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RETAIL

Retailers Temporarily Close Stores Due to Coronavirus Outbreak

By Andrew Asch | March 19, 2020

Retailers and malls joined in the effort to curb the spread of the coronavirus pandemic by temporarily shuttering stores this week as the economies of California and the U.S. moved into a recession, said a report from the UCLA Anderson School, which was released on March 16

Mall Giant Simon Acquires Taubman for $3.6 Billion

Simon Property Group and Taubman Centers Inc., two titans of the American mall market, will join forces in a deal where Simon acquires Taubman for $3.6 billion or $52.50 per share, it was announced Feb. 10.

Week In Review

The Week in Review

Forever 21 Bankruptcy Names Stalking Horse Bidders

The Simon Property Group and Brookfield Properties have joined forces to acquire the assets of their bankrupt tenant Forever 21 Inc.

Macy’s Plan Calls for New Direction and Closing 125 Stores

Macy’s Plan Calls for New Direction and Closing 125 Stores

Macy’s Inc. outlined sweeping changes on Feb. 4 that called for the elimination of 2,000 jobs and the closure of 125 stores over the next three years, said Jeff Gennette, the giant retailer’s chairman and chief executive officer.

Vans Opens L.A. Fashion District Flagship for Locals and Global Visitors

Vans Opens L.A. Fashion District Flagship for Locals and Global Visitors

The cradle of the sport and lifestyle of skateboarding is located in Los Angeles’ Venice section, Santa Monica, Calif., and parts of Orange County, Calif. But Vans, the Costa Mesa, Calif.–based brand credited for making the first skateboarding shoe, chose downtown Los Angeles’ fashion district as the location for its new flagship concept store.

Amazon Reports Stellar 4th Quarter

Retail giant Amazon.com reported that its net sales increased 21 percent, to $87.4 billion in the fourth quarter of its 2019 fiscal year, compared with $72.4 billion in the fourth quarter of its 2018 fiscal year.

What’s Checking Malibu: Haven for Indie Stores

What’s Checking Malibu: Haven for Indie Stores

During a time when independent, multi-line stores are considered to be playing defense against digital retailers and mono-brand shops, Malibu, Calif., remains a haven for independent boutiques.

Forever 21 Auction Potentially Scheduled for Feb. 4

An auction for bankrupt retailer Forever 21 might be scheduled for as soon as Feb. 4, according to Bloomberg. A new owner for the Los Angeles–based fast-fashion retailer might be announced as soon as Feb. 11.

After A Decade, Malibu To Build a Retail Center

After A Decade, Malibu To Build a Retail Center

Malibu has been taking steps to give a final approval to start construction of Malibu La Paz Ranch, a new retail center, it will be one of the only new retail centers to be constructed in Malibu in more than a decade.

Egeck Exits PSEB Group

After he guided the Eddie Bauer outdoor brand to a merger with surf-and-youth retailer Pacific Sunwear of California to form operating company PSEB Group, it was announced Jan. 23 that Mike Egeck will step down as chief executive officer.

Luxury Resale Trends Reflected in The RealReal’s ‘2010s Retrospective’

Recently, Brisbane, Calif.–headquartered luxury resellerThe RealReal encouraged fashion enthusiasts to look back on secondhand trends from the last 10 years. Compiled from sales data and client-survey responses sourced since the company’s founding in 2011, the “2010s Retrospective” report provides insight regarding the power of resale on trends.

Millennial Generation Loves Internet, Vintage Clothing & Bricks & Mortar, Survey Says

The Millennial generation was born during a baby boom of the 1980s and 1990s and represents one of the biggest segments of the U.S. population—75 million people—according to the Brookings Institution.

Retail Stars Talk Trends & Tech at NRF’s Big Show

Retail Stars Talk Trends & Tech at NRF’s Big Show

Executives and stars of the retail business discussed the future and the present of their industry at NRF 2020 Vision, Retail’s Big Show, which ran Jan. 12–14 at the Javits Center in New York City. The event was produced by the influential trade group National Retail Federation.

Gap Inc.’s 180-Degree Shift Sees Departure of Neil Fiske

Gap Inc.’s 180-Degree Shift Sees Departure of Neil Fiske

San Francisco’s Gap Inc. released a filing with the United States Securities and Exchange Commission that revealed it will no longer see a split from Old Navy. With this announcement, the company also revealed that Neil Fiske, president and chief executive officer of the Gap brand division, would vacate his role.

Active Ride’s Assets To Be Sold

Active Ride Shop, an award-winning action-sports and skateboarding retailer based in Ontario, Calif., which ran more than 21 shops, is being sold by its lender.