Expanding the Macy's retail experience, introducing Bloomie's. 🛍️ Macy's is set to revolutionize retail in underserved areas across the U.S. with its innovative concept, Bloomie's. This initiative seeks to bridge the retail gap by introducing 42 new Bloomie's locations by 2025. These stores, ranging from 30,000 to 50,000 square feet, will be approximately a fifth the size of a traditional Macy's department store. This strategic move not only enhances accessibility for consumers in these regions but also aligns with Macy's commitment to adapt and evolve in the changing retail landscape. ⭐️ For retail to thrive and be utilized, retailers must adapt. What other retail trends do you predict? Need CRE support from experts in East Tennessee? ➡️ Embrace the opportunity to collaborate with our skilled professionals by reaching out via LinkedIn or sending an email to mkoella@koellamoore.com. --- Forbes NAI Global NAI Koella | RM Moore | #CRE #commercialrealestate #tennessee #easterntennessee #CREbrokerage #investment #knoxville #easttennessee #propertymanagement #realestate #advisors #TN #experts #NAIKoellaRMMoore
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Macy’s Inc. has a new turnaround strategy that excited Wall Street, but the department store is recycling an old turnaround strategy that smacks of desperation to keep the idea of the American middle class — and upward mobility — alive, writes Leticia Miranda for Bloomberg Opinion. Over the last half a century, the middle class has tumbled and taken Macy’s down with it. Decades of fiscal policy, recessions and inflation all combined to hollow out middle America. Middle-class incomes have grown at a slower pace than higher-income households, resulting in a wider wealth gap. At the same time, consumer trends splintered along economic lines. Pinched shoppers shifted their spending to off-price stores such as T.J. Maxx, while well-off ones went higher up the value chain toward luxury brands. #retail #shopping #middleclass #money #economy https://lnkd.in/dNJK25ER
Macy’s Must Let Go of Its Middle-Class Fantasy
bloomberg.com
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Retail Rebound in Illinois 🏬 The retail sector is experiencing a significant resurgence. Key drivers include: Consumer Behavior Shifts: Continued preference for in-person shopping. Suburban Growth: Focus on grocery-anchored centers. Strategic Investments: Development of mixed-use spaces. Hybrid Work Models: Increased local retail demand. Investor Confidence: Retail now a favored asset type. According to the National Association of REALTORS® (NAR), 35M SF of new retail space has been developed nationwide, reflecting these trends. CBIZ notes this development underscores the sector's resilience and potential for sustained growth. #CatonCommercialRealEstate #Retail #CommercialRealEstate #IllinoisCRE #InvestmentTrends #IndustryInsights
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Washington Prime Group Inc.'s CEO, Christopher Conlon, spoke during the University of Cincinnati Real Estate Center 's May Roundtable this morning. Here are some notes: • Trending / "Hot" retailers in their portfolio include Scheels and Market by Macy's • "Pioneers" in their older malls who often change the direction of the asset include Warby Parker, lululemon, SEPHORA, Shake Shack, Buck Mason, Faherty Brand, and Nike. Often push for termination rights and start with % rent. Still demanding marketing $ and co-tenancy • Demolished 130 Million SF and only added 4 Million SF in the last 2 years. Highlighting the fact that open-air and enclosed mall owners are preferring to repurpose space over new construction • Challenges Ahead: Overall health of the consumer is a concern. While there is a strong employment rate, higher rates and credit card defaults are straining the lower socio-economic groups Well attended overall! #retail #realestate #cre #Colliers #CincyRetail
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Macy's just announced that they will be closing 150 underperforming stores and have plans to monetize between $600 to $750 million of assets through 2026. I am actually shocked that Macy's is still around. I remember hearing about the retail apocalypse in 2017-2018 and 6 years later, Macy's is still standing. It is amazing to think that one generation ago, a department store like Macy's was an anchor tenant that entire shopping malls could be built around and now the stores are ghost towns. How many of the old department stores that used to anchor malls across America will be left in another 25 years? I doubt there will be any. If I had to guess, the next generation probably won't even know what a department store is. The good news is, people will keep needing apartments, so maybe now is a great time to invest with Matheson Capital at the link in the comments. #commercialrealestateinvesting #realestateinvesting #passiveincome #passiveinvesting
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Powering Executives and Boards with Gen AI Business Roadmaps | ESG & AI Governance | Transformation | Chartered Board Director | Follow for blueprints on AI & Leadership, Business Scale Up and Board Maturity 🇨🇦🇬🇧
Macy's is charting a bold course in retail, evolving with CEO Tony Spring at the helm. By closing underperforming stores and expanding into luxury markets with new Bluemercury and Bloomingdale's locations, they're adapting to consumer demands and edging out competition. Their innovative approach, combining digital strategies with an upscale focus, shows a commitment to both tradition and modernity. As Macy's reinvents itself, it's a reminder that agility is key in today's digitalized market. What are your thoughts on Macy's strategy? #RetailInnovation #Macy's #BusinessStrategy #DigitalTransformation Join the discussion below. Original article: https://lnkd.in/ekZD3huv
