I love Kohl's. Their products are good and their return policy is even better!!!!!! I am not surprised they are experiencing growth and good news. I think they have been strategic and smart with their expansions. I do think they should have gone into Montrose vs Wadsworth/ Macedonia/ Arlington Rd BUT that is another topic for another day.
According the Wall Street Joournal, Kohl's announced that it is opening nine new stores in seven states, saying the additional outlets would hire about 1,200 employees. The 1,100-store midpriced chain also said it plans to open about 30 more locations later this year.
There is a debatable trend going on, a welcome shift in retail tenant thinking since the recession. Instead of concentrating on getting out of leases, says David Henry, president and CEO of Kimco Realty, retail tenants are considering expansion. That and other changes in fundamentals are giving the sector a significant boost. "With virtually no new development in our sector, rents and occupancy rates are improving dramatically," Henry says.
According to DDR in a recent talk, the whole retail theory of "upward and onward" is a glitch on the radar. It is a temporary high because we as a population were tired of saving.
I see and agree with both. While I admit to HATE saving cashola (who wants to save when you could buy the latest in shoes) but recognize that I don't want to wake up an old woman with nothing. If anyone else is out there with me – we will see retail dip again. BOO!
With all the horrible devastation in Japan I can not imagine how anyone is managing. Retailers across Japan are dealing with the effects of a massive earthquake, a tsunami and ongoing temblors. Several stores announced that they will reduce hours of operation to cooperate with planned power outages. Consumers rushed to gather necessary food, prompting concern about a shortage of bread, bottled water and instant noodles. Japan Retail Fund Investment said three of its shopping malls are no longer operating because of damage sustained during the earthquake.
I found this article funny – it is one of the biggest battles that The Mr and I wage! He hates my grocery store trips and claims I always spend too much at the grocery store. He hates my shopping so much so he has BANNED me from the weekly trip. This has been FINE by me except he doesn't pick up the fresh fruits and veggies………..
Men are heading to the grocery store more often, but women are still handling the big weekly shopping trips, according to data from Nielsen. Women spend more than men spend and still do most of the shopping, but men may be doing more because of their unemployment. "Men have increased trip shares between 2004 and 2010 in all retail channels but drugstores," reported Todd Hale, senior vice president for consumer and shopper insights.
So – Fab or miz – just because you can shop doesn't mean you should! I stamp it MIZ!!!!!!!
Happy St Patty's Day!!! I hope you are all looking for little green men and pots of gold under your buildings! One a total side bar – I have not heard any advertising about the shamrock shake this year?!. Did McDonald's launch it?
On a funny note – The chicken lady's house is for sale in Copley. I know you know which house I am talking about!!!!
I am mortified for anyone looking into it but hope that I am wrong…..
When do you start your "spring cleaning'? I avoid it at all costs. The Mr handles most of the yard – we prefer to do construction in the winter. (Contractors typically have more time) SO -it makes sense that Home Depot is gearing up for the Spring. The Plain Dealer is reporting,
Home Depot will be hiring 900 seasonal, part-time associates here and 60,000 nationwide as it gears up for its busiest selling season — spring. Hiring and training will be done through March.
Spring is a busy time for the home improvement industry and a key hiring season for The Home Depot. Seasonal associates will be assigned responsibilities based on their previous retail or home improvement experience and depending on the needs of individual stores.
I guess with spring around the corner (Thankfully March is only 2 weeks away WOO HOO!) Its time to start deciding what is going to get done this year. OY!
Here is the latest in the retail world – lets see who is movin' and shakin'!
Ultimate Electronics is seeking court permission to close its 46 stores and liquidate. The Thornton, Colo.–based chain filed for Chapter 11 last month.
Panda Express says it plans to open 950 restaurants over the next five years.
Canada’s Tim Hortons and Dubai’s Apparel Group agreed to open 120 restaurants in the Middle East over the next five years.
SCT Weekly reported that, "The U.S. shopping center industry grew at its slowest pace in 40 years last year, as the global crunch continues to hinder construction and retail sales alike. To be sure, growth was visible in both the number of shopping centers and overall gross leasable area, but the increase was a meager 0.2 percent each, year on year — at 106,746 properties and 7.3 billion square feet, respectively, according to ICSC. By comparison, year-on-year shopping center growth was 3 percent in 2006, and gross leasable area increased by nearly as much. Among other trends in evidence is that shopping centers account for 42 percent of the U.S. retail real estate market, according to CoStar Group. Further, many of those shopping centers are taking nonretail tenants, as retailers occupy only 68 percent of the space, with food providers taking up 12 percent, and the rest going to post offices, hospitals and other atypical tenants."
I have to admit I believe this is a good thing. For the past 15 years there has been too much development and growth in the real estate market. There is more supply than demand. Anyone who had ever dreamed about retail threw up a building and as anyone driving around Ohio can tell – there are vacancies in almost every building. Hopefully developers, municipalities, and retailers moving forward put real thought into their sites. It would be nice to experience a location with real long term stability!
May Cupid find you all and recreate the magic between you and your real estate!!!!!!!! (Hopefully Cupid passes on this guy – he seems to have done well on his own)
Filakia!!! (Kisses in Greek)
With all of the turmoil in Cairo, Egypt from the past two weeks -I can't imagine how people and businesses are faring. It can't be easy and I am sure if you owned/ ran a business in downtown Cairo – you would be devastated. I came across this little blurb, it is slightly random but I am sure we will all be seeing lots more articles like it to come!
The Americana Group, which operates Hardee’s restaurants in Egypt, closed all 32 of its units in Cairo this week when riots there damaged several.