Biz Monday: Southwest Florida shopping outlets make inroads

by Dick Hogan
News-Press.com

Even as most retailers face hard times, Southwest Florida's outlet malls find themselves in the right place at the right time.

While the housing industry slowdown increases the number of locals looking for a deal, the sagging dollar makes this a more attractive destination for bargain-hunting Europeans, said Tom Kirwan, senior editor of Tampa-based Value Retail News, part of the International Council of Shopping Centers.

"The foreign influx seems to be really holding up, especially in terms of any decline domestically," he said.

Outlet malls generally are doing well this year nationally, Kirwan said. "It follows the traditional trend, and that's been that when the economy goes into a slide, the outlet centers become especially busy, certainly for the brand names, which is the big pull."

Lee County's economy, heavily dependent on the home-building industry, has taken a hit with unemployment at an all-time high 8.4 percent and the number of houses under construction has fallen drastically while prices dropped.

Outlets are a big business nationally, with 216 outlet malls totaling 55.8 million square feet. There are about 320 chains operating 11,400 stores in outlet malls. Total retail sales are more than $11 billion - outlets represent 1/2 percent of the total in the United States, according to statistics compiled by the council.

But what exactly is an outlet mall?

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