NorthPark Center’s Post

Retail Today / Retail Renaissance: Has TJX found their next “billion dollar” brand? HomeSense TJX this off-price powerhouse continues to dominate this retail sector with their stable of brands. #tjx #marshalls #sierratradingpost #HomeGoods #HomeSense With $56 Billion Dollars in sales, TJX is closing in on 5,000 stores internationally. #sales How does TJX do it? They understand their customers, she’s aspirational, fashionable, stylish and loves the “Treasure Hunt”. #customerexperience #aspirational #fashion #style The you add the “TJX MAGIC”, a company that’s passionate about building and supporting “Merchants”. #merchandising #merchants Now the opportunity! HomeGoods has been a major success for TJX the last 25 years with 922 stores and a cult following. I completely agree with the attached article from “Business Of Home” Warren Shoulberg. Warren Shoulberg As GenZ and Millennials start to fill millions of apartments being built across the country. There’s a huge opportunity! #genz #millennials #apartments I have also included my visit to HomeSense from a couple of months ago. #retail #retailtrends #retailindustry #offprice #brandexperience #TopRetailExpert

Macy’s announced a new strategy that includes a much smaller footprint and an expansion of its luxury and beauty brands.  The department store giant said it is “focusing resources” by closing approximately 150 underproductive Macy’s locations, including some 50 by the end of 2024, and prioritizing investment in approximately 350 “go-forward” nameplate locations and the continued expansion of small-format stores. In October, Macy’s  said it would open up to 30 small-format, off-mall stores through fall 2025, starting in fall 2024. The company plans to focus more on luxury goods by opening about 15 Bloomingdale’s stores and at least 30 Bluemercury stores during the next three years.  Bloomingdale's and Bluemercury have both outperformed Macy's. #commercialrealestate #retailrealestate #macys #bloomingdales #bluemercury #expansion

At the end of the day, shops done well are life-enhancing. These are two of my favourites! Read more here: https://lnkd.in/eyqfh4PH #benchmarks #highstreets #retail #futureofretail #experientialretail #ambience | Nick Caccavone

It is tough to see news like this, Fred Segal paved the way for so many young brands and even played a role in impacting local culture and trends. But the sad truth is that as the landscape evolved, doors needed to pivot harder and move more into experiential shopping experiences, relying on e-com growth to fill the gap of the lost revenue from less in-store shoppers. You have to work twice as hard to create reasons to drive foottraffic.. think brand collabs, in store exclusives, community led events etc. END. Are a great example; their playbook has been well documented. Another who excels in this area are Nick A. & Ankur Amin at Extra Butter. Innovation isin’t reserved only for the tech and software businesses - retail arguably needs even more if you are to stand out in a busy market, and compete for consumers 💰💵💶💷

More news from Macy's. As retail evolves at a pace not seen to date, all eyes are on Macy's as the largest department store chain left standing in the United States. Marianne Wilson of Chain Store Age reports that the department store giant said it is “focusing resources” by closing approximately 150 underproductive Macy’s locations, including some 50 by the end of 2024, and prioritizing investment in approximately 350 “go-forward” nameplate locations and the continued expansion of small-format stores. In October, Macy’s  said it would open up to 30 small-format, off-mall stores through fall 2025, starting in fall 2024. Bluemercury As part of its strategy, dubbed "A Bold New Chapter," the company plans to focus more on luxury goods by opening about 15 Bloomingdale's’s stores and at least 30 Bluemercury stores during the next three years. It also expects to remodel about 30 Bluemercury locations during that time. Bloomingdale's and Bluemercury have both outperformed Macy's. I periodically visit Macy's locations throughout the country on my travels. Some stores are well merchandised and present well. Others, not so much. Retail is a day-to-day challenge and the culture of a company can impact the "boots on the ground" sales and service teams. It will be interesting to how Macy's traverses this next round of strategic initiatives. #retail #retailnews #retailtrends #retailstrategy #departmentstore #cre #macys https://lnkd.in/gH67tzhg

Are you wondering about the future of Macy's? As someone who had a hand in the creation of the #dinershop in #thecellar, I think Macy's CEO Tony Spring has it exactly right. Despite being "built for another era", Macy's is making strategic moves to adapt to the changing retail landscape. As someone who used to work in a "kitchen electrics" buying role, I remember how much of a headache their #onedaysale used to be. However, I believe that Macy's is on the right track with their recent store footprint closures. What's your take on Macy's growth potential? Check out this article and let's discuss. #retailindustry #strategy #businessgrowth

