RETAIL

Year in Review: The Retail News of 2018

The retail realm this year wasn’t quite as turbulent as in 2017, when more than 6,000 outposts closed their doors. Yes, retail bankruptcies were still occurring, such as the Los Angeles–based National Stores chain, which filed for Chapter 11 bankruptcy but then was given a lifeline. Overall, the pace of stores going out of business this year slowed.

Here’s a look at the changes in retail this year.

JANUARY

The National Retail Federation trade group announces that holiday 2017 sales rose 5.5 percent to $691.9 billion compared to the same period the previous year. Its initial forecast was for 3.6 percent to 4 percent.

FEBRUARY

Jeff Kirwan steps down from his job as chief executive officer of Gap Inc.’sGap brand. In June, former Billabong chief Neil Fiske would take over his job.

MARCH

Los Angeles–headquartered menswear chain Bachrach announces it is closing all 14 of its stores after filing for Chapter 11 protection.

A once influential mall, Westside Pavilion, announces it will change 500,000 square feet of its building into creative office space and a few eateries and shops. The remaining 100,000 square feet will continue to operate as a multiplex cinema for Landmark Theatres.

After a 30-year run, Allen Schwartz closes its Santa Monica, Calif.–headquartered flagship to focus on digital commerce.

London-headquartered digital resale market Depop opens its first bricks-and-mortar store in Los Angeles’ Silver Lake neighborhood. It’s part of a wave of vintage- and luxury-consignment stores that opened in Los Angeles and across the country in 2018.

APRIL

Row DTLA near downtown Los Angeles started officially unveiling a wing of boutiques in 2017. It receives a vote of confidence when retailer Oak NYC moves in from its Los Angeles Mid-City location.

Dash, the boutique chain owned by the Kardashians, announces it will close its doors after a 12-year run.

MAY

Bebe Stores Inc. closes a deal to sell its Los Angeles–area design studio for $28.5 million after shuttering most of its 146 stores and selling half the brand to Bluestar Alliance.

Once prominent mall retailer Wet Seal announces its first project after closing all of its physical stores and turning into a digital-only retailer. It’s a collaboration with social-media stars Niki and Gabi DeMartino.

American Apparel announces it will reopen its flagship store on Los Angeles’ Melrose Avenue, but that date has been changed to late February 2019.

JUNE

Eddie Bauer, a Washington-state brand known for its outdoor looks and a focus on outerwear, announces a merger with surfwear and streetwear retailer Pacific Sunwear of California. A new operating company, called PSEB, is created to run both companies.

Alfred Chang is named president of Pacific Sunwear of California, reporting to Mike Egeck, the chief executive officer of PSEB.

In a landmark decision, the U.S. Superior Court overturns its 1992 Quill decision, which exempted e-commerce sites from collecting sales tax if they did not have a physical presence in a state where the transaction took place. After the 2018 decision, e-commerce companies are required to collect sales tax, putting them on a more even keel with stores.

JULY

San Francisco–headquartered ThirdLove, a lingerie and loungewear label,opens a facility in Chico, Calif., where 140 fit stylists work.

Louis Vuitton unveils a major remodel of its store in South Coast Plaza in Costa Mesa, Calif. The shop’s new look was designed by star architect Peter Marino.

Guess? Inc. partners with Alibaba Group, a Chinese-headquartered company focused on e-commerce and technology, to open a concept shop in Hong Kong that showcases Artificial Intelligence technology.

AUGUST

National Stores files for Chapter 11 bankruptcy protection. The Gardena, Calif.–headquartered retailer announces it will close its remaining 184 locations, which include the Factory 2-U, Fallas and Anna’s Linens by Fallas locations around the country. However, in November, Second Avenue Capital Partners closes a $22-million asset-based credit facility to start a new retailer called Fallas Stores. Fallas Stores intends to acquire 85 shops from National Stores.

Irvine Spectrum unveils a $200-million renovation. It also gets a new slate of stores, including the Stance flagship.

SEPTEMBER

Palisades Village, a shopping destination in Los Angeles’ Pacific Palisades neighborhood, is unveiled. It’s the first major retail project in a decade by Los Angeles developer Caruso.

Macerich, parent company of Westside Pavilion, and Simon, a mall developer and owner, announces a partnership to build the Los Angeles Premium Outlets. The off-price center is scheduled to open in the fall of 2021 in Carson, Calif.

Liz Muñoz is named chief executive officer of Torrid, which focuses on fashions for plus-size women.

OCTOBER

Gap Inc. introduces men’s performance clothing brand Hill City.

San Francisco–headquartered online subscription and personal-shopping service Stitch Fix opens operations in the United Kingdom.

NOVEMBER

The Beverly Center wraps up a $500-million remodel, the most extensive in the retail center’s 36-year history. The remodel brings in new skylights as well as a giant billboard-sized LED screen to the center’s Grand Court. The remodel welcomes a slate of new stores including a Brooks Brothers flagship, a giant Zara and a Balenciaga store.

Avant-garde clothier Dover Street Market opens an emporium at 606–608 Imperial St. in Los Angeles’ Arts District. The neighborhood’s retailers hope the arrival of the high-profile retailer is proof that the once blighted area is ready for high-end retail.

DECEMBER

Uniqlo opens a flagship at The Bloc retail center in downtown Los Angeles, sharing the shopping-center area with a Macy’s store and a Nordstrom Local.