Staples Stores’ Post

Answer to Fridays Trivia Question-Bed Bath & Beyond and buybuy BABY with 12 former locations. Where is Ross Stores opening new stores. Good space is hard to find these days. We tracked Ross latest round of store openings. Ross new store openings reflect a tremendous amount of creativity in repurposing former dead retailer space into quality retail space Here’s what’s inside the numbers. • We tracked 42 new Ross stores and one dd’s Store that opened in October for almost a million square feet. • Only 7 percent was new development while the rest was leasing former anchor space or redevelopment of small shop space. • Former Bed Bath & Beyond and buybuyBABY represented 28 percent of the new space. • The state receiving the most store openings was California with 8 new stores and in second was Pennsylvania with 6 new stores • Former retailer space taken include JC Penney (3), Kmarts (2), and former Staples and Office Max spaces took four spaces. Link to Fridays Trivia question-https://lnkd.in/eqKPhskt

I say it all the time -- Storefront spaces are becoming more and more expensive and traditional retail won't work in many of those locations. Economic development leaders have to be ready to think differently about how they fill empty storefronts with the right tenants. Emily Badger's "The Ground Floor Window into What's Ailing Downtowns" is full of reflections from economic development pros-- including my own! Check out Emily Badger's write up here: https://bit.ly/4949Bgc

I say it all the time -- Storefront spaces are becoming more and more expensive and traditional retail won't work in many of those locations. Economic development leaders have to be ready to think differently about how they fill empty storefronts with the right tenants. Emily Badger's "The Ground Floor Window into What's Ailing Downtowns" is full of reflections from economic development pros-- including my own! Check out Emily Badger's write up here: https://bit.ly/4949Bgc

First in a series of three stories on retail: According to CoStar Group's data, #Chicago's #retailspace market posts another 12-month absorption high. As an area with negative #populationgrowth year over year, the Windy City defies the odds and surpasses many other #smilemarkets that chronicle annual residential growth. In addition, Chicago's #retailmarket benefits from solid corporate investment. For the 11th consecutive year, Chicago led all national metropolitan areas with 485 eligible real estate projects, according to Site Selection Magazine. Many of these are retail space-related, like Wayfair's first brick-and-mortar store. #commercialrealestatebrokers #retailspacebrokers #retaillandlords #retailowners #retailspacedevelopment

Craft cocktails, mountain bikes and art: Walmart's hometown is booming, and getting more expensive. Walmart's hometown of Bentonville, Arkansas, is growing rapidly — with many amenities, and higher prices, that people might expect in a bigger city. The town has more cranes per capita than any other U.S. city, according to Cushman & Wakefield/Sage Partners, and prices are rising for longtime residents as it expands. The biggest construction project is Walmart's new headquarters, which will sprawl across roughly 350 acres with offices, a hotel, food hall, and walking and cycling trails. $WMT https://lnkd.in/gk4TuGYX #tradeguard #receivableputoptions #arputs #receivableputs #tradereceivables #accountsreceivables

Wayfair has been an interesting retailer to track. Over the course of the company's history since their IPO in 2014, I've heard a number of interesting things about them from the furniture and financial sectors. They have obviously made a lot of smart moves including raising enough capital allowing them time to address the many challenges faced when building a large-scale retail company. Today's The Wall Street Journal article outlines how Wayfair offers a significant number of promotions without taking margin hits. The company has faced a softening market as the furniture and home furnishing sales were down 5.1% in the first nine months of this year compared with the same period last year, according to the Commerce Department. Wayfair CFO Kate Gulliver outlines the importance of promotions driving revenue and also notes their relationship with the manufacturers that affords them the flexibility. The Wayfair journey will continue to be one that I follow with interest. Their recent migration into a brick-and-mortar strategy is one that I am a fan of and positions them to an even stronger position in the home furnishings category. #retail #retailnews #retailtrends #cre #dtc #dtcbrands #homefurnishings #furniture #jossandmain #allmodern #birchlane #perigold

