Toys R Us built a kingdom and the world’s biggest toy store. Then, they lost it.

Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. In its heyday in th


Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. In its heyday in th
Toys R Us built a kingdom and the world’s biggest toy store. Then, they lost it. Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: lauren hirsch, eduardo munoz, jacques m chenet, corbis, getty images, scott mlyn, peter foley, bloomberg, jason alden
Keywords: news, cnbc, companies, written, toy, biggest, toys, worlds, built, went, store, lost, stores, lazarus, world, week, kingdom, important


Toys R Us built a kingdom and the world's biggest toy store. Then, they lost it.

The toy emporium that Charles P. Lazarus envisioned has been reduced to dusty floors and empty shelves.

Much has been said about the demise of the toy empire, which this week announced its plan to liquidate. There have been fingers pointed at corporate raiders, Amazon and big-box stores. All contributed to its undoing.

Ultimately, though, Toys R Us’ collapse is a story of loyalty run dry. The store in its early days fostered devotion from customers and toymakers. In the end, it lost hold on both.

Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. It didn’t invest in its stores, even as it was adding to the fleet, leaving it vulnerable when new competition moved in.

The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. By 1978, he had created a toy superstore large enough to become a public company.

In its heyday in the 1980s and 1990s, it was the most important toy store in the country, if not the world. Its strength grew as competitors Kiddie City and Child World went out of business.


Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: lauren hirsch, eduardo munoz, jacques m chenet, corbis, getty images, scott mlyn, peter foley, bloomberg, jason alden
Keywords: news, cnbc, companies, written, toy, biggest, toys, worlds, built, went, store, lost, stores, lazarus, world, week, kingdom, important


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All the space department stores take up could build 350 malls—that may be way too much

“Sears closures (which add to BonTon’s liquidation and closure of stores) have left landlords grappling with a wave of big-box vacancies that are expensive to re-tenant,” Green Street Advisors analyst DJ Busch said. Many U.S. mall owners, except for top-tier landlords Simon and Taubman, are “ill-equipped” to face an inevitable wave of more department store closures, he added. In 2019, it said, it will take an old Sears at Hamilton Place in Chattanooga and add a Dave & Buster’s. It’s also looking


“Sears closures (which add to BonTon’s liquidation and closure of stores) have left landlords grappling with a wave of big-box vacancies that are expensive to re-tenant,” Green Street Advisors analyst DJ Busch said. Many U.S. mall owners, except for top-tier landlords Simon and Taubman, are “ill-equipped” to face an inevitable wave of more department store closures, he added. In 2019, it said, it will take an old Sears at Hamilton Place in Chattanooga and add a Dave & Buster’s. It’s also looking
All the space department stores take up could build 350 malls—that may be way too much Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: lauren thomas, getty images, source, green street advisors
Keywords: news, cnbc, companies, mallsthat, mall, department, add, properties, wave, landlords, build, way, 350, sears, stores, owners, making, cbl, redevelopment, space


All the space department stores take up could build 350 malls—that may be way too much

“Sears closures (which add to BonTon’s liquidation and closure of stores) have left landlords grappling with a wave of big-box vacancies that are expensive to re-tenant,” Green Street Advisors analyst DJ Busch said. “The situation will deteriorate further before it gets better.”

Many U.S. mall owners, except for top-tier landlords Simon and Taubman, are “ill-equipped” to face an inevitable wave of more department store closures, he added. He cited companies like CBL, PREIT, Washington Prime Group and Macerich as examples of those that won’t have enough capital to redevelop anchor boxes at their properties “in a reasonable time period.” He anticipates more and more landlords will be forced to sell assets or look for other ways to raise capital, which could cut into profits.

Busch also warns that landlords with lower-quality malls, like CBL, are becoming increasingly distressed as they take on more debt to finance their lofty redevelopment plans. CBL — which is based in Chattanooga, Tennessee, and operates 141 properties — said Tuesday it was making “significant progress” on a slew of redevelopments, including one where it added a Round1 bowling and entertainment facility to Jefferson Mall in Louisville, Kentucky. In 2019, it said, it will take an old Sears at Hamilton Place in Chattanooga and add a Dave & Buster’s. It’s also looking to add casinos to some properties to replace department stores.

Mall owners are expected to talk more about their redevelopment strategies this week at the ICSC Deal Making conference in New York, which brings together retail landlords and tenants.


Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: lauren thomas, getty images, source, green street advisors
Keywords: news, cnbc, companies, mallsthat, mall, department, add, properties, wave, landlords, build, way, 350, sears, stores, owners, making, cbl, redevelopment, space


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Who said stores are dead? These 5 retailers are investing billions of dollars in bricks and mortar

Though shoppers are increasingly spending more time and money online, that doesn’t mean retailers should ignore their stores. That’s as Amazon — many retailers’ biggest threat today — is investing more in its own real estate and opening stores ranging from its cashier-less “Go” convenience shops, novelty “4 Star” locations and bookstores. And it was also reported earlier this week that Amazon could test its cashier-less technology for bigger stores, something that could further challenge traditi


Though shoppers are increasingly spending more time and money online, that doesn’t mean retailers should ignore their stores. That’s as Amazon — many retailers’ biggest threat today — is investing more in its own real estate and opening stores ranging from its cashier-less “Go” convenience shops, novelty “4 Star” locations and bookstores. And it was also reported earlier this week that Amazon could test its cashier-less technology for bigger stores, something that could further challenge traditi
Who said stores are dead? These 5 retailers are investing billions of dollars in bricks and mortar Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: lauren thomas, target ramps up toy department in time for the hol, source, tiffany, megan leonhardt
Keywords: news, cnbc, companies, investing, remodel, increasing, bricks, mortar, shops, online, retailers, stores, dollars, spending, industry, research, dead, billions


Who said stores are dead? These 5 retailers are investing billions of dollars in bricks and mortar

Though shoppers are increasingly spending more time and money online, that doesn’t mean retailers should ignore their stores. In fact, some of the biggest players in the industry are spending billions of dollars to remodel their existing shops, hoping to lure customers inside with more modern fixtures, easier checkout options and online order pickup kiosks. That’s as Amazon — many retailers’ biggest threat today — is investing more in its own real estate and opening stores ranging from its cashier-less “Go” convenience shops, novelty “4 Star” locations and bookstores. It’s also shaking up the grocery industry with its acquisition of Whole Foods, pushing companies like Kroger to think outside the box, or partner with other retailers, as they try to grow. And it was also reported earlier this week that Amazon could test its cashier-less technology for bigger stores, something that could further challenge traditional retailers.

“Brick-and-mortar retailers need to give consumers a reason to visit stores instead of making online purchases, and, to that end, an increasing number of companies have started investing in stores,” Hong Kong-based Coresight Research analyst Albert Chan said in a research note. “We expect an increase in retailers’ capital expenditures to remodel stores as the competition to attract store traffic intensifies against the backdrop of increasing penetration of e-commerce.”


Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: lauren thomas, target ramps up toy department in time for the hol, source, tiffany, megan leonhardt
Keywords: news, cnbc, companies, investing, remodel, increasing, bricks, mortar, shops, online, retailers, stores, dollars, spending, industry, research, dead, billions


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More trouble for malls: A new wave of closures from Gap, Victoria’s Secret and others

Now, a slew of specialty retailers like Gap and L Brands are getting serious about downsizing, which will leave more vacant storefronts within malls until landlords are able to replace tenants. And if retailers are not shutting stores, the focus is on negotiating with landlords over how to cut rent and other expenses. The comments come after Gap earlier this month warned it could shut hundreds of stores for its namesake brand “quickly” and “aggressively.” Victoria’s Secret has been viewed as dra


Now, a slew of specialty retailers like Gap and L Brands are getting serious about downsizing, which will leave more vacant storefronts within malls until landlords are able to replace tenants. And if retailers are not shutting stores, the focus is on negotiating with landlords over how to cut rent and other expenses. The comments come after Gap earlier this month warned it could shut hundreds of stores for its namesake brand “quickly” and “aggressively.” Victoria’s Secret has been viewed as dra
More trouble for malls: A new wave of closures from Gap, Victoria’s Secret and others Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: lauren thomas, scott mcintyre, bloomberg, getty images
Keywords: news, cnbc, companies, owners, leases, gap, brands, wave, secret, company, stores, trouble, malls, shut, told, closures, victorias, retailers, store


More trouble for malls: A new wave of closures from Gap, Victoria's Secret and others

Mall and shopping center owners across the U.S. are preparing to be hit by more store closures, following a brutal year that included department store chains like Bon-Ton and Sears going bankrupt, Toys R Us liquidating and even Walmart shutting dozens of its club stores.

