Gatewood Retail News
SOURCE: Retail Dive Staff Writer: Daphne Howland Last year was a challenge like no other for the retail industry. COVID-19 upended people’s existence worldwide, threatening human life and undermining the global economy. Job and wage losses took a toll. Even those able to stay healthy and financially secure have faced disruptions to daily life, upsetting work, school and other routines. All of this has had implications for retailers. Specialized retailers and department stores were forced to close for months while grocers and mass merchants were allowed to stay open as essential businesses. But for all of them, supply and demand were undependable last year. Meanwhile, nervous consumers have expected stores to be clean and safe or to offer e-commerce and pickup services…Read More >>
April 20, 2021 (Chicago) – The REALTORS® Land Institute (RLI) and National Association of REALTORS® Research Group have released the results of their latest Land Market Survey. The survey shows that while the COVID-19 pandemic battered the commercial real estate market in 2020, the land market held up to the pandemic’s severe blow, according to survey participants. A 3% increase in land sales contrasts starkly with a 40% drop in commercial sales transactions of properties or portfolios of at least $2.5 million. Land sales prices were also on the rise, with respondents reporting a 2% increase on average in 2020. In contrast, the Green Street Commercial Price Index, an appraisal-based index of the properties held by REITS, indicates that commercial real estate prices…Read More >>
Source: NOLA.com Ian McNulty/ Staff Writer Waiter Vincent Composanto carries a tray of appetizers from the kitchen to guests at Galerie de Galatoire, an expansion of historic Galatoire’s Restaurant, Saturday, May 8, 2021, in the French Quarter. The space is designed as a private dining venue for flexible use. STAFF PHOTO BY SCOTT THRELKELD From its historic main dining room decked in tile and mirrors, Galatoire’s Restaurant connects to its adjacent steakhouse and bar and wends across different upstairs dining areas. Now, it also extends a block away, where a new Galatoire’s experience is taking shape. The Bourbon Street landmark is developing a new restaurant called Galerie de Galatoire, located at 211 Royal St., directly across from the Hotel Monteleone. The doors on Royal Street for Galerie…Read More >>
SOURCE: Hotel and Leisure Advisors Writer: Joe Pierce The once-in-a-century pandemic has caused hoteliers to endure a firestorm that decimated the hotel and leisure industries. The growing COVID-19 cases across the U.S., as well as government restrictions on travel that further stress demand, continue to leave the hotel industry significantly behind pre-pandemic levels in terms of revenues, profitability and valuations. Gateway cities such as New York, Chicago, and Los Angeles are experiencing some of the highest delinquencies in the nation as international travel and tourism in the U.S. remains at a near standstill. Other markets, such as Houston, have been especially hard hit due to the struggles in the oil industry. Nationally, CoStar’s hospitality analytics firm STR reports that 2020…Read More >>
SOURCE: CNBC Lauren Thomas Published: March 18, 2021 KEY POINTS For the first time in years, retailers plan to open more stores than they close. From Ulta Beauty and Sephora, to Dick’s Sporting Goods, Five Below and TJ Maxx, businesses are rebounding from the Covid pandemic and looking to expand. Many businesses see an opportunity to sign shorter leases, which can allow them to experiment with different formats. Year-to-date, retailers in the U.S. have announced 3,199 store openings and 2,548 closures, according to a tracking by Coresight Research. For the first time in years, retailers across the country are planning to open more stores than they are closing. From Ulta Beauty and Sephora, to Dick’s Sporting Goods, Five Below and TJ Maxx, businesses are rebounding the…Read More >>
SOURCE: CNN Writer: Parija Kavilanz New York (CNN Business)As the pandemic drags on, big chains like Target and Nordstrom are looking for ways to keep consumers coming back to their stores. One go-to strategy is the store-within-a-store concept. It’s a way for one retailer to join forces with another by setting up a pop-up shop within their stores. Industry analysts say the approach has benefits for both parties. For instance, department store Kohl’s (KSS) is adding as many as 200 Sephora mini shops inside of its stores in 2021 as a way to expand its beauty and cosmetics category. For Sephora, the deal helps the retailer expand its market to Kohl’s shoppers. Meanwhile, Target is opening mini Apple shops in a handful of its…Read More >>
SOURCE: CNBC / Lauren Thomas reporting Published: March 5, 2021 KEY POINTS Urban Outfitters has offered one of the first signals during the Covid pandemic that women are starting to gravitate toward shopping for dresses again. The retailer’s Anthropologie brand said seven of its top 10 selling items were dresses in the final week of February. Up until that point, it said, it was lucky to see just one or two dresses make the list. But as retailers like Urban, Gap and Nordstrom prepare for customers to return to stores and refresh their wardrobes, they continue to face congested U.S. ports and container shortages, which will make stocking shelves with new items all the more difficult. An employee at Anthropologie…Read More >>
The department’s Census Bureau tracks estimates each month. Retail Dive provides the numbers for key segments, and their year-over-year progress, or decline. [ December sales up 6.7% as shoppers ditch department stores. ] UPDATED: Jan. 19, 2021 REPORTING BY: Daphne Howland, Caroline Jansen DESIGN BY: Nami Sumida Editor’s Note: Comparisons for individual segments are updated each month to reflect the government’s revisions to its year ago figures. A full methodology for how Retail Dive tracks retail sales figures is included at the bottom of this page. Every month, the U.S. Department of Commerce, Census Bureau, releases its first calculation of the previous month’s retail sales. At Retail Dive, we report these figures by grouping the key segments that define “retail”…Read More >>
SOURCE: CNBC By: Lauren Thomas KEY POINTS KKR and other major lenders to Belk are in talks with the department store chain to keep it out of bankruptcy, according to a Wall Street Journal report. The company, its lenders and the private equity firm Sycamore Partners are inching closer toward reaching an out-of-court deal, the report said, citing people familiar with the discussions. A deal is not guaranteed at this point, the Journal report cautioned, but it said Belk’s lenders have noted how the Chapter 11 bankruptcy process has proved difficult for a number of other retail chains during the Covid pandemic. Belk department store John Greim | LightRocket | Getty Images KKR, Blackstone and other major lenders to Belk are in…Read More >>
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