Justine Griffin/941CEO – When Sarasota’s Southgate Mall lost two of its three anchor stores—Dillard’s and Saks Fifth Avenue—it faced a familiar crossroads in today’s retail landscape: reinvent itself or perish. Reinvention seems to be winning. Today, the center has a new name—Westfield Siesta Key—and more the feel of a community gathering place than a traditional mall. Macy’s […]
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High and Dry: Retailers count the cost of private equity ownership
Steve McLinden/Shopping Centers Today – Retail chains under the ownership of private equity firms are declaring bankruptcy and liquidating at an alarming rate, as the practices of high-leverage borrowing and equity stripping make it harder for vulnerable retailers to turn around. “If you look at the record of private equity in the retail industry, it is […]
Walmart expands grocery delivery service in Florida markets
Malena Carollo/The Tampa Bay Times – Walmart is formally launching its grocery delivery service in Tampa, the company announced Monday, as it expands its delivery test into Orlando and Dallas. Five locations around Tampa are offering delivery for online grocery orders. “Last year, we began testing grocery delivery through crowd-sourced services like Uber,” the company […]
Inside The L.A. Mall That’s Defying The Retail Apocalypse
Sheila Marikar/Fast Company – As malls across the country succumb to declining foot traffic and the lure of online shopping, a development in Los Angeles’s artsy Culver City neighborhood is proving that it’s still possible to draw customers in person—if you design the right experience. Called Platform, the year-and-a-half-old space is a cluster of boutiques, […]
Tyrone Square Mall redevelopment a sign of the times for retail
Justine Griffin/The Tampa Bay Times – The fences are up and the construction has started. The former Sears department store at Tyrone Square Mall, which had been open for nearly 50 years, closed months ago to make room for new development: Tampa Bay’s first Lucky’s Market organic grocery store and a Dick’s Sporting Goods. It’s a […]
At 32 cents a share, how long can Bon-Ton survive?
Jon Harris/The Morning Call – If you have a quarter, nickel and two pennies in your pocket, you have enough to buy a share of Bon-Ton stock — which is why analysts are wondering how long the company can survive. The department store chain’s stock hit a new low Wednesday, closing at about 32 cents a […]
