The economy is terrible. It’s very hard to get tourists and consumers into a center. Now once they are there the California Highway Patrol is harassing the tour bus operators and upsetting our customers.
If I'm a tour bus operator, I just won't stop in Barstow anymore.
Wait until you read this.
Officers, mechanics, make sure buses are road-safe
August 30, 2010 2:08 PM By AARON DOME, staff writer
BARSTOW • A team of California Highway Patrol Officers were on patrol near Tanger Outlet Mall on Saturday, but they weren’t looking for drunk drivers or speeding motorists — they were pulling over tour buses.
The CHP set up patrols near every possible entrance to the outlet mall and directed every bus to stop at an inspection area once the buses had unloaded their passengers.
Charles, a tour bus driver who gave only his first name, sat in his Odyssey Tours bus on Saturday waiting for the arrival of a replacement bus after inspectors found a cracked brake rotor on one of the wheels of his bus.
“There isn’t any road service today and a replacement bus will take two or three hours,” said Charles. “This won’t bode well with the tourists.”
Shortly after grounding Charles’ bus, another bus pulled into the inspection area and was quickly deemed un-roadworthy due to small cracks in one of the buses’ wheels.
Nine buses were inspected on Saturday and four were taken off of the road for mechanical problems. CHP Sgt. Raul Duran said that the inspections are crucial to keeping passengers safe.
“This is for the safety of the motoring public,” said Duran. “A while back we put a bus out of service that didn’t have any front brake shoes, it was just metal on metal. I think that shows how important these inspections are. That was just an accident waiting to happen.”
CHP mechanics check out the mechanical condition of each bus that pulls in, visually inspecting the engine, brakes, tires, and even the sewage system of the bus. The driver’s logbook, license, and certification are also inspected.
Duran said that most of the citations issued at bus inspections are “fix-it” tickets that allowed bus operators a certain amount of time to fix violations on a bus before facing a fine.
Once CHP mechanics find a mechanical flaw that can take the bus off the road, a mobile repair service must be called to fix the bus, or a replacement brought out.
Duran said that Saturday’s inspection in Barstow was the third this year and that two more were planned. Duran estimated that each inspection event costs about $15,000, and said they are funded by grants.
Simon Property Group Closes Deal On Prime Outlets
INDIANAPOLIS, Aug. 30 /PRNewswire-FirstCall/ -- Simon Property Group, Inc. (NYSE: SPG) ("Simon") today announced that it has completed its transaction with Prime Outlets Acquisition Company and certain of its affiliated entities ("Prime"), and that, in connection with the transaction, Simon has signed a proposed Consent Agreement with the Staff of the Federal Trade Commission ("FTC"). The Consent Agreement will now be forwarded to the Commission for its review and approval.
The Prime transaction adds 21 outlet center properties to Simon's portfolio, including Prime's Barceloneta outlet center in Puerto Rico which Simon acquired in May of this year. Simon previously announced that it had amended its agreement so that the owners of Prime will retain Prime Outlets-Saint Augustine as well as the Livermore and Grand Prairie development projects.
The completed transaction reflecting the amended agreement and including the Barceloneta outlet center is valued at approximately $2.3 billion, including the assumption of approximately $1.55 billion of Prime's existing indebtedness and preferred stock. Simon paid equity consideration to Prime's owners, generally comprised of 80% cash and 20% in SPG common operating partnership units.
David Simon, SPG Chairman and Chief Executive Officer, stated, "The Prime Outlets portfolio is an excellent strategic fit and presents a compelling opportunity for Simon to benefit from shoppers' increased demand for discounted brand-name merchandise. We believe that our strong track record of operational excellence, financial resources, and history of successful acquisitions, make us well positioned to improve the performance of these assets for the benefit of tenants, retailers and consumers."
SOURCE: PR Newswire
The Prime transaction adds 21 outlet center properties to Simon's portfolio, including Prime's Barceloneta outlet center in Puerto Rico which Simon acquired in May of this year. Simon previously announced that it had amended its agreement so that the owners of Prime will retain Prime Outlets-Saint Augustine as well as the Livermore and Grand Prairie development projects.
The completed transaction reflecting the amended agreement and including the Barceloneta outlet center is valued at approximately $2.3 billion, including the assumption of approximately $1.55 billion of Prime's existing indebtedness and preferred stock. Simon paid equity consideration to Prime's owners, generally comprised of 80% cash and 20% in SPG common operating partnership units.
David Simon, SPG Chairman and Chief Executive Officer, stated, "The Prime Outlets portfolio is an excellent strategic fit and presents a compelling opportunity for Simon to benefit from shoppers' increased demand for discounted brand-name merchandise. We believe that our strong track record of operational excellence, financial resources, and history of successful acquisitions, make us well positioned to improve the performance of these assets for the benefit of tenants, retailers and consumers."
SOURCE: PR Newswire
Tanger Factory Outlet Centers has the Lowest REIT Sales Growth
Below are the top five companies in the Retail REITs industry in terms of lowest sales growth.
- Tanger Factory Outlet Centers (NYSE:SKT) had sales growth of 1.4% during the last fiscal year. The company has reported $273.4 million in sales over the past 12 months and is expected to report $279.6 million in sales in the next fiscal year.
- Saul Centers (NYSE:BFS) had sales growth of 1.8% during the last fiscal year. The company has reported $165.8 million in sales over the past 12 months and is expected to report $171.5 million in sales in the next fiscal year.
- Developers Diversified Realty (NYSE:DDR) had sales growth of 2.3% during the last fiscal year. The company has reported $820.5 million in sales over the past 12 months and is expected to report $749.4 million in sales in the next fiscal year.
- Realty Income (NYSE:O) had sales growth of 2.7% during the last fiscal year. The company has reported $330.5 million in sales over the past 12 months and is expected to report $371.8 million in sales in the next fiscal year.
- Federal Realty Investment Trust (NYSE:FRT) had sales growth of 2.7% during the last fiscal year. The company has reported $541.9 million in sales over the past 12 months and is expected to report $554.2 million in sales in the next fiscal year.
ESPRIT to open a new outlet in Gilroy Premium Outlets
International lifestyle clothing brand ESPRIT will open a 4,275-square-foot retail store Sept. 2 in Suite B300 of the Gilroy Premium Outlets.
The outlet will carry ESPRIT casual clothes and accessories for men and women.
The brand, which began in a station wagon in San Francisco in 1972, now has 800 stores worldwide.
The new Gilroy store will be located between Puma and Tommy Hilfiger. Those interested in employment may inquire within store or submit resumes to: hr.recruitment.us@esprit.com.
SOURCE: Gilroy Dispatch
The outlet will carry ESPRIT casual clothes and accessories for men and women.
The brand, which began in a station wagon in San Francisco in 1972, now has 800 stores worldwide.
The new Gilroy store will be located between Puma and Tommy Hilfiger. Those interested in employment may inquire within store or submit resumes to: hr.recruitment.us@esprit.com.
SOURCE: Gilroy Dispatch
J. Crew to Sell Outlet Only Merchandise On Line
J. Crew Group Inc. will put its outlet-store clothing online in September, making its lower-cost offerings more accessible at a time when the company says consumers are hesitating to pull out their wallets.
The New York-based clothing retailer is gambling that it can expand sales without cannibalizing demand for more expensive merchandise at its mainline stores. Apparel companies typically locate outlet stores in out-of-the-way malls, forcing customers to drive long distances to get access to the discounted goods. J. Crew is among the first to risk selling outlet gear over the Internet.
The move comes as J. Crew reported an 88% jump in profit in its fiscal second quarter but lowered its outlook for the full year.
"They're deferring, they're waiting, they're comparison shopping, and people are a little nervous," Chief Executive Millard "Mickey" Drexler said, describing the mood of his customers on a call with analysts Thursday.
For the quarter ended July 31, J. Crew posted a profit of $34.9 million, up from $18.6 million a year earlier. Revenue grew 14% to $407.5 million.
Online and outlet sales have each seen consistently strong growth through the recession and bumpy recovery, bright spots in an otherwise lackluster retail environment.
J. Crew, like most speciality retailers, manufactures merchandise specifically for its factory channel. It's a different model than that of many apparel manufacturers and department stores, which use their off-price channel to liquidate excess merchandise.
Some retail analysts believe that the customer base for outlets, which at J. Crew offer merchandise 30% below the cost of clothing in the company's mainstream stores, is distinct enough that cannibalization is a low risk. Others, like Piper Jaffray Cos. analyst Jeff Klinefelter, agree, but think making outlet gear more accessible online will cause shoppers to cross over.
"It will be an interesting test of more traditional belief that Factory requires a geographic separation that has often been the hallmark of outlet centers," Mr. Klinefelter says.
Mr. Drexler downplayed the risk that the online off-price channel would steal market share from the company's full-price division.
"If there were a huge cannibalization issue, we would stop it immediately, but it's different goods," he said. "It's an opportunity for a hugely larger reach."
Richard Jaffe, a retail analyst with Stifel Nicolaus, estimates there are roughly 100 strong outlet centers in the country, but says the demand for their products could support several times that. J. Crew's test will allow it to see, in a very short period of time, if expanding access works.
