Recovery was the rallying cry for the retail industry in 2010. After two years of very weak sales as consumers reined in spending during the Great Recession, retail purchases rose for the fifth straight month in November. “It was the return of the retail industry,” said Michael Niemira, chief economist for the International Council of […]
Macy’s is closing its Chestnut Hill store as part of what the company calls an annual review process that selectively prunes underperforming locations. The store, which opened in a former Bloomingdale’s location at the Chestnut Hill Shopping Center in 2007, will start a final clearance sale on Sunday that will run for about 10 weeks. […]
Retailers in New York gave the holiday shopping season an “A” grade as consumers came out in force, breaking a two-year-long streak of weak sales during the recession, according to a new survey. Eighty-four percent of retailers polled by the Retail Council of New York State said sales the week before Christmas were better than […]
At least one official booster of the Fort Point Channel neighborhood near downtown Boston says times there are good. Friends of the Fort Point Channel says in a report this week that new restaurants and retail establishments along the channel, including on the South Boston Waterfront, have “thrived.” One restaurateur, Papagayo owner Brad Delbeck, says […]
LOUISVILLE, Ky. (AP) — Pizza company Papa John’s International Inc. on Tuesday said it expects net income of $2 to $2.12 per share in 2011. Analysts surveyed by Thomson Reuters, on average, expect net income of $2.03 per share. The guidance is a 16 percent increase from the $1.74 to $1.80 per share that it […]
Investors searching for distressed big-box deals are facing competition from an unlikely source—retailers. Large tenants including Wal-Mart, Target, Kohls Department Stores and others have become aggressive bidders in the market for vacant big boxes. The retailers are buying distressed space from owners or banks, often at prices that are 20 percent to 30 percent […]
When it comes to creating long-term growth plans for a restaurant chain, sometimes the wisest course is to concentrate on the short term, according to John Pepper, CEO of Boloco, an up-and-coming fast casual concept based out of Boston. Boloco started as a school project Pepper and a few friends undertook in the course of […]
The retail real estate industry will face another slow growth year in 2011, though the pace of store openings will gradually improve throughout the coming months, industry insiders predict. Given the current brisk pace of holiday sales and availability of vacant storefronts at affordable rents, retailers with cash in their coffers will step up […]
LEXINGTON and MEDFORD, Mass.—Bierbrier Development Inc., a developer and owner of shopping centers in Eastern Massachusetts, today announced it has renewed a 5,000-square-foot retail lease with Men’s Wearhouse at Wellington Circle Plaza in Medford, Mass. Men’s Wearhouse is one of North America’s largest specialty retailers of men’s apparel with 1,239 stores. Casey Piche, Vice President […]
ARLINGTON, MA—Officials from Bierbrier Development Inc., a developer and owner of urban shopping centers in Eastern Massachusetts, joined representatives from the town of Arlington, local business leaders and tenants to celebrate the grand opening of the 9,000-square-foot addition to the existing Arlington Village Shops shopping center in Arlington, MA. “We’re very excited to have not […]
