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April 18, 2012

  Top Story 
 
  • Westfield to sell 8 retail centers for $1.15B
    Starwood Capital Group will buy seven retail centers from Westfield Group for $1 billion. The deal represents the majority of $1.15 billion in transactions Westfield is closing. Besides the seven retail assets it is selling to Starwood, Westfield will sell a shopping center to an undisclosed buyer for $147 million. It will use the proceeds to repay debt and make investments. Bloomberg (4/18), The Wall Street Journal (4/17), SCT Newswire (4/18) Email this Story
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  • Simon Property Group pushes into global markets via outlet concept
    Simon Property Group is pushing its footprint globally, with a focus on the outlet concept. The REIT has announced plans to develop an outlet center in Brazil and is also beginning development on the first upscale outlet center in Canada. "Outside the U.S., the outlet sector is still in the earlier stages of development and growth," said John Klein, president of Simon's Premium Outlets division. REIT.com (4/17) Email this Story
  • Sears finalizes $270M sale of 11 stores to GGP
    Sears Holdings has closed its sale of 11 stores to General Growth Properties. The $270 million sale was announced in February. The stores will continue to operate as Sears for two years at most. Closing dates will be announced later in 2012. Chicago Tribune (4/17) Email this Story
  • E-commerce takes center stage at ICSC European Conference
    CEOs speaking at this week's ICSC European Conference said e-commerce can and should work in harmony with brick-and-mortar stores to promote brands. "[B]rands need good environments, good centre management and good urban surroundings. E-commerce rarely yet earns money for most retailers -- the future is multi-channel," said Marcus Wild, CEO of SES Spar European Shopping Centres. SCT Newswire (4/18) Email this Story
  • Cloete: Indian retail centers need to catch up to global best practices
    Indian retail centers have not adopted global best practices, according to Chris Cloete, a South Africa-based retail expert who has developed managerial training courses for the South Africa Council of Shopping Centers. He says Indian retail centers need to focus on better training for sales staff, especially at stores aimed at teenagers. They also need to focus on developing a good mix of tenants. The Hindu Business Line (India) (4/16) Email this Story
  • Other News
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  Retail News 
 
  • Canadian retailers see success with pop-up shops
    Retailers including furniture and clothing seller The Latest Scoop are finding their fortunes with temporary stores that use "planned spontaneity" to turn shopping into an event, says proprietor Deb Nichol. Some use pop-ups to test new concepts, but others like Nichol open stores in the months when consumers are more likely to spend, and close down to avoid high overhead during slower times. Financial Post (Canada) (4/16) Email this Story
  • Retailers continue to create jobs
    Retail hiring may be uneven from month to month, but sales growth tends to spur hiring and a strong first quarter likely means more retail jobs this year, experts say. "There are concerns out there, but on the other hand there’s momentum in hiring and in spending," said NRF chief economist Jack Kleinhenz. Bloomberg (4/17) Email this Story
  • Macy's stars in reality TV special
    Macy's will award $1 million to the fashion, home goods or food entrepreneur who wows judges Tommy Hilfiger, Martha Stewart and Mrcus Samuelsson on "Macy's Million Dollar Makeover." The prime time TLC special, which airs tonight, gives each contestant 24 hours to create a presentation and two minutes to pitch it, in the hopes of winning not only the cash but a chance to sell their products at Macy's stores. MediaPost Communications/Media Daily News (4/17) Email this Story
  • Other News
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  Business Best Practices 
  • Personal habits men should avoid in the workplace
    Men who crack their knuckles, swear too much and dress shabbily can hurt their careers because they send the message they're out-of-touch and uncaring slobs, Anita Bruzzese writes. Women bosses will avoid sending such men to deal with important clients and colleagues will avoid collaborating with them or including them in key projects, she writes. The QuickBase Blog (4/16) Email this Story
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