Now, a slew of specialty retailers like Gap and L Brands are getting serious about downsizing, which will leave more vacant storefronts within malls until landlords are able to replace tenants.

And if retailers are not shutting stores, the focus is on negotiating with landlords over how to cut rent and other expenses. Real estate analysts say it’s the retailers, not the mall and shopping center owners, that still have the upper hand in most negotiations today.

“Our early read on 2019 is more of the same … with both malls and [shopping centers] facing another year of tepid earnings growth and store closure-related headwinds,” Mizuho analyst Haendel St. Juste said.

The CEO of clothing retailer Express, David Kornberg, told analysts Thursday morning the company is “benefiting from reduced occupancy costs, which are expected to continue based on recent lease negotiations.”

Express has 60 percent of its leases up for renewal over the next three years, and will be in a position to argue for slashed rents because of that, he said. Express currently has more than 600 stores, including outlets, across the U.S. and Puerto Rico.

The comments come after Gap earlier this month warned it could shut hundreds of stores for its namesake brand “quickly” and “aggressively.”

“There are hundreds of other stores that likely don’t fit our vision for the future of Gap brand specialty store, whether in terms of profitability, customer experience, traffic trends,” CEO Art Peck said.

Then, L Brands CFO Stuart Burgdoerfer told analysts earlier in November the company is going to “take a hard look” at its real estate “over the next several months.” He said L Brands hasn’t had much flexibility to shut stores of late, without incurring a penalty, as leases in the U.S. typically last for 10 years, and can be 15 years in the U.K. But he hinted the company hopes to take a more aggressive stance, moving forward.

“We’re doing some more purposed testing for Victoria’s [Secret] around closing some stores that may not be as obvious financially, but really observing the sales transfer effects,” Burgdoerfer said. Victoria’s Secret has been viewed as dragging down Bath & Body Works, which is also owned by L Brands and is seeing improved sales trends for its lotions and candles as its stores are being remodeled.

Bucking the trend, Abercrombie & Fitch said Thursday morning it plans to close fewer stores this year than it previously anticipated, based on a regained momentum of its apparel business. It’s now planning to shut just 40 locations in malls, compared with a previous target of 60. But it also still has 60 percent of its leases expiring by 2020, giving the company more flexibility in the coming months to sign better deals with property owners. Abercrombie currently has more than 850 stores globally, including those under the Hollister banner.

“I would say, we retain a lot of flexibility with our leases … based on lease expiration,” CEO Fran Horowitz told CNBC. “We work with our landlords. We negotiate with them.”

All things considered, U.S. mall owners like Simon, Macerich, Taubman, Seritage, Brookfield and Unibail-Rodamco-Westfield must look for new ways to fill these gaps, as there aren’t many retailers today opening new stores at the same size and scale as before the Great Recession.

Some are turning to co-working spaces, apartment complexes and health facilities to replace department stores. Others are building spaces that house multiple e-commerce brands on a rotating basis. There’s a wave of digital brands like Casper, Warby Parker and Untuckit opening bricks-and-mortar locations.

“We continue to believe that we’re still in the earlier stages of the reshaping of the retail landscape and facing a challenging backdrop marked by defensive landlords/weak pricing power, more anticipated store closures, and selective capital,” St. Juste said.


Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: lauren thomas, scott mcintyre, bloomberg, getty images
Keywords: news, cnbc, companies, owners, leases, gap, brands, wave, secret, company, stores, trouble, malls, shut, told, closures, victorias, retailers, store


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CVS creates new health-care giant as $69 billion merger with Aetna officially closes

Early next year, CVS plans to start testing stores with added health services. These new locations will likely focus on managing common chronic conditions, adding more primary health services at CVS’ MinuteClinics, guiding discharged hospital patients through their at-home plans and managing complex conditions. CVS needed final approval from state insurance regulators where Aetna sells its coverage. In the end, CVS was able to persuade the state regulators to sign off on the acquisition. This ca


