlet stores
  • Polo Factory Stores post strong sales worldwide
  • Croc’s retail division is now outpacing wholesale

Simon’s Hot on Asia
Simon Property Group is busy in Asia, opening Johor Premium Outlets in December, breaking ground on its third Korean outlet center in February and announcing plans for an outlet project in China in March.



TangerStyle’s New Studio
With the newly launched, multi-channel TangerStyle Studio, featuring celebrity muse Vanessa Lachey, the developer adds depth and reach to its consumer marketing.


DEPARTMENTS

Consumer Snapshots
Tablet ads draw mixed responses; liking a product isn’t the same as being loyal to it; experiences matter more than purchases; can you say “Merry Christmas” in Mandarin? be nice to millennials if you want their business; furniture buyers pick practicality over price; Tiffany’s lags in the luxury market.

Development Briefs
Glimcher Realty Trust’s 1.3 million-sf Jersey Gardens in Elizabeth, N.J., has gone live with the largest rooftop system of solar panels in the U.S.; the U.S. Green Building Council (USGBC) recently awarded LEED gold certification to Pyramid Management’s 850,000-sf Destiny USA in Syracuse, N.Y.; Ground work has started in Rosemont, Ill., on the seven-level parking garage that will serve shoppers at Fashion Outlets of Chicago; a totally new JCPenney store, sporting new merchandise, a new pricing strategy, and an entirely remodeled, 106,000-sf interior opened in March at Potomac Mills in Woodbridge, Va.; and leasing updates from Simon Property Group, Tanger Factory Outlet Centers, AWE Talisman, Was Group, Taubman Centers, Glimcher, OVP Management, Howard Group, Prism Company and OTB Destination.