J. Crew said it would increase its factory outlet square footage by at least 10% over the next three to five years. The company also plans to expand the its outlet offerings to its kids brand, Crewcuts.
"They're sincerely concerned about the outlook for their consumer in the second half," Mr. Jaffe said.
SOURCE: The Wall Street Journal By ELIZABETH HOLMES
The New York-based clothing retailer is gambling that it can expand sales without cannibalizing demand for more expensive merchandise at its mainline stores. Apparel companies typically locate outlet stores in out-of-the-way malls, forcing customers to drive long distances to get access to the discounted goods. J. Crew is among the first to risk selling outlet gear over the Internet.
The move comes as J. Crew reported an 88% jump in profit in its fiscal second quarter but lowered its outlook for the full year.
"They're deferring, they're waiting, they're comparison shopping, and people are a little nervous," Chief Executive Millard "Mickey" Drexler said, describing the mood of his customers on a call with analysts Thursday.
For the quarter ended July 31, J. Crew posted a profit of $34.9 million, up from $18.6 million a year earlier. Revenue grew 14% to $407.5 million.
Online and outlet sales have each seen consistently strong growth through the recession and bumpy recovery, bright spots in an otherwise lackluster retail environment.
J. Crew, like most speciality retailers, manufactures merchandise specifically for its factory channel. It's a different model than that of many apparel manufacturers and department stores, which use their off-price channel to liquidate excess merchandise.
Some retail analysts believe that the customer base for outlets, which at J. Crew offer merchandise 30% below the cost of clothing in the company's mainstream stores, is distinct enough that cannibalization is a low risk. Others, like Piper Jaffray Cos. analyst Jeff Klinefelter, agree, but think making outlet gear more accessible online will cause shoppers to cross over.
"It will be an interesting test of more traditional belief that Factory requires a geographic separation that has often been the hallmark of outlet centers," Mr. Klinefelter says.
Mr. Drexler downplayed the risk that the online off-price channel would steal market share from the company's full-price division.
"If there were a huge cannibalization issue, we would stop it immediately, but it's different goods," he said. "It's an opportunity for a hugely larger reach."
Richard Jaffe, a retail analyst with Stifel Nicolaus, estimates there are roughly 100 strong outlet centers in the country, but says the demand for their products could support several times that. J. Crew's test will allow it to see, in a very short period of time, if expanding access works.
J. Crew said it would increase its factory outlet square footage by at least 10% over the next three to five years. The company also plans to expand the its outlet offerings to its kids brand, Crewcuts.
"They're sincerely concerned about the outlook for their consumer in the second half," Mr. Jaffe said.
SOURCE: The Wall Street Journal By ELIZABETH HOLMES
$1,800 in purses stolen from Coach outlet store
Detectives in Horry County are searching for two people who stole more than $1,800 in Coach purses from the Tanger Outlets on Aug. 14.
Employees told Horry County Police a male and female entered the store and concealed six Coach purses into a large bag without paying for the items. The purses, according to officials, were valued at $1,875.
Officials described the male suspect involved in the shoplifting as a black male, standing 6'3" and weighing 155 pounds. The man was further described as having short black hair and a goatee.
A second suspect, according to police, has been identified on surveillance video as a black female, standing 5'5" and weighing 250 pounds.
Detectives are asking anyone with information leading to the identity of the suspects to contact the Horry County Police Department at 915-5350.
SOURCE: WMBF NEWS
Employees told Horry County Police a male and female entered the store and concealed six Coach purses into a large bag without paying for the items. The purses, according to officials, were valued at $1,875.
Officials described the male suspect involved in the shoplifting as a black male, standing 6'3" and weighing 155 pounds. The man was further described as having short black hair and a goatee.
A second suspect, according to police, has been identified on surveillance video as a black female, standing 5'5" and weighing 250 pounds.
Detectives are asking anyone with information leading to the identity of the suspects to contact the Horry County Police Department at 915-5350.
SOURCE: WMBF NEWS
Direct Factory Outlet South Warf Rescue
LENDERS to Melbourne's troubled South Wharf Direct Factory Outlet shopping centre have stumped up $8 million.
The money will allow developer Austexx to complete the project ahead of the expected sale of the $1.5 billion DFO portfolio.
The payment, believed to have been agreed as part of last week's bank syndicate plan to refinance Austexx's $450m South Wharf debt, will be spent on finishing touches to the 50,000 sq m retail complex. It will also pay for part of the fit-out of the 12-level South Wharf office tower, about to be bought by German pension fund Deka Immobilien Investment for about $115m.
Austexx's four South Wharf bank lenders are the National Australia Bank, St George, Suncorp-Metway and Bank of Scotland International.
Although widely tipped last week to be ready to place the project into receivership -- which could have triggered the collapse of Austexx and the entire DFO chain -- the South Wharf bank lenders struck a rescue deal last Thursday, providing a lifeline until a buyer can be found for the centres.
Austexx did not return calls yesterday, but sources said about $11m of work was outstanding at South Wharf. However, about $2.5m of this involves head contractor Contexx, which completed the project three months ahead of schedule in September last year and has a month to go before its 12-month defect liability period expires.
Most of the outstanding Contexx work involves construction along the Yarra River, which had to be deferred because of work on Melbourne's new main sewer.
For Austexx , which is believed to be planning to move its 580 St Kilda Road offices to the South Wharf complex, the most pressing work is to complete part of the fit-out of the office tower, which is leased by ANL Container Line, Kraft Foods, LeasePlan and Baulderstone.
Meanwhile, all South Wharf industrial bans have been lifted after construction unions last week agreed a deal with Austexx in which more than $1m outstanding would be paid in stages to more than 10 sub-contractors and about 30 employees, some of whom had not been paid for a month. Some $380,000 is believed to have been owed for electrical work, $300,000 for plastering and $300,000 for tiling. Contexx has paid all but one of its suppliers and sub-contractors in full.
SOURCE: Maurice Dunlevy From: The Australian August 26, 2010
The money will allow developer Austexx to complete the project ahead of the expected sale of the $1.5 billion DFO portfolio.
The payment, believed to have been agreed as part of last week's bank syndicate plan to refinance Austexx's $450m South Wharf debt, will be spent on finishing touches to the 50,000 sq m retail complex. It will also pay for part of the fit-out of the 12-level South Wharf office tower, about to be bought by German pension fund Deka Immobilien Investment for about $115m.
Austexx's four South Wharf bank lenders are the National Australia Bank, St George, Suncorp-Metway and Bank of Scotland International.
Although widely tipped last week to be ready to place the project into receivership -- which could have triggered the collapse of Austexx and the entire DFO chain -- the South Wharf bank lenders struck a rescue deal last Thursday, providing a lifeline until a buyer can be found for the centres.
Austexx did not return calls yesterday, but sources said about $11m of work was outstanding at South Wharf. However, about $2.5m of this involves head contractor Contexx, which completed the project three months ahead of schedule in September last year and has a month to go before its 12-month defect liability period expires.
Most of the outstanding Contexx work involves construction along the Yarra River, which had to be deferred because of work on Melbourne's new main sewer.
For Austexx , which is believed to be planning to move its 580 St Kilda Road offices to the South Wharf complex, the most pressing work is to complete part of the fit-out of the office tower, which is leased by ANL Container Line, Kraft Foods, LeasePlan and Baulderstone.
Meanwhile, all South Wharf industrial bans have been lifted after construction unions last week agreed a deal with Austexx in which more than $1m outstanding would be paid in stages to more than 10 sub-contractors and about 30 employees, some of whom had not been paid for a month. Some $380,000 is believed to have been owed for electrical work, $300,000 for plastering and $300,000 for tiling. Contexx has paid all but one of its suppliers and sub-contractors in full.
SOURCE: Maurice Dunlevy From: The Australian August 26, 2010
Will the Tanger Mebane Outlet draw enough customers?
In a recent article in the Winston Salem Journal Britt Beemer, the chief executive of America's Research Group said he doesn't expect the Tanger Mebane Outlet to draw many customers.
"I can't imagine that much of their business comes from that far away," Beemer said.
In response to this, the Journal ran a poll asking "Would you drive an hour or more to shop at an outlet mall?"
I contacted the Journal and here are the results I got from Jameya Porter, Interactive Media Editor/Content Producer JournalNow, Winston-Salem Journal.
The final results of that poll were as follows:
Yes - 190 (54%)
No - 161 (46%)
Total votes: 351
Its an interesting result. With gas prices high and competition for every consumer dollar its hard to entice people to drive an hour to an outlet.
The Journal clearly notes that this is not a scientific survey.
Mark Libell
"I can't imagine that much of their business comes from that far away," Beemer said.
In response to this, the Journal ran a poll asking "Would you drive an hour or more to shop at an outlet mall?"
I contacted the Journal and here are the results I got from Jameya Porter, Interactive Media Editor/Content Producer JournalNow, Winston-Salem Journal.
The final results of that poll were as follows:
Yes - 190 (54%)
No - 161 (46%)
Total votes: 351
Its an interesting result. With gas prices high and competition for every consumer dollar its hard to entice people to drive an hour to an outlet.
The Journal clearly notes that this is not a scientific survey.
Mark Libell
New York & Company's net loss from continuing operations for the 2nd qtr was $88.5 million
New York & Company, Inc., a specialty apparel chain with 581 retail stores, announced results for the second quarter ended July 31.