Early next year, CVS plans to start testing stores with added health services. These new locations will likely focus on managing common chronic conditions, adding more primary health services at CVS’ MinuteClinics, guiding discharged hospital patients through their at-home plans and managing complex conditions. CVS needed final approval from state insurance regulators where Aetna sells its coverage. In the end, CVS was able to persuade the state regulators to sign off on the acquisition. This ca
CVS creates new health-care giant as $69 billion merger with Aetna officially closes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: angelica lavito, cameron costa
Keywords: news, cnbc, companies, regulators, plans, stores, closes, giant, billion, 69, merger, aetna, services, creates, state, healthcare, health, cvs, officially, approval, patients


CVS creates new health-care giant as $69 billion merger with Aetna officially closes

Consumers won’t immediately see any differences in their local stores, Merlo said. Early next year, CVS plans to start testing stores with added health services. These new locations will likely focus on managing common chronic conditions, adding more primary health services at CVS’ MinuteClinics, guiding discharged hospital patients through their at-home plans and managing complex conditions.

From there, CVS will evaluate and tweak new store formats as necessary before rolling them out broadly.

“We’ll be working hard so those opportunities will be coming as soon as possible,” he said.

The two companies announced the deal in December 2017 and received preliminary approval from the Department of Justice in October. CVS needed final approval from state insurance regulators where Aetna sells its coverage. A handful of states opposed the combination, saying it would reduce competition and could leave consumers worse off.

In the end, CVS was able to persuade the state regulators to sign off on the acquisition. To win approval from California, CVS agreed to a number of conditions, including not raising premiums as a result of acquisition costs and keeping premium increases to a minimum. This came after Aetna said it would sell its Medicare Part D drug plan business to WellCare Health Plans for an undisclosed amount in order ease concerns about the overlap between the CVS and Aetna Medicare Part D plans.

On its third-quarter earnings call Nov. 6, CVS said it expects to save more than $750 million within two years of the deal closing. Merlo has promised the combined company will create a new data-driven health-care model that’s more personal, convenient and tailored to individual patients than ever before.


Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: angelica lavito, cameron costa
Keywords: news, cnbc, companies, regulators, plans, stores, closes, giant, billion, 69, merger, aetna, services, creates, state, healthcare, health, cvs, officially, approval, patients


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Here is a look at the new store design Baskin-Robbins is testing

Baskin-Robbins is testing a new sleek and modern store format that will feature novelty snacks and prominent ice cream displays. The iconic ice cream brand unveiled its store design Wednesday in Fresno, California. He expects the company will open six to 10 locations in 2019, between new stores and remodels, and a second concept Baskin-Robbins store will open in El Paso, Texas in early 2019. Dunkin’, which shares an owner with Baskin-Robbins in Dunkin’ Brands, is in the midst of a $100 million i


Baskin-Robbins is testing a new sleek and modern store format that will feature novelty snacks and prominent ice cream displays. The iconic ice cream brand unveiled its store design Wednesday in Fresno, California. He expects the company will open six to 10 locations in 2019, between new stores and remodels, and a second concept Baskin-Robbins store will open in El Paso, Texas in early 2019. Dunkin’, which shares an owner with Baskin-Robbins in Dunkin’ Brands, is in the midst of a $100 million i
Here is a look at the new store design Baskin-Robbins is testing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: kate rogers, photo, vinni hoke
Keywords: news, cnbc, companies, concept, testing, prominent, design, dunkin, baskinrobbins, wanted, open, locations, look, store, stores


Here is a look at the new store design Baskin-Robbins is testing

Baskin-Robbins is testing a new sleek and modern store format that will feature novelty snacks and prominent ice cream displays.

The iconic ice cream brand unveiled its store design Wednesday in Fresno, California. The company is planning for a nationwide rollout in 2019, during a time when restaurant players from McDonald’s to Starbucks are creating experiences for customers that are both modern and indelible with new and upgraded stores.

“We’ve done a lot of consumer research and wanted to create a design that reflects what Baskin-Robbins is — a place where guests can come and unwind and create memories with family and friends,” says Jason Maceda, senior vice president of Baskin-Robbins U.S. & Canada. He expects the company will open six to 10 locations in 2019, between new stores and remodels, and a second concept Baskin-Robbins store will open in El Paso, Texas in early 2019.

Dunkin’, which shares an owner with Baskin-Robbins in Dunkin’ Brands, is in the midst of a $100 million investment in its U.S. businesses, including its own next-generation concept stores. Dunkin’ opened 60 of its revamped locations by the end of the third quarter, surpassing its initial goal having 50 by the end of the year.

