Borders Is Bordering On Disaster
October 22, 2010
A recent article in the local Chicago business section announced that the Borders store on the corner of Michigan Ave. & Pearson ( one of the highest trafficked corners on the Miracle Mile and directly across from Water Tower), is leaving and being replaced by a new soft goods retailer.
A Few New Discount Stores Do Not Signal the End of the Recession
October 19, 2010
The Recession is Over: Department Stores Expand again | www.bnet.com
While I realize that all bloggers are not created equal and most GLG clients do not have the time or inclination to pay attention to most blogs, this Carol Tice blog is particularly misleading and spectacularly wrong. Ms. Tice shows her lack of understanding about the retail real estate industry in several important ways and I think the GLG News reader deserves to be warned about this kind of yellow journalism.
October 6, 2010
Tesco Signals It Will Push Ahead In U.S. | online.wsj.com
This recent article in the WSJ talks about how much money Tesco continues to lose in the three western states they have invaded and how they are preparing to expand from 160 stores to 300 or 400 stores within the next two years.
Some Interesting Buy-Out Targets
October 2, 2010
Private equity is coming back into the market and rumor has it that there is a lot of interest in the Retail Sector. The Street recently spent some time speculating about 8 or 9 possibilities that I think are worth bringing to the attention of the GLG reader.
Sears To Add A Toy Department this Christmas! What a Brilliant Idea!
September 24, 2010
I just read where Sears will add toy departments to 85 of their stores this Christmas. Apparently Mr. Lampert has just discovered that toys sell well during the Christmas season. I also just saw that the SHLD stock has risen from the low 60s to the low 70s. I guess the Lampert followers have expectations that are easily met by reverting to following every other retailer in America.
Restoration Hardware Has Not Been Restored
September 23, 2010
Restoration Hardware plans 2011 IPO | www.reuters.com
Restoration Hardware is reportedly planning a 2011 IPO. They plan to raise between $100 & $300 million. Before Catterton Partners and Restoration's CEO Gary Friedman took them private in 2008 for approximately a total company value of $175 million, they had lost money in 7 of their last 9 years. In 2007 they had lost $51.9 million in what most furniture retailers say was the last of the "good years". Restoration had tried and failed to go private in 2007 at a total price of $267 million.
Retail Malls------A Misnomer---Shame on GLG
September 22, 2010
When GLG asked for one of its' experts to write an article on "Retail Malls", I felt obliged to respond. By now GLG should understand that there is no such thing as a "Retail Mall"! There are Strip Shopping Centers, Regional Malls and all types of collections of retail stores with various names that change from time to time. There simply is no such thing as a RETAIL MALL.
Vornado Stubed Their Toe on the Merchandise Mart
September 9, 2010
Kennedy's Merchandise Mart in play as N.Y. parent streamlines portfolio | www.chicagobusiness.com
This article in Crain's brought back some old memories for me and sadly, with the lack of profitability of the former Sears Tower, (now Willis Tower), Chicago's two largest and iconic buildings have lost their lustra.
Sears To Become A Fashion Merchant????
September 9, 2010
Wal-Mart Investors Wondering | www.chicagotribune.com
A recent article in the Chicago Tribune detailing yet another desperate move by Eddie Lampert , is worth bringing to the attention of the GLG News readers. The article talks about an upcoming test of 200 Sears stores that will be outfitted with new store fixtures and a selection of upscale, fashionable merchandise in an attempt to compete with the likes of Forever 21,H&M, Zara, Target and Kohl's.
Another Example of Old Things Becomming New Again
September 9, 2010
Retail Reits- Trouble Ahead | www.thestreet.com
An article about the growing difficulties facing both Mall and Strip Center REITs .
February 6, 2012
Las Vegas real estate: A happy new year?
January 20, 2012
Commercial property sales plunge in New York City: Why should everyone care?
January 19, 2012
Are Macy's closures a leading indicator of mall REIT values?
January 18, 2012
Ireland's commercial property outlook
January 9, 2012