John Harris/The Morning Call – To close or not to close? That is the question for retailers this Thanksgiving. Over the last couple of years, it wasn’t much of a dilemma at all. Retailers started their Black Friday sales earlier and introduced us to a new shopping holiday that quickly became known as Gray Thursday. After all, brick-and-mortar […]
Archives for 2016
For Sears and Kmart, it just gets worse
Suzette Parmley/The Philadelphia Inquirer – And now, Kmart. The troubled retailer announced this week that it was closing 64 stores nationally. Liquidations began Thursday. While only one store will be affected in the Pennsylvania/New Jersey/Delaware region – in far-off Mifflin County, Pa. – the news is more of the same for struggling retailers amid online shopping’s […]
Now Trending: Is it closing time?
I’ve been thinking quite a bit lately about an article I read earlier this summer, a piece by Krystina Gustafson that appeared on cnbc.com entitled, “For retailers, closing stores isn’t as easy as it once was.” The article points out that, despite the fact that “investors are demanding it” and “industry analysts are pushing for it,” and […]
PREIT on the hunt to replace Macy’s at three regional malls
Suzette Parmley/The Philadelphia Inquirer – Pennsylvania Real Estate Investment Trust, which owns several malls in the region, is fishing for “replacement tenants” for its Macy’s stores at Plymouth Meeting, Moorestown, and Altoona malls. A list being circulated among top commercial real estate firms has these three stores listed, according to brokers. A PREIT representative did not […]
Macy’s to reveal store to close in January
Jon Harris/The Morning Call – While Macy’s still plans to close 100 of its stores, the struggling retailer’s downsizing will not affect the Christmas shopping you plan to do at any of the department store chain’s locations. That’s because Macy’s won’t reveal the stores that will close until after Santa has left that polo, blazer or […]
The Next Big Challenge
Gail Kalinoski/Commercial Property Executive – That’s where mixed-use projects will fall in. “Our malls are too big. However, the malls are typically on great pieces of real estate,” said Jeff Green, retail industry consultant and principal of Jeff Green Partners. He said owners are “ finally waking up” to non-retail and mixed uses and beginning to redevelop their properties to include multifamily and/or hotels. […]