Baskin-Robbins declined to comment on the size of the investment it is making.

Maceda said there are some 1,300 stores within the system that are Dunkin’ and Baskin-Robbins combined locations, and the brands will be testing new concepts for those in the next year. Both concept stores feature more prominent displays for consumers and modernized touches.

“We wanted to make sure, like Dunkin’, we got this right before we rolled it out,” Maceda said.

Here’s a peek at Baskin-Robbins’ new look:


Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: kate rogers, photo, vinni hoke
Keywords: news, cnbc, companies, concept, testing, prominent, design, dunkin, baskinrobbins, wanted, open, locations, look, store, stores


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Cyber Monday sales break a record, with $7.9 billion spent online, Adobe Analytics says

Cyber Monday sales this year surged to new highs, with a record $7.9 billion spent online that day, an increase of 19.3 percent from a year ago, according to data from Adobe Analytics. That’s after Black Friday pulled in a record $6.22 billion in e-commerce sales, while sales online Thanksgiving Day totaled $3.7 billion. Amazon, which is expected to capture nearly half of the U.S. e-commerce market by year’s end, said it had a “record-breaking” holiday weekend for sales. Kohl’s, which has partne


Cyber Monday sales this year surged to new highs, with a record $7.9 billion spent online that day, an increase of 19.3 percent from a year ago, according to data from Adobe Analytics. That’s after Black Friday pulled in a record $6.22 billion in e-commerce sales, while sales online Thanksgiving Day totaled $3.7 billion. Amazon, which is expected to capture nearly half of the U.S. e-commerce market by year’s end, said it had a “record-breaking” holiday weekend for sales. Kohl’s, which has partne
Cyber Monday sales break a record, with $7.9 billion spent online, Adobe Analytics says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: lauren thomas, adam jeffery
Keywords: news, cnbc, companies, spent, sales, retailers, stores, weekend, day, record, cyber, billion, black, break, 79, holiday, analytics, shoppers, online, adobe


Cyber Monday sales break a record, with $7.9 billion spent online, Adobe Analytics says

Cyber Monday sales this year surged to new highs, with a record $7.9 billion spent online that day, an increase of 19.3 percent from a year ago, according to data from Adobe Analytics.

That’s after Black Friday pulled in a record $6.22 billion in e-commerce sales, while sales online Thanksgiving Day totaled $3.7 billion.

Though foot traffic at some malls and stores was down over the holiday weekend, more and more shoppers have been turning to the internet to hunt for deals, and overall holiday sales are still expected to be up in 2018. Consumer confidence remains high, while unemployment is low in the U.S., giving many people the ability to spend more this year than last.

Spending on smartphones, meanwhile, continues to climb at a rapid clip, as companies like Macy’s and Target have poured money into improving their mobile apps. And as bricks-and-mortar retail traffic continues to fall, some retailers are now trying to find ways to use their apps to lure shoppers back to stores, where sales are typically more profitable. Walmart, as one example, has added store maps to its app ahead of the holidays, letting customers pinpoint exactly where an item is and plot out their trips before they arrive.

Transactions on mobile devices were up 55.6 percent Cyber Monday from last year to reach $2.2 billion in sales, said Adobe, which tracks sales data from 80 of the top 100 internet retailers in the U.S., including Amazon and Walmart. More than half of shoppers’ visits to retailers’ websites Cyber Monday came from smartphones, with people making greater use of shipping options like buy online, pick up in store. So-called click-and-collect orders were up 65 percent this Cyber Monday from last year, Adobe said.

Amazon, which is expected to capture nearly half of the U.S. e-commerce market by year’s end, said it had a “record-breaking” holiday weekend for sales. It said Cyber Monday marked the biggest shopping day in its history, based on the number of items sold, though it didn’t provide specific sales numbers beyond that. The company said shoppers bought more than 18 million toys and more than 13 million fashion items from Amazon Black Friday and Cyber Monday combined.

Kohl’s, which has partnered with Amazon to accept Amazon returns in some of its stores, said last week it had a record day for sales online Thanksgiving Day. The retailer kicked off some deals online ahead of the weekend, and it wasn’t the only one to do this, either. Many companies were seen pushing promotions earlier this year, turning Black Friday as a single day into more of a weeks-long shopping extravaganza.