♀ The Fall of Barneys New York: A Cautionary Tale Barneys New York, a luxury retail icon established in 1923, filed for bankruptcy and closed its doors in 2019. Despite its legendary status, several factors led to its downfall: 1. High Operational Costs: Operating in prime locations like Madison Avenue resulted in unsustainable rent increases, with costs jumping from $16 million to $30 million annually. 2. Changing Consumer Behavior: The shift towards e-commerce left traditional retailers like Barneys struggling as consumers, especially younger ones, preferred online shopping for its convenience and competitive pricing. 3. Intense Competition: Online luxury platforms like Net-a-Porter and Farfetch, along with traditional competitors like Neiman Marcus, offered more choices and better prices, outpacing Barneys. 4. Poor Management Decisions: Frequent changes in ownership and management led to inconsistent strategies. Expensive store expansions and renovations didn't deliver expected returns, exacerbating financial strains. 5. Economic Factors: Economic downturns reduced discretionary spending, heavily impacting luxury retailers like Barneys, which couldn't navigate these challenges effectively. 6. Brand Relevance: Barneys struggled to stay relevant amidst a rapidly evolving fashion landscape. New, agile brands captured the attention of fashion-forward consumers, leaving Barneys behind. ♀ Barneys' failure highlights the need for adaptability in retail, underscoring the importance of evolving with consumer trends and economic shifts. #branding #Fashion #ecommerce

Macy’s new focus on luxury and closure of underproductive stores: Macy’s, unveils ambitious plans to close 150 underproductive stores, marking a significant shift in strategy over the next three years. Amidst a challenging retail landscape, the company emphasizes a pivot towards luxury shopping experiences. Read more from The Guardian: https://lnkd.in/gxWzVSg3 Tony Spring, Macy’s CEO, heralds this transition as a "bold new chapter," signaling a departure from the status quo and a commitment to modernizing the Macy’s brand. With plans to open 15 upscale Bloomingdale’s stores and 30 Blue Mercury cosmetics locations, the company aims to curate relevant assortments and deliver compelling value to its clientele. Despite challenges, Macy’s remains steadfast in its dedication to customer-centric initiatives, promising improved shopping experiences and prioritizing investments in approximately 350 locations while expanding smaller stores. Spring asserts that employees are energized by the prospect of driving market share gains and sustainable growth, fostering optimism within the company. However, the announcement coincides with a 1.4% drop in Macy’s shares during pre-market trading on Wall Street. Furthermore, the rejection of a $5.8 billion takeover offer underscores Macy’s determination to forge its path forward independently. The retail landscape's evolution, accelerated by the pandemic, underscores the imperative for adaptation. Macy’s, like its counterparts, grapples with shifting consumer behaviors and the rise of e-commerce. Despite posting a net loss of $71 million for the last quarter of 2023, the company remains resolute in its pursuit of long-term viability and shareholder value. As department stores navigate a tumultuous landscape, Macy’s bold strategy reflects a commitment to resilience and innovation, aiming to carve out a sustainable niche in an ever-changing market. #HalifaxWest #WinTogether #capitaladvisory #MandA #restructuring #operatingadvisory #Macys #RetailEvolution #LuxuryShopping #BoldNewChapter #Bloomingdales #BlueMercury

795 Madison was on the market for many years before we stepped in and successfully closed the deal. Andrew Schulman and Ryan Schimel secured a long-term lease for an international men's brand here. Can you guess which brand it might be? We can't wait to share more about this exciting new addition to the famous #MadisonAve! DM us or comment below for your best ideas about who is coming. #RetailLeasing #MadisonAvenue #NYCRealEstate #CapricornRetailAdvisors #RetailSpace #ShopNYC #StoreOpening #NYCShopping #LuxuryRetail #RetailNews #NewInNYC #ShoppingDistrict #FashionRetail #MensFashion #RetailTherapy #NewStoreAlert #BusinessSuccess #CommercialRealEstate #LeasingNews #FashionHub #NYCEvents #RetailWorld #BusinessDeal #IconicLocations #RetailMarketing #NYC #retailstateofmind