Specialty Retail Report - News

Art goes to the mall

admin — Tue, 16 Mar 2010 20:21:29 -0700

With his shoes barely visible beneath an oversized, paint-splattered t-shirt, 6-year- old Nicholas Patterson is focused on nothing but his paintbrush, which he moves about in sweeps and dabs. "Abstract painting is my favorite," he says. "You get a lot of money if you sell them." About 20 feet away, swarms of shoppers race by toting armfuls of new purchases. This is a place where you might not expect to find an art class: the Ridgedale Center mall in Minnetonka. The Minnetonka Center for the Arts expanded into the mall in early February.

Simon Readies New Bid for GGP

admin — Tue, 16 Mar 2010 20:17:00 -0700

Mall giant Simon Property Group Inc. is readying a sweetened takeover bid for bankrupt rival General Growth Properties Inc. that would top an offer on the table from several General Growth investors. Simon sent a letter Monday night to General Growth's lawyers saying it expects to deliver its improved proposal late this week or early next. Simon didn't outline details of its offer, which are still in flux, according to people familiar with the matter. It did say in the letter that it will resolve antitrust concerns that may arise from its proposed combination.

Business students start MHS store

admin — Mon, 15 Mar 2010 20:05:32 -0700

Nine budding entrepreneurs are proving that you are never too young to start learning to earn. Several Martinsville High School students are learning about entrepreneurship by creating their own business, complete with shareholders, customers and — hopefully — a profit. “I love the sense of knowing that we run our own business,” said senior Rodney Johns. Brian Barnes, business teacher at Martinsville High School, said several of his students are getting real-life experience by creating their own business: a Martinsville High School store.

Loan Squeeze Thwarts Small-Business Revival

admin — Mon, 15 Mar 2010 19:41:24 -0700

Ypsilanti, MI — Thomas Harrison, chief executive of Michigan Ladder Co., has a plan that would contribute to the U.S. economic recovery: Expand the 108-year-old company, adding at least 20 jobs in the process. His chances of getting the loan of $300,000 or more he needs to do so, though, depend in part on what happens to folks like home builder James Haeussler. Both are customers of the same community bank, the Bank of Ann Arbor. Mr. Haeussler is struggling to repay $8.3 million he and a partner borrowed to build a residential community in nearby Saline, Mich.

The Best Tax Breaks for Small Business

admin — Sun, 14 Mar 2010 19:43:59 -0700

It's tax crunch time again. From March 15, when some corporations file, to the April 15 deadline for individuals, small-business owners are busily organizing their receipts and books—and looking for as many tax breaks as possible. But when filing small-business taxes, mind that the devil is in the details, warns Roni Lynn Deutch, author of "The Tax Lady's Guide to Beating the IRS and Saving Big Bucks on Your Taxes." "You're not a doctor or a dentist and also a tax attorney," she says.

NH moving ahead with e-cigarette ban for youth

admin — Sat, 13 Mar 2010 19:08:54 -0800

Concord, NH—Electronic cigarettes are readily available at mall kiosks and the Internet, come in flavors like tobacco, strawberry, chocolate and vanilla, and replace smoking with "vaping." And though they deliver a dose of nicotine steam, they can still be legally sold to and used by minors. Mara Zrzavy, a 16-year-old ConVal Regional High School student from Peterborough, thinks that's just wrong, and worries kids her age will view e-cigarettes as cool and become addicted to the nicotine.

Tenant turnover leads to some big changes at Ventura's Pacific View

admin — Sat, 13 Mar 2010 18:57:14 -0800

In place of several retailers once found at Pacific View mall in Ventura, patrons will find expansive gray walls — and sometimes, the promise of new stores coming soon. “I’ll walk by something and then I’ll stop and say to a friend, ‘Hey, wasn’t that a shoe place or something?’ ” said José Ramirez of Oxnard. Owned by Macerich Co. of Santa Monica, the 1 million-square-foot mall — the largest taxpaying entity in Ventura — has suffered its share of store closures this past year.

Retail Pricing Power Seems to Be on Mend

admin — Fri, 12 Mar 2010 19:13:18 -0800

After a 2009 marked by heavy discounting and inventory liquidation, some retailers are starting to get their swagger—and pricing power—back. On Friday, the Commerce Department is expected to say retail sales dipped slightly in February after a strong January increase, held back in part by unusually cold and snowy conditions last month. Yet sales are still likely to be up about 3% from a year ago, in contrast with the double-digit declines seen in the depths of the recession. The recovery has been varied.

SPREE 2010 Offers Exciting Social Events and Discount Theater Tickets for Attendees

admin — Fri, 12 Mar 2010 16:24:13 -0800

Hanover, Mass. – The 2010 Specialty Retail Entrepreneur Expo & Conference (SPREE) announces a full slate of social events for show attendees. SPREE will be hosting two evenings of free festivities and has secured discounted tickets to the popular Broadway show, Disney’s The Lion King playing at the Mandalay Bay Theater. SPREE 2010 is not all work, it is fun too. The show will be hosting two nights of parties bringing together specialty retailers in a casual setting for networking and mingling with colleagues, clients and business partners.

City Place Mall plan aims for the sky

admin — Wed, 10 Mar 2010 07:41:43 -0800

When Walt Petrie bought out his development partners two years ago to become the sole owner of City Place Mall in Silver Spring, he had a vision to revive the 27-year-old mall, which suffered from vacant or temporarily leased storefronts and dwindling shoppers. As part of that vision, a 210,000-square-foot, nine story office tower would finally be built on top of the mall, after years of delay.