In an August 19 release, the company noted that, for the second quarter of fiscal year 2010, net sales were $243.3 million, as compared to $247.8 million for the second quarter of fiscal year 2009. Comparable store sales for the second quarter of fiscal year 2010 decreased 1.8 percent compared to a 16.4 percent decrease in the prior year second quarter.
Including certain non-operating charges noted below, the Company's U.S. Generally Accepted Accounting Principles ("GAAP") net loss from continuing operations for the second quarter of fiscal year 2010 was $88.5 million, or $1.49 per diluted share of which $1.00 per diluted share represents the non-cash charges as noted below. Excluding the non-operating charges, the Company's adjusted net loss from continuing operations was $29.3 million, or $0.49 per diluted share, as compared to a net loss from continuing operations in the prior year of $4.8 million, or $0.08 per diluted share....
....The Company's second quarter results were negatively impacted by higher levels of markdowns to clear inventory which was initially planned to a higher sales trend. The Company believes its inventory is now well positioned for the fall season and is pleased with the early positive responses received from customers to the new assortments....
...The Company continued the implementation of its new outlet store strategy, opening 11 new outlet stores during the quarter and ending with 16 outlet stores in operation that are meeting the Company's early expectations....
...Outlook
Regarding its expectations for the fall season (combined third and fourth quarters), the Company provided the following:
-Comparable store sales for the fall season of fiscal year 2010 are expected to be down slightly versus the year-ago period.
-Gross profit as a percentage of net sales for the fall season of fiscal year 2010 is expected to be flat to up slightly versus the prior year's levels, with improvements in the fourth quarter expected to offset flat to slightly lower gross margin levels in the third quarter.
SOURCE: Trading Markets
For the compete article with all the details click here.
In an August 19 release, the company noted that, for the second quarter of fiscal year 2010, net sales were $243.3 million, as compared to $247.8 million for the second quarter of fiscal year 2009. Comparable store sales for the second quarter of fiscal year 2010 decreased 1.8 percent compared to a 16.4 percent decrease in the prior year second quarter.
Including certain non-operating charges noted below, the Company's U.S. Generally Accepted Accounting Principles ("GAAP") net loss from continuing operations for the second quarter of fiscal year 2010 was $88.5 million, or $1.49 per diluted share of which $1.00 per diluted share represents the non-cash charges as noted below. Excluding the non-operating charges, the Company's adjusted net loss from continuing operations was $29.3 million, or $0.49 per diluted share, as compared to a net loss from continuing operations in the prior year of $4.8 million, or $0.08 per diluted share....
....The Company's second quarter results were negatively impacted by higher levels of markdowns to clear inventory which was initially planned to a higher sales trend. The Company believes its inventory is now well positioned for the fall season and is pleased with the early positive responses received from customers to the new assortments....
...The Company continued the implementation of its new outlet store strategy, opening 11 new outlet stores during the quarter and ending with 16 outlet stores in operation that are meeting the Company's early expectations....
...Outlook
Regarding its expectations for the fall season (combined third and fourth quarters), the Company provided the following:
-Comparable store sales for the fall season of fiscal year 2010 are expected to be down slightly versus the year-ago period.
-Gross profit as a percentage of net sales for the fall season of fiscal year 2010 is expected to be flat to up slightly versus the prior year's levels, with improvements in the fourth quarter expected to offset flat to slightly lower gross margin levels in the third quarter.
SOURCE: Trading Markets
For the compete article with all the details click here.
Las Vegas Outlet Center Expansion Update
Here are notes my store manager took at the recent managers meeting at the Las Vegas Outlet Center.
Stores that have signed leases for the expansion are:
Stores that have signed leases for the expansion are:
- Guess
- Gap
- Ann Taylor Loft
- True Religion
- New Balance
- Toys R Us
- Under Armor
- Foundation perimeters are being poured now
- The drive-way will be closed to through traffic Mid-Sept.
- Store signs on walls outside will be coming down Mid-Sept.
- There will be carpeting and seating in transition areas
2010 VRN Fall Outlet Retail Convention
Who should - And Does - Attend?
Value-oriented retailers
Leasing, operations and marketing professionals
Retail and development consultants
Economic development councils and city government representatives
International retailers and developers
Financial and investment professionals
New retailers and developers
Power-center developers
Megamall developers
Technology firms
Management companies
Who Should - And Does - Exhibit?
Outlet development, management and marketing companies
Owners, developers and commercial brokers of shopping centers ready for value-oriented repositioning
Landowners with properties of interest to outlet center developers
Marketing, technology and executive search firms
Financial and investment firms and institutions
Tanger Announces Expansion of Its Management Team
Tanger Factory Outlet Centers, Inc. announced today that it has expanded its senior management team by appointing Thomas E. McDonough, 52, to the newly created position of Executive Vice President of Operations.
Steven B. Tanger, President and Chief Executive Officer of Tanger Factory Outlet Centers, Inc., stated, "We fully expect Mr. McDonough's demonstrated experience growing and building businesses in the real estate investment trust industry to add great value and perspective to our company and to our senior management team. Organizationally, the addition of Mr. McDonough will enable each member of the company's current senior management team to focus more closely on their respective growth initiatives."
Mr. McDonough brings close to 30 years of real estate investment trust ("REIT") management, leasing, acquisition, asset management, development and redevelopment experience to Tanger.
He is the former chief investment officer of Equity One, a REIT specializing in the acquisition, asset management, development and redevelopment of properties anchored by supermarkets, pharmacies and retail store chains in major metropolitan markets across the United States. At Equity One, he completed over $300 million of joint ventures with affiliates of CalPERS and DRA Advisors. Prior to Mr. McDonough's role at Equity One, he was a partner of Kahl & Goveia Commercial Real Estate acquiring retail, office, medical and residential space, primarily in California. He spent six years, from 2000-2006, with Regency Centers Corporation as their senior vice president and national director of acquisitions and dispositions in their Irvine, CA office and three years with Regency's predecessor, Pacific Retail Trust, as senior vice president where he assembled a portfolio of high-quality neighborhood shopping centers in the western United States. For the previous 12 years, Mr. McDonough was a marketing principal and leasing agent, then partner and principal of Trammell Crow Company, where he took on projects of increasing complexity and responsibility.
While at Trammell Crow, he led a large leasing and property management team converting a 1.8 million square foot, single-user facility into a multiple-user office complex; developed a $20 million retail center; and, was the general manager of a $600 million mixed-use development project, to name just a few of his accomplishments.
Mr. McDonough started his career in management consulting, working for Strategic Planning Associates, Inc. (Washington, DC and London, UK), where he helped open the firm's first European office.
Currently residing in Irvine, California, Mr. McDonough and his family will relocate to North Carolina, and he will be based out of Tanger's Greensboro headquarters office. Mr. McDonough graduated from Stanford University with a B.S. in Mechanical Engineering and holds an M.B.A. from Harvard Business School with an emphasis on Finance and Strategic Planning.
Kim Kardashian Promotes her new Fragrance at Camarillo Premium Outlets
Kim Kardashian promoted her new fragrance at the Perfumania in the Camarillo Premium Outlets this past Saturday.
I can't believe none of my readers let me know about this in advance. I would have gladly made a site visit so I could personally report on the event for the blog.
Mark Libell
I can't believe none of my readers let me know about this in advance. I would have gladly made a site visit so I could personally report on the event for the blog.
Mark Libell
Direct Factory Outlet stores to be sold to repay $1 billion
Direct Factory Outlet (DFO) will be split up store by store and sold off to repay almost $1 billion owed to banks after development of the DFO South Wharf outlet stalled when cash dried up.
DFO owners Austexx, run by David Goldberger and David Wieland as reported in The Age will be forced to split up the nine DFO outlets to service the $1 billion owed to NAB, St George, Bank of Scotland International and Suncorp-Metway, made up of $550 million for the South Wharf DFO development and $450 million in other debts.
Australian Competition and Consumer Commission boss Graeme Samuel, is expected to fail to recoup the $50 million invested in Austexx via a blind trust once DFO’s operations are bundled up and sold.
Late last week a deal was struck between DFO’s David Goldberger and David Wieland and NAB, St George, Bank of Scotland International and Suncorp-Metway to roll over debt on the South Wharf DFO development in order to avoid a fire sale of the underdeveloped project and not realise the full value from the development. The four banks hope that holding off breaking up the DFO group will result in less losses for their investment.
SOURCE: dynamic business By David Olsen on Monday, 23 August 2010
DFO owners Austexx, run by David Goldberger and David Wieland as reported in The Age will be forced to split up the nine DFO outlets to service the $1 billion owed to NAB, St George, Bank of Scotland International and Suncorp-Metway, made up of $550 million for the South Wharf DFO development and $450 million in other debts.
Australian Competition and Consumer Commission boss Graeme Samuel, is expected to fail to recoup the $50 million invested in Austexx via a blind trust once DFO’s operations are bundled up and sold.
Late last week a deal was struck between DFO’s David Goldberger and David Wieland and NAB, St George, Bank of Scotland International and Suncorp-Metway to roll over debt on the South Wharf DFO development in order to avoid a fire sale of the underdeveloped project and not realise the full value from the development. The four banks hope that holding off breaking up the DFO group will result in less losses for their investment.
