Lord & Taylor, one of the oldest department stores in the United States, will go out of business and shutter its 38 locations, marking the end of its 194-year run. It’s the latest retailer to fall during the coronavirus pandemic. The move comes just weeks after Lord & Taylor filed for … [Read more...] about 8.19.20: LORD & TAYLOR CLOSING ALL STORES AS IT GOES OUT OF BUSINESS
In what is one of the biggest global acquisitions to be announced this year, Marathon Petroleum Corp. has agreed to sell its chain of Speedway convenience stores and gas stations to 7-Eleven for $21 billion in cash. The transaction is expected to close in the first quarter of 2021, subject to … [Read more...] about 7.19.20: 7-ELEVEN TO BUY MARATHON PETROLEUM’S SPEEDWAY STORES FOR $21 BILLION
While the so-called “retail apocalypse” is undeniably wreaking havoc in the shopping industry, not all physical retailers are floundering. Some retailers have big expansions in the works. Most of the retailers that are expanding are discounters, including dollar stores and chains full of random … [Read more...] about 8.1.19: Enough About Closures, Who Is Opening New Retail Stores?
Mall owners Simon Property (NYSE: SPG) and Macerich Company (NYSE: MAC) continue to redevelop vacant department stores, creating substantial value for shareholders. In a recent earnings call, Simon reported that redevelopment activity is moving quickly, and in some cases, much quicker than … [Read more...] about 4.18.19: Mall Giants Continue to Redevelop Vacant Department Stores
Toys “R” Us filed a motion today in bankruptcy court to liquidate inventory and close all its stores. The retailer had filed for Chapter 11 bankruptcy in September 2017, resulting from vendors demanding cash payments in advance of merchandise shipments. At the time of the filing, the company … [Read more...] about 3.15.18: Toys “R” Us to Close Stores and Liquidate
With reports of department store closings now routine, particularly in mall locations, mall owners are actively redeveloping these spaces for alternative uses in strong markets. CBL & Associates recently redeveloped a vacant Sears store at Fayette Mall in Lexington, Kentucky, into a total of 20 … [Read more...] about 6.5.17: Redevelopment Strategies for Former Department Stores