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There’s an interesting article in the Wall Street Journal in which the new CEO of Macy's, Tony Spring, recognizes that shopping at Macy’s stores isn’t fun. It’s one of the first admissions we have had, in a very long time, from the executive suite that the way stores look and feel goes to the heart of Macy’s issues. Basically, the experience just isn’t what it should be. There are lots of little details that give glimmers of hope, including the fact Tony Spring wants to review how clothes are displayed, that he intends to add more staff, and that he believes that first impressions can make or break a store. Among other things, this is what good retailing is all about. Tony Spring’s views are now in direct contrast to those of activist investors Arkhouse which, in the same article, bang on about how Macy’s lacks the necessary experience to properly unlock the value of its real-estate. Real estate is important, but monetizing it is not a retail strategy. It is a financial strategy – and usually an extremely short term one at that. Arkhouse’s approach seems to be some kind of smash and grab raid to generate a quick buck with little concern for the consequences. In my view, retailers should be run as retailers. Macy’s may not always have done a good job of running its business in the past, but Tony Spring’s heart and mind seem to be in the right place. He needs to be given a chance to succeed. However, words need to turn quickly into actions. Otherwise the "Bold New Chapter" plan will turn into the same old story. Link to article in the comments. #retail #departmentstores #retailnews #Macys
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The pulse of Austin's retail market is strong! 📈 We're excited to share some data illustrating the impressive streak of Austin's retail market in 2023 – a testament to the city’s robust growth and market resilience. Key takeaways include: ✅ A milestone marked by the tenth consecutive quarter of positive net absorption ✅ The highest annual net absorption rate since 2015 ✅ Exponential population growth fueling the expansion of retail in blossoming submarkets 🛍️ Austin’s transformation is more than numbers; it's about creating spaces that meet the evolving needs of our dynamic community. We are proud to play a role in shaping the landscapes where business and culture thrive. Let's discuss how these trends might evolve. Share your insights with us and join the conversation around the future of Austin's commercial landscape. #commercialconstruction #austintx #retail #cre #commercialrealestate
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Infiniti Properties Broker, Trainer and Recruiter | Top Producer, Real Estate The Rosenberg Group @ Infiniti Properties
https://lnkd.in/gbDmTRFh <== Read more here The Comeback of Michigan Avenue: Chicago’s Retail Scene Is Popping Off! Who said the Magnificent Mile was down for the count? After a rough few years with sky-high vacancy rates and empty storefronts, Michigan Avenue is flipping the script in 2024, and it’s more exciting than ever. What used to be the golden child of Chicago’s shopping scene took a serious hit during the pandemic, but things are heating up again! Let’s take a look at how Michigan Avenue is bringing the buzz back with new shops, experiences, and a complete glow-up in progress. Rising from the Ashes (Like a Retail Phoenix) Yes, the pandemic made the Magnificent Mile feel like it was a ghost town, with vacancy rates soaring over 30%. H&M, Uniqlo, and other heavyweights pulled out, leaving some prime real estate up for grabs. But now? We’re talking major foot traffic, new retailers, and some seriously cool attractions that are exactly what this stretch of Chicago needed.
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Macy's Q4 results: 💵 Total sales: -1.7% 🛍 Comp sales: -5.4% 📉 Net income: -114.0% (unadjusted) These are mediocre numbers. Even with an extra week of trading, Macy's could not engineer sales growth - including off the back of a weak prior year. The big news is that Macy's has a new plan called "Bold New Chapter" which includes "modernizing the shopping environment", pushing more into luxury via the addition of new Bloomingdale's and Bluemercury stores, and streamlining operations. The plans are sensible and give an early sign that new CEO Tony Spring wants to put Macy's house in order. However, Macy's has come up with grand plans before and has completely failed to execute. So most will reserve judgment until they start to see improvements underway. Nevertheless, this is a step in the right direction. #Macys #departmentstores #trading #economy
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Exciting developments are unfolding in the world of grocery retail in North Texas! H-E-B has recently opened its first Dallas location of Joe V's, with a second already under construction. Now, the DBJ reports that a third location is in the works, targeting a new city just outside Dallas. 🍏 What does this mean for the Dallas-Fort Worth metroplex? H-E-B is clearly positioning itself to capture a significant portion of the market, leveraging Joe V's value-oriented brand to attract a broad spectrum of consumers. The strategic placement of these stores could bring remarkable benefits to local communities: - **Economic Growth:** New stores are an indication of job opportunities, from construction to ongoing store operations. - **Accessibility:** Consumers in Dallas and surrounding areas will now enjoy greater access to affordable groceries, which is especially important in today's economic climate. 👨💼👩💼 From a business standpoint, H-E-B's approach offers some fascinating insights: 1. **Real Estate Savvy:** By selecting growth areas in the region, H-E-B is likely assessing key metrics such as population density and consumer spending habits. 2. **Brand Differentiation:** Expanding Joe V's allows H-E-B to target a different segment of the market than their traditional stores, diversifying their customer base. 3. **Competitive Edge:** Opening multiple locations in quick succession demonstrates confidence and a robust execution strategy, likely fortifying their position against local competitors. 🔮 Prediction: The successful rollout of Joe V's stores across the DFW metroplex could serve as a launchpad for further regional or even national expansion. If these stores can quickly establish a loyal customer base, we might anticipate additional locations opening faster than initially planned. Community members and businesses alike should keep a close eye on this development, as it could signal broader retail trends and economic patterns in the region. What are your thoughts on H-E-B’s aggressive expansion strategy? Will Joe V's reshaped the retail landscape in North Texas? Let's discuss! 🛒🌟 #BusinessSummit #GroceryRetail #HEB #StrategyAnalysis #EconomicGrowth
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