SOURCE: dynamic business By David Olsen on Monday, 23 August 2010
City sets special routes to malls for tax free weekend
San Marcos — Traffic routes to the outlet malls in San Marcos will be changed slightly this weekend to accommodate the expected large crowds at Prime Outlets and Tanger Outlet Center for back-to-school shopping.
Northbound traffic on I-35 will exit at Centerpoint Road (exit 200). Exit 201 northbound at McCarty Lane will be closed from Friday at 12 noon to Sunday at 6 p.m.
Southbound traffic will exit at McCarty Lane (exit 201). Exit 200 at Centerpoint southbound will be closed during the weekend.
Signage will direct motorists on both sides of I-35.
San Marcos Police and San Marcos Fire Department will have additional officers and firefighters at the malls Friday through Sunday for public safety and first aid.
SOURCE: San Marcos Daily Record
Northbound traffic on I-35 will exit at Centerpoint Road (exit 200). Exit 201 northbound at McCarty Lane will be closed from Friday at 12 noon to Sunday at 6 p.m.
Southbound traffic will exit at McCarty Lane (exit 201). Exit 200 at Centerpoint southbound will be closed during the weekend.
Signage will direct motorists on both sides of I-35.
San Marcos Police and San Marcos Fire Department will have additional officers and firefighters at the malls Friday through Sunday for public safety and first aid.
SOURCE: San Marcos Daily Record
Retail real estate prices fall.
Retail Spaces Lead Drop in U.S. Commercial Property
U.S. commercial real estate prices fell the most in almost a year in June as the economic recovery showed signs of faltering, Moody’s Investors Service said.
The Moody’s/REAL Commercial Property Price Index dropped 4 percent from May, the company said today in a report. The decline was the biggest since July 2009, and pushed the gauge down 0.9 percent from the start of the year.
“We expect property prices to remain choppy for some time as commercial real estate markets and the broader economy continue their slow recovery from the recession,” Moody’s researchers said in the report.
High unemployment and concern over slowing economic growth are hampering a price rebound for offices, apartments, industrial and retail properties, Moody’s said. U.S. gross domestic product expanded at a estimated 2.4 percent annual pace in the second quarter, less than economists forecast and slower than the 3.7 percent rate in the previous three months.
The Moody’s index is down 41 percent from its 2007 peak, having gained 4.2 percent from the seven-year low set in October.
The value of malls and shopping centers fell almost 11 percent in the second quarter, the biggest drop of any commercial property type tracked in the Moody’s index. Apartments and offices values both gained about 4 percent, while industrial properties dropped 2.9 percent.
“In the first quarter, there was probably a little more optimism because we had evidence of retail sales rebounding to a level that was probably a little better than people expected,” said James Sullivan, a Cowen & Co. real estate investment trust analyst. “In the second quarter, things began to slow down.”
Sullivan rates mall operator Simon Property Group Inc. “outperform” and competitors Macerich Co. and Developers Diversified Realty both “neutral.”
Retail sales in the U.S. trailed forecasts and consumer confidence was near an eight-month low, government and university reports said on Aug. 13.
SOURCE: Bloomberg By Brian Louis and David M. Levitt - Aug 19, 2010
U.S. commercial real estate prices fell the most in almost a year in June as the economic recovery showed signs of faltering, Moody’s Investors Service said.
The Moody’s/REAL Commercial Property Price Index dropped 4 percent from May, the company said today in a report. The decline was the biggest since July 2009, and pushed the gauge down 0.9 percent from the start of the year.
“We expect property prices to remain choppy for some time as commercial real estate markets and the broader economy continue their slow recovery from the recession,” Moody’s researchers said in the report.
High unemployment and concern over slowing economic growth are hampering a price rebound for offices, apartments, industrial and retail properties, Moody’s said. U.S. gross domestic product expanded at a estimated 2.4 percent annual pace in the second quarter, less than economists forecast and slower than the 3.7 percent rate in the previous three months.
The Moody’s index is down 41 percent from its 2007 peak, having gained 4.2 percent from the seven-year low set in October.
The value of malls and shopping centers fell almost 11 percent in the second quarter, the biggest drop of any commercial property type tracked in the Moody’s index. Apartments and offices values both gained about 4 percent, while industrial properties dropped 2.9 percent.
“In the first quarter, there was probably a little more optimism because we had evidence of retail sales rebounding to a level that was probably a little better than people expected,” said James Sullivan, a Cowen & Co. real estate investment trust analyst. “In the second quarter, things began to slow down.”
Sullivan rates mall operator Simon Property Group Inc. “outperform” and competitors Macerich Co. and Developers Diversified Realty both “neutral.”
Retail sales in the U.S. trailed forecasts and consumer confidence was near an eight-month low, government and university reports said on Aug. 13.
SOURCE: Bloomberg By Brian Louis and David M. Levitt - Aug 19, 2010
A Bridesmaid Grows in Brooklyn
On the eve of my last day in New York city, I write this from my fire escape with a glass of chilled red wine (yes, that's right, I like red chilled) listening to the cicadas buzz. I love how the breeze is cooling off this hot New York air.
Melancholy?
Slightly.
It's not like I am leaving New York with my feet dug into the ground, but it's pretty close. I mean how can I not? It's New York. And like Carrie says, it's fabulous.
Except she is talking about Manhattan and I am talking about that borough Brooklyn. The one that used to be the 'hood' but is actually a treasure of tree-lined Brownstone streets, cool cafes, adorable boutiques and people so friendly you'd swear you were in the prairies.
I felt an instant connection to Brooklyn. Manhattan took a few tries to get me hooked (which it did) but Brooklyn was instantaneous. Maybe because it has all those Manhattan things we love to think of (above mentioned cafes and boutiques) complete with brick-exposed walls and yellow cabs - but on a much softer scale. It's like the small-town version on Manhattan.
Manhattan can kick your ass. After a day of pounding the pavement, it wears you out. Busting your way through gawking tourists, waiting for the 'F' train in a stinking hot (and full) station, getting shoved around by impatient assholes. Brooklyn offers an oasis of calm in a storm. When I pop my head out at Bergen Street station I feel as though I have come . . . home.
So it's with great sadness that I leave this place.
I am more lucky that most. In the 18 months the Engineer spent at NYU, I was here for the better half. Which doesn't seem like long at all. Not long enough to feel at home. Or call this home.
How come I feel like it's home then?
In those 9-10 months, I wandered both Brooklyn and Manhattan endlessly. Usually by myself. Sadly when the Engineer and I recounted our favourite memories from this place, rarely were they together.
That's just fine. New York was mine to discover and play and wander and explore.
I found pickles to die for. The best cupcakes in the world. I got lost at museums that house world wonders. I was present on Broadway for 'magic time' (what I refer to as 8:00 pm when the lights go on for countless plays, ballets, symphonies, comedies - it's amazing to think what magic happens at 8:00 across this town) countless times. I spotted stars on the subway. I discovered tea shops in back rooms that were once speakeasies. I had picnics in the only graveyard on the island. I saw the full moon on a crisp winter's night from a castle. I skated on Rockefeller and hated it. I claimed lawn space for an outdoor movie and had a pizza delivered to a park. I listened to my favourite authors at bookstores. I did yoga on a hammock. I ate a real New York slice the New York way. I found a love for restaurants with back gardens. I became a regular at a deli. I saw thunderstorms over the Statue of Liberty. I walked in the footsteps of those that built this country.
I fell in love with this city, with the Engineer, and, as cheesy as this is, with myself. I discovered so much about myself in these past two years. The trials of a long-distance relationship, finally getting a job after years of dead-ends, becoming a bride, publishing articles for the first time, raising two dogs responsibly. So much has happened since the Engineer came here. We've evolved and changed - our outlook on life and our expectations are totally different. I think this city had something to do with it.
I soaked up this city like a sponge. And yet there are still countless restaurants to try (just walking down East 7th yesterday made me CRAZY for food!). More museums to see. Plays that open in the fall. This city sleeps, honestly it does, but never slumbers. I would say it takes cat naps.
Around every corner there is a new discovery. I have never felt so inspired at my keyboard to write like I do here. The possibilities are endless.
I mean isn't that what Frank Sinatra said? If you can make it here, you'll make it anywhere.
It's true. If you can't find your passion, your drive, the things that make you tick here - then New York has failed you. There is so much drive in this city you can feel it pulsate. Every day I talk to someone interesting. From the lady across the street who wears her curlers when she walks her bulldog to the writer who spent time in the Peace Corps.
In this giant city where millions of people walk, play, run, work, dance, laugh, cry - I found a haven in 478 Warren Street, Brooklyn, New York. A little area where I felt welcome from day one and have called home for two years. A little piece of this great city that was mine.
Thank you New York. It's been swell.
Melancholy?
Slightly.
It's not like I am leaving New York with my feet dug into the ground, but it's pretty close. I mean how can I not? It's New York. And like Carrie says, it's fabulous.
Except she is talking about Manhattan and I am talking about that borough Brooklyn. The one that used to be the 'hood' but is actually a treasure of tree-lined Brownstone streets, cool cafes, adorable boutiques and people so friendly you'd swear you were in the prairies.
