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July 20, 2012

  Top Story 
  • Hong Kong, New York have world's highest retail rents
    Hong Kong is seen as an international destination for fashion and luxury brands. However, rents are among the highest in the world there, reports CBRE. Top-tier rents averaged $3,864 per square foot in Q1. New York follows, with top tier rents averaging $2,475 per square foot. SCT Newswire (7/18) Email this Story
  Industry Tracker 
  • Retail competition intensifies in Santiago
    Parque Arauco SA, Chile’s largest retail owner, is investing $25 million to renovate an outdoor retail space in Santiago known as Boulevard. The development of Costanera Center by a rival company is becoming more competitive to Parque Arauco and its own retail holdings. The Wall Street Journal (7/18) Email this Story
  • Other News
  Retail News 
  • Retailers anticipate bright back-to-school sales
    U.S. consumers are expected to spend 14% more on back-to-school shopping this year than last, an increase driven by higher enrollments, price increases and parents restocking after cutting their spending last year, according to a new NRF survey. "This is not discretionary, this is really mandatory. Parents are going to do whatever they need to," said NRF President and CEO Matthew Shay. Reuters (7/19), The Wall Street Journal (7/19), SCT Newswire (7/20) Email this Story
  • Forecast: Women to boost apparel spending
    U.S. women are poised to spend 9.2% more on their wardrobes in the third quarter of 2012, according to a new forecast from IBM. "As the economy starts to come back, there is some pent-up demand for women in the clothing area because they haven't been spending on themselves as they have others," said NRF senior vice president Ellen Davis. Chicago Tribune (free registration) (7/17) Email this Story
  • J.C. Penney CEO sees bright brick-and-mortar future
    The best days for brick-and-mortar retail stores are ahead, at least for those that figure out how to adapt to a digital world, said J.C. Penney CEO and former Apple retail chief Ron Johnson. "The store has to offer so much more. It harkens back to what it was like a hundred years ago: it's the products and the experience." CNET (7/18) Email this Story
  • Gap-owned Athleta opens shop in Lululemon's shadow
    Gap's Athleta brand of workout wear for women has been opening brick-and-mortar stores in close proximity to Lululemon stores across the country, undercutting the Canadian chain on price and copying some of its rivals signature moves such as teaming with local yoga teachers, analysts say. Gap paid $150 million to acquire the online brand in 2008; 13 of the 22 stores that have opened since are within a mile of a Lululemon location. Bloomberg (7/17) Email this Story
  Business Best Practices 
  • 8 tips for saving a sinking career
    Having intelligence and ambition aren't enough to get ahead, Steve Tobak writes. He provides eight warning signs your career might be in trouble and what to do about it. For example, being passed over for promotions and raises means you should directly ask the boss what you need to do to improve, he writes. CBS MoneyWatch (7/19) Email this Story
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  Policy Watch 
  • Canada's retailers fight for the right to refuse high-fee cards
    The Canadian Federation of Independent Business is pushing Canada's government to create more flexible rules that would allow merchants to add surcharges or refuse major credit cards that come with high swipe fees. “Merchants have had a 30-per-cent increase in their costs in the last two years because of premium [credit] cards,” said President and CEO Dan Kelly. The Globe and Mail (Toronto) (7/18) Email this Story
  News from ICSC 
  • September 5-6, 2012: ICSC NOI+ Conference, Peabody Orlando
    Sponsored by the International Council of Shopping Centers (ICSC), the NOI+ Conference is ICSC's newest specialty conference. NOI+ will focus on how shopping centers and retail properties can increase Net Operating Income. This conference will offer general and concurrent sessions, a Networking Lounge, roundtables, a reception, optional shopping center tours, and the presentation of the 2012 U.S. MAXI Awards, recognizing excellence in retail real estate. For more information, go to www.icsc.org/2012FC or contact ICSC’s Madison Gross at (646) 728-3461 or mgross@icsc.org. Email this Story
  • September 10 and 11, 2012: VRN Fall Convention
    The 2012 VRN Fall Outlet Marketing and Leasing Convention will be Sept. 10 and 11 at the Sheraton Meadowlands Hotel & Conference Center, East Rutherford, N.J. Retailers may attend for free. The Advance Registration fee for ICSC members is $315. This year’s rich program includes 1 1/2 days of deal making; presentation of the Outlet Retail Chain Awards and Outlet Hall of Fame induction; a networking reception; and developer and retailer panels. ICSC Trustee Vincent A. Corno, Senior Vice President, Real Estate, Saks Incorporated, will speak on the State of Outlet Retail. For more information, go to www.icsc.org/2012FVR or contact ICSC’s Madison Gross at (646) 728-3461 or mgross@icsc.org. Email this Story
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Seek the testimony of few; and number not voices, but weigh them."
--Immanuel Kant,
German philosopher


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