Facilities Management Advisor’s Post

What is the Top-Performing Retail Industry? Read the full article below..

When opening new stores, an indicator worth reviewing is how much of the original opening team remains 6 months / 12 months / 18 months in. #retail #retailtraining #retailtech

Macy’s, the iconic American department store chain, has announced plans to significantly reduce its brick-and-mortar presence in New York City as part of its broader strategy to streamline operations and adapt to evolving consumer trends. The company will close five of its nine NYC locations this year, including stores in Downtown Brooklyn and Queens Center Mall, discount “Backstage” locations in Sheepshead Bay and The Bronx, and a furniture gallery on Staten Island. These closures are part of a larger initiative to shutter 150 underperforming stores nationwide over the next three years, ultimately leaving Macy’s with approximately 350 stores. The impact of these closures will also extend beyond NYC, with stores in the Lake Success Shopping Center in New Hyde Park and Huntington’s Walt Whitman Road location also set to close. However, Macy’s flagship store at Herald Square, a cornerstone of Manhattan retail, will remain unaffected. Tony Spring, Chairman and CEO of Macy’s, emphasized the strategic intent behind these decisions, noting the company’s “Bold New Chapter” strategy. This initiative focuses on reallocating resources to high-performing stores and investing in enhanced product offerings and elevated customer experiences. Macy’s aims to adapt to the challenges of the retail sector, where traditional department stores face stiff competition from discount retailers like Walmart and Target, as well as the rapid growth of online shopping led by Amazon. Following these closures, Macy’s will operate five stores within NYC limits: two in the Bronx, one in Brooklyn, one on Staten Island, and its flagship in Manhattan. The company has already begun announcing going-out-of-business sales for many of the affected locations, with closures expected to start in the first quarter of this year. Macy’s decision reflects the ongoing transformation in the retail landscape, as brands reassess their physical footprints to meet changing consumer expectations. This marks a pivotal moment for the brand as it seeks to balance tradition with innovation. #RetailTransformation #Macy’s #BrickAndMortar #ECommerce #RetailStrategy #NYCRealEstate #ConsumerTrends #ShoppingExperience #BoldNewChapter #DepartmentStores #RetailClosures https://lnkd.in/erBzmdsW

As the retail industry ebbs & flows, 𝐂𝐡𝐚𝐢𝐧 𝐒𝐭𝐨𝐫𝐞 𝐀𝐠𝐞 gives an update on the new stores coming for: • 7 𝐄𝐥𝐞𝐯𝐞𝐧: Looking to build 500 "Food Forward" stores from 2025 to 2027. • 𝐁𝐞𝐝 𝐁𝐚𝐭𝐡 & 𝐁𝐞𝐲𝐨𝐧𝐝: Coming back with physical brick & mortar stores . • 𝐑𝐄𝐈: Announcing their store openings in 2025 & 2026 in WA, CA, CO & NY. • 𝐔𝐋𝐓𝐀 𝐁𝐞𝐚𝐮𝐭𝐲: Planning to expand by 400 more stores over the next few years. And others. So while we are seeing more and more bankruptcies & store closures hitting certain retail categories, others like those above are doing well and are taking advantage of the ever so changing retail landscape. #Retail #RetailExpansions #StoreOpenings #StoreExpansions #7Eleven #BedBathAndBeyond #REI #ULTABeauty #ULTA #ChainStoreAge #CommercialRealEstate #CRE #ROICommercialRealEstate

Drugstore Chains Drive Total Closed Retail Space to 99 Million Square Feet in the US Our "US Store Tracker Extra" monthly series brings you a closer look at the latest store closure and opening announcements across the retail landscape, adding depth to our "Weekly US and UK Store Openings and Closures Tracker" reports. Each month, we break down retailer-specific details, showing closures and openings as a percentage of each retailer’s total store base, their square-footage impact, and whether these changes are happening mostly off-mall or on-mall. Data in this report are: • Year-to-date (YTD) US store closures and openings estimates for 2024, by retailer—total number of store closures/openings and their square-footage impact • US announced store closures and openings: week-by-week data for 2024 versus the comparable period in 2023 • US retail bankruptcies, 2024 vs. 2023 Announced store closures by CVS Health and Walgreens Boots Alliance in October have pushed planned total closed retail space for 2024 to nearly 99 million square feet, according to Coresight Research estimates. Discover US retailers’ latest store closure and opening announcements, as well as the square-footage impacts of these developments. Subscribe to download: https://lnkd.in/dqmsKgM8 #RetailTrends #RealEstate #StoreClosures #ECommerce 

#pinquote Neerav Sejpal, Vice President - Business Development at Spencer's Retail  observes that over the past 15-20 years, shopping centres have experienced notable changes in both their dimensions and category zoning. #quotesdaily #quoteoftheday #retailinsights #marketinsights #quotes #retailnews #retailtrends #retailsector #retailindustry #retailing #retailresults #retailupdates #businessnews #retailgrowth #retailindia #retailsectornews #retailresults #retailtrends #retailbusiness #ir #IndiaRetailing

Looks like everyone in the convenience store industry is giving bigger floor layouts a try. Channel blurring and the spread of regional players is causing brands to reflect and redefine what it means to be a c-store. How are you evolving your retail strategy to stay relevant?

Store closings typically garner the headlines in recent months. Chain Store Age compiled a list of reported planned openings last month and the list is long and extensive. Amongst the retailers making news include Whole Foods Market has opened a smaller format store in NYC Located in the Lenox Hill neighborhood of Manhattan’s Upper East Side, the 9,101-sq.-ft. Whole Foods Market Daily Shop is “designed to bring the freshest, high-quality ingredients to customers with a convenience that fits their fast-paced urban lifestyles,” according to the grocer. Gu opens first U.S. store The lower-priced, more trend-driven sister brand of Japanese apparel giant Uniglo has opened a flagship in New York City as its first store outside of Asia. The two-level store features 10,225 sq. ft. of apparel. L.L.Bean redesigns Maine flagship. The outdoor apparel retailer is revamping its 220,000-sq.-ft. retail campus in Freeport, Maine to provide a more accessible and immersive shopping experience for customers. Major developments include reinstalling the store’s signature trout pond, which will feature multiple tiers, more viewpoints and enhanced accessibility for better fish watching. With the first interest rate cut announced and at least one more pending, it appears as though the trend of expansion will amp up. Getting through the Presidential election and the capital providers being comfortable with who will be sitting in the White House the next four years will help as well. The evolution of retail is operating at a breakneck pace and is far from dead. As noted by this list. #retail #retailnews #retailtrends #cre #expansion #growth #nycrealestate https://lnkd.in/ezxpDjER

Whole Foods Announces Small-Format Store Openings In the “Weekly US and UK Store Openings and Closures Tracker 2024” reports, Coresight Research explores the retail landscape to bring you the latest data and developments on major players’ store footprints. The latest report, for week 29 of 2024 (ended July 19), includes updates from Amazon, New Balance, Stop & Shop, Sheetz, and Whole Foods Market. Data in this research report include: ◾Week-by-week comparisons of announced store closures and openings in the US and the UK—2024 vs. 2023 ◾Major US and UK store closures and openings, 2024 ◾Major US and UK retail bankruptcies—2024 and 2023 Understanding store trends is crucial for making informed strategic decisions and staying ahead of market dynamics—access our latest report to keep up to date: https://lnkd.in/dGFRSfFQ #USretailmarket #UKretailmarket #storecount #expertanalysis

Great article on the fall of the department store. Once a center of the shopping experience for the American consumer, today the department store is a struggling mess fighting for existence in a discounters world. #retail #retailtrends #retailrealestate #consumer