I felt an instant connection to Brooklyn. Manhattan took a few tries to get me hooked (which it did) but Brooklyn was instantaneous. Maybe because it has all those Manhattan things we love to think of (above mentioned cafes and boutiques) complete with brick-exposed walls and yellow cabs - but on a much softer scale. It's like the small-town version on Manhattan.
Manhattan can kick your ass. After a day of pounding the pavement, it wears you out. Busting your way through gawking tourists, waiting for the 'F' train in a stinking hot (and full) station, getting shoved around by impatient assholes. Brooklyn offers an oasis of calm in a storm. When I pop my head out at Bergen Street station I feel as though I have come . . . home.
So it's with great sadness that I leave this place.
I am more lucky that most. In the 18 months the Engineer spent at NYU, I was here for the better half. Which doesn't seem like long at all. Not long enough to feel at home. Or call this home.
How come I feel like it's home then?
In those 9-10 months, I wandered both Brooklyn and Manhattan endlessly. Usually by myself. Sadly when the Engineer and I recounted our favourite memories from this place, rarely were they together.
That's just fine. New York was mine to discover and play and wander and explore.
I found pickles to die for. The best cupcakes in the world. I got lost at museums that house world wonders. I was present on Broadway for 'magic time' (what I refer to as 8:00 pm when the lights go on for countless plays, ballets, symphonies, comedies - it's amazing to think what magic happens at 8:00 across this town) countless times. I spotted stars on the subway. I discovered tea shops in back rooms that were once speakeasies. I had picnics in the only graveyard on the island. I saw the full moon on a crisp winter's night from a castle. I skated on Rockefeller and hated it. I claimed lawn space for an outdoor movie and had a pizza delivered to a park. I listened to my favourite authors at bookstores. I did yoga on a hammock. I ate a real New York slice the New York way. I found a love for restaurants with back gardens. I became a regular at a deli. I saw thunderstorms over the Statue of Liberty. I walked in the footsteps of those that built this country.
I fell in love with this city, with the Engineer, and, as cheesy as this is, with myself. I discovered so much about myself in these past two years. The trials of a long-distance relationship, finally getting a job after years of dead-ends, becoming a bride, publishing articles for the first time, raising two dogs responsibly. So much has happened since the Engineer came here. We've evolved and changed - our outlook on life and our expectations are totally different. I think this city had something to do with it.
I soaked up this city like a sponge. And yet there are still countless restaurants to try (just walking down East 7th yesterday made me CRAZY for food!). More museums to see. Plays that open in the fall. This city sleeps, honestly it does, but never slumbers. I would say it takes cat naps.
Around every corner there is a new discovery. I have never felt so inspired at my keyboard to write like I do here. The possibilities are endless.
I mean isn't that what Frank Sinatra said? If you can make it here, you'll make it anywhere.
It's true. If you can't find your passion, your drive, the things that make you tick here - then New York has failed you. There is so much drive in this city you can feel it pulsate. Every day I talk to someone interesting. From the lady across the street who wears her curlers when she walks her bulldog to the writer who spent time in the Peace Corps.
In this giant city where millions of people walk, play, run, work, dance, laugh, cry - I found a haven in 478 Warren Street, Brooklyn, New York. A little area where I felt welcome from day one and have called home for two years. A little piece of this great city that was mine.
Thank you New York. It's been swell.
Dog Days of Summer
Due to a miscommunication with West Jet, I was forced to leave Brooklyn with my mum in Calgary and bring Mr. Mop by himself to New York.
When we first got here, Mop was listless and lethargic. I assumed it was because he missed his little buddy. I now know it is the heat.
I think he does miss Brookie though - he has no one's head to bite and no one to wrestle with. And my oh my, he is sooooooooo well-behaved. I am now forced to conclude that Brooklyn is the ringleader in their wacky behaviour.
My mum enjoys taking care of Brooklyn I think. I mean, she'll complain that he gets up early or that he is being naughty, but I know she thoroughly enjoys his antics.
To prove this I would like to share some exerts from her emails.
Brooklyn is nicely settled in. He's taking full advantage of the views from the balconies and the squirrel gazing in the back yard. I move his bed outside so he can view them in comfort. At night I put the bed on my bed and it is working very well.
The big black squirrel was up early this morning, munching on what looked like a peanut, on the fence right by the backdoor. When B went out he must have found the peanut shell dropping, he sniffed them for ages before finally peeing on them. He then found a fir cone, brought it in and attacked it. I had just vacuumed the rug yesterday, so had to grab it before it was spread all over.
He also found a dead bee yesterday, which occupied him for ages till I discovered what he had and took it away.
He went with me to the Co-op to get gas, it's not self serve and the nice attendant gave him a treat.
This makes me laugh - the image of Brookie rolling around with a dead bee or a fir cone is hilarious. Why does he choose to play with garbage and not his toys? Is it because Mop usually takes them from him so he is now accustomed to dust bunnies and lint? Sometimes he wakes up the morning and plays with himself until the rest of us get up. In his little life I have found him playing with a deflated balloon, a wool pill from my sweater, foil from a wine bottle, and an empty chocolate bar wrapper.
B's ears are getting the drops and this morning I put the neck stuff on. He's cottoned on REALLY FAST when I want to do something. This morning we played the game of wait and try and trick her. I put a cookie down near me and he kept trying to get it fast enough so I couldn't grab him. It was a tie, but I did finally win.
He's smart, the second time he got a treat, he heard the crackle of the bag and came flying into the kitchen.
Those cookies have some cinnamon in them and I'm almost tempted to try one.
I don't have to explain why this one makes me laugh.
Brooklyn is now on the wake up at 6 30 cycle, oh joy.
Played cat and mouse with him for ages this morning, come and get the treat so I can grab you, on my part, and, how fast can I fool her with my amazing speed and dexterity on his part.
Needless to say, I won. So his ears are getting the medicine. I first wash his face and ears with a nice warm facecloth, that sends him into a state of obvious joy and doziness, then I do the drops and rub gently.
Since he likes it, I have no idea why he tries to avoid the necessary.
This one makes me laugh because I can not only picture Brooklyn lying on his back with his eyes closed and his teeth showing but my mum making little kissy noises in the voice she used to use when I was four and had the flu.
Can now sit, both in the back and in the front in comfort.
So after dinner, Brooklyn and I have been sitting in front watching amazing cloud formations, cats and other stuff. He really likes the front verandah, lots to see, at least from his point of view.
HE LOVES THESE COOKIE TREATS. I went to homesense today, but they were all gone.
I've put his bed on my bed. Last night he was downstairs in it, and came up early in the morning. He's now all snuggled up and asleep. Watching squirrels has worn him out.
Right. Brooklyn likes the cloud formations.
Brookie just had a bath. I used some VERY EXPENSIVE, EXCLUSIVE SHAMPOO on him, he was very good, and his ears seem to be guck free now.
He got a nice rubdown with a fluffy towel, then tore around the house for 10 mins at full tilt.
He's enjoying his brushing, now that he is almost dry, and sits there with a swoony look on his face.
Yesterday he spotted a waskilly wabbit, near the hydrant at the end of the street. He gazed for several minutes then tried to attack. He would have given the wabbit (who was his size) a good run for his money, except I held on tight. So instead he had to content himself with sniffing the ground the wabbit was sitting on, which he seemed to really enjoy.
He's now snoozing on my fluffy blue shawl. he's becoming attached to it.
Funny on many levels. The first being my mother referring to a rabbit as a 'wabbit'. The second being that Brook gets super hyper when wet - after a bath he goes sort of mental. I also enjoy him getting a rubdown with an oversized bath towel. He's nine pounds.
It's not that I don't love him, but I think he needs Mr Mop around to bug. He's a little bored.
Today, after rising, as usual at 6ish, he was eating his brekkie near the doors in the family room, when Mr Squirrel descended down the fence. They both stared at each other, eye to eye, for about a minute. B finally gave chase, but my bag barrier (I don't know what this is) is holding and Mr S. got away.
I've put some dog food on top of the fence, hopefully this will provide entertainment later in the day for B.
He did have fun at Ron's (a farmer friend on my dad's). We got him to run around alot, he got to eat some nice fresh grass, and he had his first meeting with Red Angus cattle. It was quite funny, he was running along and then all of a sudden he realized that there were some big red shapes on the other side of the barbed wire fence. He came to an abrupt halt, stared, then woofed at them. Being curious creatures, they got up and headed closer to the fence. B backed off a little, kept glancing round to see if we were there, we were, so then he let out some pretty feeble growls.
The cows kept watching, B got a little braver, took a step closer,growled a little louder, but then gave up. So I guess he brought some excitement into their boring day, and they into his.
Brooklyn is a regular farmer Joe! HA!
Mop has been having his own adventures - very much the tale of the Country Dog vs the City Dog. Brooklyn met some cows, Mop met some pigeons at Central Park. Mop has also become very good at riding the F train and enjoys Greenwich Village but hates Midtown. He might even join me today for a veil fitting in the Meatpacking district.
I'll let you know how the reunion goes tomorrow night. Should be cute. And there should be lots of head biting.
