RETAIL
L.A. Mayor Gives Green Light To Reopen Retail
By Andrew Asch | May 28, 2020
After weeks of being required to shut down operations because of the COVID-19 pandemic, boutiques and independent shops were given the green light on May 27 by Los Angeles Mayor Eric Garcetti to reopen.
PacSun Opens Landmark Store in DTLA, NYC to Follow
Once one of the leading mall retailers, Pacific Sunwear of California is opening two standalone landmark stores, it was announced on Feb. 25.
Tilly’s Names New Chief Digital Officer
Tilly’s Inc., a multibrand, casual-clothing retailer, named Jon Kosoff as its chief digital officer on Feb. 24. He will direct the Irvine, Calif.–based company’s e-commerce business.
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.
L.A. and California Economy Strong, But Might Take Small Hit from Coronavirus
California and Los Angeles County are forecasted to enjoy moderate yet sustained growth throughout the next two years, according to a Los Angeles County Economic Development Corporation forecast released on Feb. 19.
Forever 21 Acquired by ABG, Simon and Brookfield
Forever 21 is now owned by the Authentic Brands Group, the Simon Property Group and Brookfield Property Partners, it was announced on Feb. 19.
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 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
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
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
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.
