Gatewood Retail News

Gatewood Retail News

Tuscaloosa Entrepreneurs Pitch Downtown Hotel Parking Deck with 400 Spaces

Source:  Tuscaloosa Thread Nov 2nd 2021 Writer:   Stephen Dethrage A group of entrepreneurs, business leaders, engineers and developers pitched the construction of a high-end hotel in downtown Tuscaloosa that could also add 400 parking spaces, three new restaurants and first-class office space to a “blighted, downtrodden” area of the Druid City. In a presentation to the city council’s finance committee Tuesday evening, attorney Bryan Winter shared his vision of what he is preliminarily calling “Project Wow.” “I come today with an opportunity,” Winter said. “An opportunity I don’t think comes along very often — out of all the projects that I’ve worked on with the exception of maybe some industrial things that created an incredible amount of jobs, this is…

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MEMBER PROFILE: ‘TUSCALOOSA HAS BEEN GOOD TO US,’ SAYS ALEX GATEWOOD, OWNER AND FOUNDER OF THE LOCKER ROOM

Source:   Alabama Retailer / November Member Spotlight Writer:   Nancy Dennis November 4, 2021 Alex Gatewood initially came to Tuscaloosa to go to graduate school at The University of Alabama. Instead, he put his marketing and retailing undergraduate degree from Mississippi State University to work immediately. He entered a management training program for Pizitz, one of Alabama’s leading retail department stores at the time. After a year and a half, that experience convinced Alex he had what it took to operate his own retail business. On Nov. 1, 1964, he and a partner opened a 750-square-foot store at 1402 University Blvd. on The Strip in Tuscaloosa called The Locker Room. At the time, Alex was 23 years old. Fifty-seven years later,…

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‘Destination Versus Desperation’: Upscale Convenience Stores are Coming for Prime Retail Locations

Source: BisNow Atlanta Writer: Jarred Schenke When Paul Nair opened the first location of his upscale neighborhood grocer, Savi Provisions, in Atlanta’s Inman Park neighborhood in 2008, he didn’t realize he was on the cutting edge of a trend that has begun to reshape retail markets from the suburbs to prime corners of Manhattan. Savi Provisions, which serves curated wines, high-end cheeses and chef-prepared meals, should open its 25th location next year after expanding to Nashville, Savannah, Durham, Raleigh and Charlotte, Nair said, and his next concept is doubling down on the collision of convenience and craft food and beverage. This month, Nair expects to open the first UPop, which stands for Urban Provisions Offering Petroleum, an Arco gas-served convenience store on Peachtree Road in…

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Hotel Restaurants Get Ready for a Rebound

Source: FSR Writer:  Nicole Duncan October 2021 It’s been a long time since restaurants were a mere afterthought for hotels. As consumer enthusiasm surrounding global flavors and the overall dining experience ballooned, the other side of the hospitality industry recognized a new imperative. Hotels could either step up their on-premises restaurants or relegate foodservice to breakfast buffets and room service. Many chose the former, raising the stakes to such a degree that on-site restaurants are destinations unto themselves. New hotel restaurants are also popping up at a faster-than-normal rate, thanks in part to the pandemic. Last year, everything from construction to grand openings was delayed and now the industry is making up for lost time. Earlier this year, consumers began…

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Biden and Pelosi Set to Impose Tax Hikes on Small Businesses

Source: Americans for Tax Reform Submitted by jkartch on Friday, August 20th, 2021, 12,40 PM [To book an interview on this topic please contact John Kartch at jkartch@atr.org] During his campaign, President Biden promised the American people that he would not raise taxes on small businesses. Now he is violating that promise, and next week House Democrats will vote on the framework to make the tax hikes possible. Biden’s small business tax promise was made on Feb. 20, 2020 before a national audience during a Democratic debate hosted by MSNBC: MSNBC’s Hallie Jackson: “I want to ask you about Latinos owning one out of every four new small businesses in the United States. Many of them have benefited from President Trump’s tax…

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Experts Believe a Retail Property Surge Is Coming Fueled by US Economy With ‘Strongest Growth in a Generation’

(Getty Images)SOURCE: Loopnet Reporter:  Linda Moss The latest forecast for the U.S. retail property market over the next few years is looking bullish, with the industry buoyed by a strong and fast-growing economy, pent-up consumer demand because of the pandemic, and the desire for shoppers to connect with a human. A panel of executives from brokerage JLL presented their first webinar update on retail since the end of last year, when the world was in the grips of COVID-19, in lockdowns and with mandated business closings. Last year there were predictions of a brick-and-mortar “retail Armageddon” because of the pandemic, according to Naveen Jaggi, president of JLL America Retail Advisory Services. It hasn’t turned out that way, he said. “If…

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Krispy Kreme Seeks Roughly $4 Billion Valuation in IPO

FINANCE   JUNE 22, 2021   BEN COLEY   The doughnut chain is offering 26,666,667 shares at a price of $21 to $24 per share. Krispy Kreme hopes to raise between $560 million to $640 million through its IPO, according to an SEC filing. The doughnut chain is offering 26,666,667 shares at a price of $21 to $24 per share. That range implies a valuation of $3.46 billion to $3.96 billion. Underwriters have 30 days to decide whether to purchase up to an additional 4 million shares. The company will use net proceeds from the offering to repay debt, repurchase shares of common stock from certain executives, make payments on tax withholdings relating to certain restricted stock, and for general corporate purposes. Krispy Kreme…

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Survey: Second-hand retail sales will reach $77 billion by 2025

Dan Berthiaume    Senior Editor, Technology   The resale market is expected to double in the next five years. According to the ninth annual “2021 Resale Report” from online resale platform ThredUp Inc. and retail analytics firm GlobalData, secondhand apparel, shoes, and accessories is now a $36 billion market, projected to double in the next five years to $77 billion. Resale is expected to grow 11 times faster than firsthand retail clothing sales over the next five years. In addition, resale sales are expected to be more than twice the size of fast fashion sales by 2030, with two in five resale consumers saying they’re replacing fast fashion purchases with secondhand clothing. In 2020, 33 million consumers bought secondhand apparel for…

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Dick’s Sporting Goods Bets on Experential Retail

Source:  Chain Store Age Writer:  Marianne Wilson Dick’s Sporting Goods is running fast these days. The nation’s largest sporting goods retailer has had a busy few months, adding soccer shops to namesake locations, remodeling Golf Galaxy stores and opening clearance stores. But its most talked-about initiative has been the debut of an experiential retail concept more than two years in the making: Dick’s House of Sport. The new banner made its debut in April, at Eastview Mall, in the Rochester suburb of Victor, New York. The 100,000-sq.-ft. store — the company’s largest to date — — offers customers a hands-on shopping experience. It’s filled with multi-sports activities that customers can participate in, inside and out. “House of Sport is based…

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Half of Americans saw their favorite local store shut down because of pandemic

Source:  Study Finds By: Chris Melore Many shoppers now swearing off big box stores after seeing beloved shops shutter   NEW YORK — Few people have escaped the financial impact of the coronavirus pandemic and that’s especially true for local ‘mom and pop’ shops. A new study finds half of Americans have witnessed their favorite local businesses close down because of COVID-19. A survey of 2,000 people reveals 68 percent personally know a local business owner impacted by the pandemic. According to respondents, the most commonly impacted businesses include cafes (62%), retail shops (58%), gaming shops (55%), and book stores (54%). While a majority of Americans (71%) want to see small businesses in their community thrive, nearly two-thirds (62%) have witnessed…

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