General Growth Properties under investigation by the SEC
After having survived a takeover by rival Simon Property Group and having found a way to navigate an exit out of bankruptcy, it appears the troubles facing General Growth Properties are not quite over. The Wall Street Journal reported today the Securities and Exchange Commission has started a formal probe of insider trading by current and former officers and directors.
General Growth made the investigation known in its quarterly report filed with the SEC last week. According to the article, the investigation is a continuation of an informal probe that began in October 2008, which was around the time when General Growth’s stock declined sharply due to debt problems within the company. This forced several executives who had borrowed to buy company stock to sell large blocks in order to satisfy margin calls.
While General Growth did not list which employees and directors are involved in the probe, they do not expect the outcome of the probe to impair its finances or operations as it plans to exit bankruptcy protection later this year. The nation’s second-largest mall owner also said they will cooperate fully with the SEC investigation
SOURCE: The Journal Record
General Growth made the investigation known in its quarterly report filed with the SEC last week. According to the article, the investigation is a continuation of an informal probe that began in October 2008, which was around the time when General Growth’s stock declined sharply due to debt problems within the company. This forced several executives who had borrowed to buy company stock to sell large blocks in order to satisfy margin calls.
While General Growth did not list which employees and directors are involved in the probe, they do not expect the outcome of the probe to impair its finances or operations as it plans to exit bankruptcy protection later this year. The nation’s second-largest mall owner also said they will cooperate fully with the SEC investigation
SOURCE: The Journal Record
Expert says Tanger's Mebane Oultet wont draw many customers.
Britt Beemer, the chief executive of America's Research Group, said he doesn't expect the outlet center to draw many customers away from shopping centers in the Triad, such as Hanes Mall in Winston-Salem, and Friendly Center, the Shops at Friendly Center and Four Seasons Town Centre in Greensboro. Those malls are 30 to 60 miles from Mebane.
"I can't imagine that much of their business comes from that far away," Beemer said.
SOURCE: Winston Salem Journal
What do you think? The journal is also sponsoring a vote: "Would you drive an hour or more to shop at an outlet mall?"
I think Tanger needs to get everyone on that web site and have them vote YES!
"I can't imagine that much of their business comes from that far away," Beemer said.
SOURCE: Winston Salem Journal
What do you think? The journal is also sponsoring a vote: "Would you drive an hour or more to shop at an outlet mall?"
I think Tanger needs to get everyone on that web site and have them vote YES!
Would you drive an hour or more to shop at an outlet mall?
The Winston Salem Journal is running a poll in relation to the Tanger Mebane outlet.
The question is "Would you drive an hour or more to shop at an outlet mall?
The poll closes on 8/23/2010. I will be interested to see the results.
You can follow this link to vote.
Mark Libell
The question is "Would you drive an hour or more to shop at an outlet mall?
The poll closes on 8/23/2010. I will be interested to see the results.
You can follow this link to vote.
Mark Libell
Round Rock Premium Outlet Visit
Recently I visited the Round Rock Premium Outlets.
Round Rock Premium Outlets
4401 North IH-35
Round Rock, TX 78664
(512) 863-6688
Directions
From Austin-Bergstrom International Airport:
Take Highway 71 West to Interstate 35 North. Exit 257, Westinghouse Road.
Regular Hours
Mon-Sat: 10am-9pm, Sun: 11am-7pm
One of my biggest pet peeves with this center is how difficult it is to pull off the highway into the center. It is a very sharp turn that needs to be taken at relatively high speed in traffic. Now I regularly drive in midtown Manhattan traffic, so I'm no wimpy driver. This is poorly designed.
After visiting my Kids Supercenter store I toured the center.
I counted 7 vacancies out of 147 stores for a 5% vacancy rate. It should be noted however that most of the vacancies were all in the Monarch section between Polo and Banana Republic.
It also appeared that New Balance was running a going out of business sale.
Mark Libell
Dolphin Mall gets Bloomingdale's Outlet
Dolphin Mall, Miami’s splashiest value shopping center and dining/entertainment destination, will make more waves when The Outlet Store, Bloomingdale’s opens, along with Gap Factory Store at the center this fall.
Dolphin Mall will soon be one of the first shopping centers in the country to feature The Outlet Store, Bloomingdale’s, the luxury retailer’s new outlet concept. Reflecting the Bloomingdale’s brand with a strong value message, the 25,000-square-foot store will feature apparel and accessories, including women’s ready-to-wear, men’s, children’s, women’s shoes, jewelry, handbags and intimate apparel. Currently under construction, The Outlet Store will open in late fall in the mall’s Moda district.
Also opening this fall is Gap Factory Store, offering great Gap style and exceptional value. Providing a fresh, casual look, Gap Factory Store offers a selection of clothing and accessories with the perfect combination of reworked classics and timeless fashion at a 30 percent savings. With options for men, women, kids and babies, Gap Factory Store is a great place to shop for the whole family.
These retailers will join the new Forever 21, which recently opened a 42,000-square-foot store in Moda 4.
“We’re excited to welcome these top names in fashion,” says Dolphin Mall Marketing & Sponsorship Director Madelyn Bello Calvar. “Our shoppers are trend-savvy and budget-conscious, and they’re going to love the new stores.”
Dolphin Mall is an enclosed value retail/entertainment/dining destination with more than 240 retailers. It is located just five miles west of Miami International Airport, where the Dolphin Expressway and the Florida Turnpike intersect.
SOURCE: Businesswire
Bloomingdale's has announced plans to roll out a new Bloomingdale's Outlet store concept in 2010.
Plans call for four new Bloomingdale's Outlets, each with approximately 25,000 square feet, to open in the following shopping centers with an upscale outlet store focus:
Dolphin Mall will soon be one of the first shopping centers in the country to feature The Outlet Store, Bloomingdale’s, the luxury retailer’s new outlet concept. Reflecting the Bloomingdale’s brand with a strong value message, the 25,000-square-foot store will feature apparel and accessories, including women’s ready-to-wear, men’s, children’s, women’s shoes, jewelry, handbags and intimate apparel. Currently under construction, The Outlet Store will open in late fall in the mall’s Moda district.
Also opening this fall is Gap Factory Store, offering great Gap style and exceptional value. Providing a fresh, casual look, Gap Factory Store offers a selection of clothing and accessories with the perfect combination of reworked classics and timeless fashion at a 30 percent savings. With options for men, women, kids and babies, Gap Factory Store is a great place to shop for the whole family.
These retailers will join the new Forever 21, which recently opened a 42,000-square-foot store in Moda 4.
“We’re excited to welcome these top names in fashion,” says Dolphin Mall Marketing & Sponsorship Director Madelyn Bello Calvar. “Our shoppers are trend-savvy and budget-conscious, and they’re going to love the new stores.”
Dolphin Mall is an enclosed value retail/entertainment/dining destination with more than 240 retailers. It is located just five miles west of Miami International Airport, where the Dolphin Expressway and the Florida Turnpike intersect.
SOURCE: Businesswire
Bloomingdale's has announced plans to roll out a new Bloomingdale's Outlet store concept in 2010.
Plans call for four new Bloomingdale's Outlets, each with approximately 25,000 square feet, to open in the following shopping centers with an upscale outlet store focus:
- Bergen Town Center, Paramus, NJ
- Dolphin Mall, Miami, FL
- Potomac Mills, Woodbridge, VA
- Sawgrass Mills, Sunrise, FL
Could last minute negotiations save Direct Factory Outlets?
Last minute negotiations to prevent Direct Factory Outlet's South Wharf shopping centre from being placed in the hands of receivers are continuing, but traders at the centre are putting on a brave face, saying they are confident the centre can succeed.
Since SmartCompany revealed yesterday that executives at the company that owns Australia's eight Direct Factory Outlets stores were locked in crisis talks over the company's mounting debt problems, the drama surrounding the South Wharf centre has escalated.
Australian Competition and Consumer Commission chairman Graeme Samuels, who holds a small stake in the holding company which owns the DFO business, a company called Austexx, has revealed the potentially devastating effect any collapse would have on his personal fortune, which has been estimated at more than $50 million.
A lawyer representing DFO investors and well-known rich list members David Goldberger and David Wieland - who own a combined 50% of Austexx - has said the pair are "vigorously attempting to maximise the position of all stakeholders".
But while receivers circle the DFO complex at South Wharf – which is believed to be saddled with debts of more than $500 million – traders at the centre who spoke to SmartCompany this morning say the situation on the ground may not be as bad as it appears.
SmartCompany spoke with managers at the Hairhouse Warehouse, Villa & Hut and Howard's Storage World outlets at the centre, who remain relatively upbeat despite the new focus on the complex.
Ron Pugsley, manager of Howards Storage World, said he had not had any contact with centre management since the problems at the centre emerged, but says he would not have expected to.
He also says centre management have been open with tenants since the centre launched.
"In the materials that we provided there were no guarantees of numbers, and we were fully aware of that," he says
"We still think it's got enormous potential. It just needs to be advertised and people need to understand the location a lot better."
While Puglsey is remaining positive, ACCC chair Graeme Samuel is clearly unimpressed with the financial problems.
He invested in Austexx before becoming ACCC chair, and then placed his interests in a blind trust.
