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March 1, 2013

  Top Story 
  • Open-Air Conference: Small centers in big demand
    This year's Open-Air Conference was held against a background of strong demand for unanchored and grocery-anchored shopping centers. In contrast, few lifestyle developments and enclosed malls are being built in the U.S. at present. "Strip center developments are cheaper to build, easier to entitle and they take a lot less land," John Schupp, senior vice president of retail and project management for Jones Lang LaSalle, recently told SCT. "Plus, neighborhoods are less likely to resist them." SCT Newswire (3/1) Email this Story
  Industry Tracker 
  • South Africa's retail pipeline in growth mode
    South Africa's retail center development pipeline is strong with several projects planned. Centers are planned for such large cities as Port Elizabeth, Midrand, Krugersdorp, Secunda, Cape Town and Pretoria West, as well as smaller cities and rural areas. eProp (South Africa) (2/28) Email this Story
  • Debit card policy in Uzbekistan drives retail center popularity
    Shoppers in the capital city of Uzbekistan, Tashkent, are increasingly embracing the retail center, as opposed to the more traditional bazaar. A number of retail centers have opened there, including the largest, Mega PLANET. One reason for their growing popularity is that many workers get paid with debit cards that can only be used in registered shops. EurasiaNet (2/28)
  Retail News 
  • Sears reports higher-than-expected profits
    Sears Holdings reported a higher-than-anticipated quarterly profit on Thursday, driven largely by cost-cutting measures as same-store sales fell 1.6%. CEO Edward Lampert said the retailer will continue a plan launched in May to boost sales with investments in in-store technology, online retail and the Sears customer-loyalty program. Reuters (2/28) Email this Story
  • Gap media spend turns holiday season from red to black
    Gap reported its best holiday sales season in six years, with same-store sales averaging 5% up for the year. Gap media outlays rose 13%, with measured media spending up from $302 million to $340 million, and the Gap brand in North America getting double the spend, from $21.5 million to $54.5 million last year, per Kantar Media. The media spending "was all about getting the brand back to relevance, getting people to see the incredible equity that is iconic American casual business," CEO Glenn Murphy said. Advertising Age (tiered subscription model) (2/28) Email this Story
  • Fashion's Night Out on hiatus as spending recovers
    Fashion's Night Out this year, a four-year-old annual event launched in September 2009 to encourage consumers to shop, will not be held in 2013, its organizers say. Retailers prefer to focus on other marketing initiatives as consumer spending resumes. The event was the brainchild of Vogue's Anna Wintour and was held around the world on the Thursday following Labor Day. SCT Newswire (2/27) Email this Story
  Finance & Economics 
  • Financial stress sends more consumers to dollar stores
    Family Dollar stores see more emphasis on consumables such as food and cleaning products among their typically low-income or financially stressed patrons, says Chief Financial Officer Mary Winston. Dollar Tree and Family Dollar both grew last year, with Family Dollar opening 475 stores in 2012 and planning 500 more this year. CNBC/Consumer Nation blog (2/28) Email this Story
  Business Best Practices 
  • Are you being naive about your career?
    People who think the formula for success is to show up, work hard and get paid are in for some tough career lessons, Alison Green writes. For instance, your hard work will go unnoticed unless you advocate for yourself. Also, when things are going well, keep in mind that one bad boss can ruin everything, she writes. U.S. News & World Report/On Careers blog (2/27) Email this Story
  News from ICSC 
  • Foundation seeking nominees for Fiala Fellowship
    ICSC is now accepting nominations for the next Fiala Fellow. Launched in 2010, the ICSC Foundation Fiala Fellowship program annually recognizes an outstanding professional 35 or younger who personifies Mary Lou Fiala's passion and commitment to retail real estate, and has the potential to make a lasting contribution to the industry. Fiala Fellowship Candidates are evaluated on the basis of professional excellence and active commitment to helping others through service in their communities, profession or fields of research. Learn more. Email this Story
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  SmartQuote 
The mark of mediocrity is to look for precedent."
--Norman Mailer,
American writer


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