Musings on My Trip to NYC Last Week - The 80/20 rule. ▪️Almost every restaurant was packed - even Tuesday and Wednesday - tables were difficult to reserve. ▪️ Museum lines started early. ▪️Hotels were overbooked. We waited >5 minutes for every elevator ride to our floor. ▪️Streets were bustling. ▪️Could not find Broadway tickets for Our Town or The Roommate. I thought that would be easy. ▪️Almost every store owner I talked to (and I talk to them all) said they expect 2024 to be a better year than 2023. I believe them. ▪️Walmart, Dollar, Big Lots, Walgreens are closing stores but Louis Vuitton, Christian Dior, Gucci, Chanel, Hermes, Cartier are crowded. ▪️Red Lobster, Tijuana Flats, Buca di Beppo and other restaurant chains have filed for bankruptcy this year and closed hundreds of restaurants. Denny’s said this week it’s closing 150 restaurants. The Palm, Ruth's Chris Steak House, The Capital Grille, Eddie V's Prime Seafood, are packed. ▪️Same theme for “second tier” cities like Cleveland, Ohio, or Durham, NC. So when recession-obsessed economists discuss the overleveraged consumer they might be ignoring the fact that the top 20% are doing the vast majority of buying - at the high end stores. The bottom 80% of buyers are small potatoes. The top 20% of spenders are not overly leveraged. Much of the bottom 80% most likely are. Visits to the Statue of Liberty Continue at 2023 Levels, No Signs of a Slowdown - Apollo Academy Keeping rates where they are motivates the 80% to save - and that's OK. To those clamoring for lower interest rates - be careful what you wish for. #riskmanagement #money #interestrates

🌟 Discover the **Transformation of Retail in Schaumburg**! 🌟 From overcoming challenges to becoming a dynamic retail powerhouse, Schaumburg has rewritten its story. Once grappling with the decline of brick-and-mortar stores 🚶♂️, this northwestern suburb of Chicago is now thriving, showcasing adaptability and growth. ✨ What are the secrets behind Schaumburg's retail revival? 🤔 - **Strategic Location:** Nestled close to major highways and Chicago, Schaumburg is a prime spot for both suburbanites and city shoppers. 🚗 - **Diverse Offerings:** From high-end boutiques to popular chains, the diverse retail mix satisfies varied tastes. 🛍️ - **Community Engagement:** Events and local business support create a vibrant, welcoming atmosphere. 🎉 - **Embracing E-commerce:** Integration of digital platforms and services like curbside pickup enhance the shopping experience. 📦 🏢 At the heart of it all is **Woodfield Mall**, one of the largest shopping centers in the US, drawing millions of visitors and fueling the local economy. Meanwhile, districts like Market Square and The Streets of Woodfield add charming, personalized shopping experiences beyond the mall. 🔮 Looking ahead, with ongoing developments and tech-savvy initiatives, Schaumburg's retail future shines bright, setting a benchmark for suburban retail. Embrace the spirit of innovation and community as you explore Schaumburg's retail renaissance. Together, let's rewrite the story of retail success! 💪 [#RetailResurgence, #InnovationInRetail, #CommunityPower, #RetailTransformation] READ MORE: https://lnkd.in/dM7jwmMJ

The third largest retailer in the world is joining forces with developers to rethink multi-use projects. Living where you work? Costco Wholesale is now joining in on the fun. The retailer with $240 billion in sales is giving a new meaning to the feedback loop. In my little corner of the world, in densely populated areas and areas going through major development, I’m seeing apartments built above store fronts close to shopping centers and train stations. There are a few things to love about these kinds of builds – ▪️For those looking to get out of the city (and without a car) – everything is right there – grocery, coffee, quick service food, etc. ▪️For those commuting into the city and possibly working long hours – walking distance to the train station is critical – the convenience coming late at night comes to mind ▪️For those looking for some of the benefits of the suburbs – schooling, affordability ✅✅ South L.A. broke ground on a new development including a Costco with 800 rental apartments. 23% of the units will be dedicated to low-income households. This Costco will include a pharmacy, optical services, and delivery options. A new test in convenience and affordability. Approximately 400 new jobs will be created. With Costco’s reputation for employee benefits, do we see this create opportunities for families to LIVE – work at Costco for a livable wage, live close to work at an affordable rate, and have time to take care of self and family? I believe this is the start of something that will transcend retail and redefine multipurpose builds. What will Costco do next? #retail #development #jobs #housing #convenience #affordable