"This is most distressing indeed because it affects the interests of my children and grandchildren as beneficiaries of my estate," Samuel told The Australian.
Samuel confirmed the asset is the biggest in his portfolio. However, he says he has only received "headline information" about the operation of Austexx since becoming ACCC chair.
Samuel recently removed Austexx CEO Geoff Porz as one of the trustees of the blind trust.
"I have to leave this to others (the trustees) to sort out. But it's true that I have changed a trustee to remove any potential conflicts and ensure they have one, and only one, mandate - to look after the interests of my children and my grandchildren," he told the newspaper.
SOURCE: Smartcompany by James Thomson
Since SmartCompany revealed yesterday that executives at the company that owns Australia's eight Direct Factory Outlets stores were locked in crisis talks over the company's mounting debt problems, the drama surrounding the South Wharf centre has escalated.
Australian Competition and Consumer Commission chairman Graeme Samuels, who holds a small stake in the holding company which owns the DFO business, a company called Austexx, has revealed the potentially devastating effect any collapse would have on his personal fortune, which has been estimated at more than $50 million.
A lawyer representing DFO investors and well-known rich list members David Goldberger and David Wieland - who own a combined 50% of Austexx - has said the pair are "vigorously attempting to maximise the position of all stakeholders".
But while receivers circle the DFO complex at South Wharf – which is believed to be saddled with debts of more than $500 million – traders at the centre who spoke to SmartCompany this morning say the situation on the ground may not be as bad as it appears.
SmartCompany spoke with managers at the Hairhouse Warehouse, Villa & Hut and Howard's Storage World outlets at the centre, who remain relatively upbeat despite the new focus on the complex.
Ron Pugsley, manager of Howards Storage World, said he had not had any contact with centre management since the problems at the centre emerged, but says he would not have expected to.
He also says centre management have been open with tenants since the centre launched.
"In the materials that we provided there were no guarantees of numbers, and we were fully aware of that," he says
"We still think it's got enormous potential. It just needs to be advertised and people need to understand the location a lot better."
While Puglsey is remaining positive, ACCC chair Graeme Samuel is clearly unimpressed with the financial problems.
He invested in Austexx before becoming ACCC chair, and then placed his interests in a blind trust.
"This is most distressing indeed because it affects the interests of my children and grandchildren as beneficiaries of my estate," Samuel told The Australian.
Samuel confirmed the asset is the biggest in his portfolio. However, he says he has only received "headline information" about the operation of Austexx since becoming ACCC chair.
Samuel recently removed Austexx CEO Geoff Porz as one of the trustees of the blind trust.
"I have to leave this to others (the trustees) to sort out. But it's true that I have changed a trustee to remove any potential conflicts and ensure they have one, and only one, mandate - to look after the interests of my children and my grandchildren," he told the newspaper.
SOURCE: Smartcompany by James Thomson
Speaking of Art
I was at the MET the other day. And last week. And the week before that.
I am so in love with the MET. If it were a person, the Engineer would have some pretty stiff competition. Luckily, it's just a really big building housing some of the world's greatest art, sculpture, artifacts, furniture . . . . the list literally goes on.
The only thing I am not so into at the MET are the mummies. I am not kidding, looking at mummies makes me sick. I literally get nauseous. It sort of makes sense. They are, after all, decomposed bodies.
I also get the chills in the armoury. Those men on the horses are so amazing. Amazingly real that is. Creepy crawlies thinking of being in a war with those things coming at you.
Anyhoo, the MET makes me really happy inside. I decided just to check out my Impressionist friends. I found it so inspiring - I plugged in my iPod, selected some classical music and really let myself get lost in the brushstrokes of genius.
I was also inspired watching people. There was a little girl with her grandma and mum. She wanted to see a Van Gogh closer. It made me want to cry. She is barely in school and recognized beauty.
There was another mother there with her sleeping toddler and daughter of about ten or eleven. I may or may not have stalked them to get this fuzzy photo. I am such a creep. But I loved them! The daughter would find a painting she liked then her mum would ask her questions. What do you like? How do you think he painted it? What do you think it means?
HELLO? AMAZING!!!!! Asking questions like those to a child makes them aware of culture and the world on so many levels. She may grow up to be a lawyer who loves art. She's a killer in the courtroom because she asks the tough questions. Then she uses her big pay cheque to support an artist on the Lower East Side. Or maybe she is the next Georgia O'Keefe.
That is what makes art galleries exciting!
I also loved this duo. A tattoo-covered biker dude with a shirt that says 'Up Yours' - who knew he had a thing for Serat? His buddy flitted around the rooms (literally) practically jumping for joy when he could explain art to his friend. It was pretty awesome/cute.
Then I happened upon 'American Woman'.
OH
MY
GOD
I . . . don't . . . have the words.
The MET has this temporary exhibit from the Brooklyn Museum and they have done an amazing job. They take you from the Heiress and her star-embroidered, tiny waistline gowns through to suffragettes to glamorous 30's film stars.
I took some illegal photos but there is a great resource on the MET website as well as a fabulous video.
This was such a magical display I returned twice! I loved watching the Suffragettes walk down New York streets on the amazing video the MET has. I loved picking my favourite flapper dress. The display was truly stunning.
Walking out of the museum I had an extra bounce to my step! Well, how could one not after seeing amazing art and then stepping into Central Park? The world looks like a bright and wonderful canvas after a day at the MET.
Just don't bring pickles from the LES like I did. The only reason the security guard let me keep them was because she knew the value of a Pickle Guy pickle.
Only in New York
I am so in love with the MET. If it were a person, the Engineer would have some pretty stiff competition. Luckily, it's just a really big building housing some of the world's greatest art, sculpture, artifacts, furniture . . . . the list literally goes on.
The only thing I am not so into at the MET are the mummies. I am not kidding, looking at mummies makes me sick. I literally get nauseous. It sort of makes sense. They are, after all, decomposed bodies.
I also get the chills in the armoury. Those men on the horses are so amazing. Amazingly real that is. Creepy crawlies thinking of being in a war with those things coming at you.
Anyhoo, the MET makes me really happy inside. I decided just to check out my Impressionist friends. I found it so inspiring - I plugged in my iPod, selected some classical music and really let myself get lost in the brushstrokes of genius.
I was also inspired watching people. There was a little girl with her grandma and mum. She wanted to see a Van Gogh closer. It made me want to cry. She is barely in school and recognized beauty.
There was another mother there with her sleeping toddler and daughter of about ten or eleven. I may or may not have stalked them to get this fuzzy photo. I am such a creep. But I loved them! The daughter would find a painting she liked then her mum would ask her questions. What do you like? How do you think he painted it? What do you think it means?
HELLO? AMAZING!!!!! Asking questions like those to a child makes them aware of culture and the world on so many levels. She may grow up to be a lawyer who loves art. She's a killer in the courtroom because she asks the tough questions. Then she uses her big pay cheque to support an artist on the Lower East Side. Or maybe she is the next Georgia O'Keefe.
That is what makes art galleries exciting!
I also loved this duo. A tattoo-covered biker dude with a shirt that says 'Up Yours' - who knew he had a thing for Serat? His buddy flitted around the rooms (literally) practically jumping for joy when he could explain art to his friend. It was pretty awesome/cute.
Then I happened upon 'American Woman'.
OH
MY
GOD
I . . . don't . . . have the words.
The MET has this temporary exhibit from the Brooklyn Museum and they have done an amazing job. They take you from the Heiress and her star-embroidered, tiny waistline gowns through to suffragettes to glamorous 30's film stars.
I took some illegal photos but there is a great resource on the MET website as well as a fabulous video.
This was such a magical display I returned twice! I loved watching the Suffragettes walk down New York streets on the amazing video the MET has. I loved picking my favourite flapper dress. The display was truly stunning.
Walking out of the museum I had an extra bounce to my step! Well, how could one not after seeing amazing art and then stepping into Central Park? The world looks like a bright and wonderful canvas after a day at the MET.
Just don't bring pickles from the LES like I did. The only reason the security guard let me keep them was because she knew the value of a Pickle Guy pickle.
Only in New York
The Importance of Being Art
During my last few weeks here in the Big Apple, I have taken myself to a few museums to really drench myself in culture and art. I am happily saturated.
In Vancouver, I have been working on a project to raise awareness and convince Vancouverites that the city needs a new, purpose-built gallery. About 90% of those to whom I speak are all for it. But it's the annoying 10% that is really pissing me off.
Here are some fun facts about the VAG:
- it only holds 3% of its collection. No museum showcases 100% but 3% is a bit ridiculous
- there is a permanent collection - in jail. That's right, in the vaults below the gallery (which used to house prisoners - it was a courthouse after all) sit our Carrs and Group of Sevens. The VAG rotates its' Carr permanent collection which doesn't enable tourists to guarantee a Carr sighting or for a Vancouverite to revisit a favourite painting years later
- 20 000 school kids were turned away last year due to lack of room to educate and inform
- there is no space dedicated to education for children or adults
- the vault/jail has leaks, mice, rats and pot smoke
- there is terrible security as the only doors to get art in are the same ones open to the general public
- those doors are too small to let larger exhibitions in
- the gallery is not climate controlled
- there is terrible handicap access
- if there was an earthquake the building would collapse straight down squishing not only art-lookers-atters but the art in the pot-smoke vault
The list goes on. And as you see, it's all building related. There is nothing wrong with our art.
Working at the gallery has really made me open my eyes to art and its importance to society.
I can't help but wonder: what would a world be like without art?
Let's just take the visual arts. I don't know that my day-to-day life is directly affected by Monet and Renoir.
Or is it?
Take the beauty of emotions, feelings, statements, politics, history, religion, and more that artists transcribe on to blank canvas. Isn't it possible to think that those watercolour strokes are the inspiration in how we choose the colour to paint our walls or how we place our furniture?
I mean, that's really a prosaic thing for art to inspire. It's true though.
In a world with no art we have no concept of beauty. Or what makes us feel. What inspires us. Art belongs not just in the visual playing field - but in our books, on our television, on our iPod. Sure, Paris Hilton's BFF is not exactly the best example of 'art' on television - however, it is a statement to our times. And that is what art is.
Okay, now I am on a tangent. Back to my point.
I am so disappointed with Vancouverites and their response to a new building. They are so attached to the current building (don't get me wrong - it's gorgeous. But it isn't doing its job anymore. Let it be a home for a new museum!) that they are unable to envision a future Vancouver.
Imagine a gallery on a rainy winters day. You take the escalator to the top floor where Emily Carr paintings hang lavishly on the walls. The room feels like you are in the very rain forests she painted - and with the tap-tap of raindrops on the window pane, her world suddenly becomes intensely real.
This is what art does.
A young teen asked me if we had a permanent collection wouldn't we get bored?
BORED?
She hasn't travelled the world yet to discover the joy of revisiting a work of art time and again.
In order to appreciate and develop a relationship with art, one must be able to grow and mature along with it.
As an example, I have been going to the National in London since I was 19 in 1999. There is a painting by Delaroche called 'The Execution of Lady Jane Grey'.
For whatever reason, this painting has always fascinated me. Her story has fascinated me. I can look at this painting and work through the emotions each person must be feeling. I can transport myself to that room.
Fast forward ten years. I have seen that painting on all my return trips to London. Just this spring I popped in briefly simply to say 'hello'.
The Impressionists are the same for me. Wherever I bump into them, I feel like I am meeting up with an old friend. 'Oh good afternoon Degas, lovely ballerina's today - I haven't seen this one before'. OR, 'Monet - I love how you make sunset at Big Ben look the way sitting on Westminster Bridge makes me feel'.
This is what art does.
Art needs to reach people. From a young age preferably. I remember holidays with my parents - them dragging me to art galleries all over the world. I was bored to tears mostly. However it's clearly done some good. I may have been bored, but I was still affected.
Art needs to reflect people. The VAG isn't showing off its potential. We do have world class art - BC style. It's just locked up.
In fact we just acquired this Arthur Lismer in the spring.
Where is it?
IN JAIL!
I urge you to close your eyes and think about a Vancouver in 2030. Next to the Queen E theatre and down the block from the library sits a beautiful building that reflects British Columbia as a place and people. The outdoor sculpture garden is teeming with children who are learning to make their own sculptures. Inside, a group of twenty-something aspiring artists share their sketches over hot tea and debate which medium is better: oil or pencil.
You are there too, a bit older, and even more in love with art. You smile as you pass the kids and the artists-to-be, on your way to visit your favourite painting. You need a bit of a pick-me-up after too many rainy Sundays. This painting always makes you smile. It makes you think of golden summers and the way leaves smell when they start turning orange. You remember seeing it for the first time with your mum, which reminds you to go visit her with some flowers. You remember the time you came after you had your heart broken and how the quiet loveliness of the gallery soothed you. You remember having a copy of it on your first apartment bedroom wall after university. When all your furniture was hand-me-downs and you still tacked posters to the walls. You remember bringing your daughter to see it for the first time and how she tried to make her own painting at home - on the kitchen door. You were mad then but now you smile. You've been through a lot, this painting and you.
Art makes memories.
Please please please take a minute to write to the mayor. All the actions you can do to help are on this website. Please remember that in the spirit of 2010 we have to work to make Vancouver as pretty on the inside as it is on the outside.
In Vancouver, I have been working on a project to raise awareness and convince Vancouverites that the city needs a new, purpose-built gallery. About 90% of those to whom I speak are all for it. But it's the annoying 10% that is really pissing me off.
Here are some fun facts about the VAG:
- it only holds 3% of its collection. No museum showcases 100% but 3% is a bit ridiculous
- there is a permanent collection - in jail. That's right, in the vaults below the gallery (which used to house prisoners - it was a courthouse after all) sit our Carrs and Group of Sevens. The VAG rotates its' Carr permanent collection which doesn't enable tourists to guarantee a Carr sighting or for a Vancouverite to revisit a favourite painting years later
- 20 000 school kids were turned away last year due to lack of room to educate and inform
- there is no space dedicated to education for children or adults
- the vault/jail has leaks, mice, rats and pot smoke
- there is terrible security as the only doors to get art in are the same ones open to the general public
- those doors are too small to let larger exhibitions in
- the gallery is not climate controlled
- there is terrible handicap access
- if there was an earthquake the building would collapse straight down squishing not only art-lookers-atters but the art in the pot-smoke vault
The list goes on. And as you see, it's all building related. There is nothing wrong with our art.
Working at the gallery has really made me open my eyes to art and its importance to society.
I can't help but wonder: what would a world be like without art?
Let's just take the visual arts. I don't know that my day-to-day life is directly affected by Monet and Renoir.
Or is it?
Take the beauty of emotions, feelings, statements, politics, history, religion, and more that artists transcribe on to blank canvas. Isn't it possible to think that those watercolour strokes are the inspiration in how we choose the colour to paint our walls or how we place our furniture?
I mean, that's really a prosaic thing for art to inspire. It's true though.
In a world with no art we have no concept of beauty. Or what makes us feel. What inspires us. Art belongs not just in the visual playing field - but in our books, on our television, on our iPod. Sure, Paris Hilton's BFF is not exactly the best example of 'art' on television - however, it is a statement to our times. And that is what art is.
Okay, now I am on a tangent. Back to my point.
I am so disappointed with Vancouverites and their response to a new building. They are so attached to the current building (don't get me wrong - it's gorgeous. But it isn't doing its job anymore. Let it be a home for a new museum!) that they are unable to envision a future Vancouver.
Imagine a gallery on a rainy winters day. You take the escalator to the top floor where Emily Carr paintings hang lavishly on the walls. The room feels like you are in the very rain forests she painted - and with the tap-tap of raindrops on the window pane, her world suddenly becomes intensely real.
This is what art does.
A young teen asked me if we had a permanent collection wouldn't we get bored?
BORED?
She hasn't travelled the world yet to discover the joy of revisiting a work of art time and again.
In order to appreciate and develop a relationship with art, one must be able to grow and mature along with it.
As an example, I have been going to the National in London since I was 19 in 1999. There is a painting by Delaroche called 'The Execution of Lady Jane Grey'.
For whatever reason, this painting has always fascinated me. Her story has fascinated me. I can look at this painting and work through the emotions each person must be feeling. I can transport myself to that room.
Fast forward ten years. I have seen that painting on all my return trips to London. Just this spring I popped in briefly simply to say 'hello'.
The Impressionists are the same for me. Wherever I bump into them, I feel like I am meeting up with an old friend. 'Oh good afternoon Degas, lovely ballerina's today - I haven't seen this one before'. OR, 'Monet - I love how you make sunset at Big Ben look the way sitting on Westminster Bridge makes me feel'.
This is what art does.
Art needs to reach people. From a young age preferably. I remember holidays with my parents - them dragging me to art galleries all over the world. I was bored to tears mostly. However it's clearly done some good. I may have been bored, but I was still affected.
Art needs to reflect people. The VAG isn't showing off its potential. We do have world class art - BC style. It's just locked up.
In fact we just acquired this Arthur Lismer in the spring.
Where is it?
IN JAIL!
I urge you to close your eyes and think about a Vancouver in 2030. Next to the Queen E theatre and down the block from the library sits a beautiful building that reflects British Columbia as a place and people. The outdoor sculpture garden is teeming with children who are learning to make their own sculptures. Inside, a group of twenty-something aspiring artists share their sketches over hot tea and debate which medium is better: oil or pencil.
You are there too, a bit older, and even more in love with art. You smile as you pass the kids and the artists-to-be, on your way to visit your favourite painting. You need a bit of a pick-me-up after too many rainy Sundays. This painting always makes you smile. It makes you think of golden summers and the way leaves smell when they start turning orange. You remember seeing it for the first time with your mum, which reminds you to go visit her with some flowers. You remember the time you came after you had your heart broken and how the quiet loveliness of the gallery soothed you. You remember having a copy of it on your first apartment bedroom wall after university. When all your furniture was hand-me-downs and you still tacked posters to the walls. You remember bringing your daughter to see it for the first time and how she tried to make her own painting at home - on the kitchen door. You were mad then but now you smile. You've been through a lot, this painting and you.
Art makes memories.
Please please please take a minute to write to the mayor. All the actions you can do to help are on this website. Please remember that in the spirit of 2010 we have to work to make Vancouver as pretty on the inside as it is on the outside.
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