“With holiday offerings and promotions starting just after Halloween, Black Friday didn’t have the same sense of urgency as in the past,” Telsey Advisory Group analyst Dana Telsey said.

Kohl’s didn’t immediately return calls seeking comment on how the rest of its holiday shopping weekend shaped up.

Now, with a little more than a month to go before the end of 2018, retailers will try to keep the momentum going, both online and in stores. Though many companies are expecting strong fourth quarters, there’s some concern the sales growth won’t be sustainable into 2019, especially if the U.S. economy’s strength starts to fade or consumers lose confidence.

“The key takeaway is that shoppers and stores alike will have a happy holiday this year — assuming retailers can maintain their margin discipline,” said Craig Johnson, head of consulting group Customer Growth Partners. “Looking forward, the key issue is whether this pace can be sustained into the new year and beyond.”

Analysts are watching to see that retailers don’t discount excess inventory too steeply in the coming weeks, which can weigh on profits. Though the tactic helps get merchandise out the door, it can come back to haunt a company at the start of a new year.


Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: lauren thomas, adam jeffery
Keywords: news, cnbc, companies, spent, sales, retailers, stores, weekend, day, record, cyber, billion, black, break, 79, holiday, analytics, shoppers, online, adobe


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Fewer people shopped during the 5-day Thanksgiving weekend, but holiday sales seen as strong

Ninety-two percent of consumers think the deals they saw during Thanksgiving weekend will either continue or improve for the remainder of the year. And increasingly, consumers are using the five-day holiday weekend to buy for themselves, he added. And more and more of those dollars are being spent online. It’s already been reported that this year a record $6.22 billion was spent online Black Friday, with $3.7 billion spent online Thanksgiving Day. Cyber Monday was the most popular day to shop on


Ninety-two percent of consumers think the deals they saw during Thanksgiving weekend will either continue or improve for the remainder of the year. And increasingly, consumers are using the five-day holiday weekend to buy for themselves, he added. And more and more of those dollars are being spent online. It’s already been reported that this year a record $6.22 billion was spent online Black Friday, with $3.7 billion spent online Thanksgiving Day. Cyber Monday was the most popular day to shop on
Fewer people shopped during the 5-day Thanksgiving weekend, but holiday sales seen as strong Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: lauren thomas, kena betancur, getty images
Keywords: news, cnbc, companies, online, spent, sales, fewer, weekend, day, 5day, stores, shop, nrf, seen, cyber, holiday, shopped, thanksgiving, strong


Fewer people shopped during the 5-day Thanksgiving weekend, but holiday sales seen as strong

With discounts starting early and more days to shop before Christmas this year, fewer people turned out for the five-day shopping extravaganza that runs from Thanksgiving Day to Cyber Monday, a retail industry trade group said Tuesday.

But holiday shoppers still have long lists of gifts to buy and plenty of days to do it, giving the National Retail Federation confidence it will be a robust holiday season.

“This was a very strong holiday weekend … and a very positive indicator of where we are headed,” Bill Thorne, senior vice president for communications and public affairs at NRF, said during a call with members of the media Tuesday afternoon.

More than 165 million Americans shopped either online or in stores from Thanksgiving Day to Cyber Monday this year, down from more than 174 million in 2017, NRF revealed. The industry’s trade group is still calling for holiday sales to increase between 4.3 percent and 4.8 percent, emphasizing Tuesday it expects growth will come on the higher end of that range.

Shoppers say they still have more than half, or 56 percent, of their holiday shopping left to do, NRF found in polling 3,058 consumers between Nov. 24 and 25. Ninety-two percent of consumers think the deals they saw during Thanksgiving weekend will either continue or improve for the remainder of the year.

“Consumers now view the holiday season as two months,” starting around Halloween, Thorne said. And increasingly, consumers are using the five-day holiday weekend to buy for themselves, he added. NRF found self-gifting to be up 13 percent from a year ago.

The average shopper spent $313.29 on gifts and other holiday items from Thanksgiving Day to Cyber Monday, according to NRF, down from $335.47 last year. And more and more of those dollars are being spent online. NRF said more than 89 million people shopped both online and in stores this holiday season, up roughly 40 percent from a year ago.

It’s already been reported that this year a record $6.22 billion was spent online Black Friday, with $3.7 billion spent online Thanksgiving Day. Shoppers are seen turning to their smartphones to make purchases around the holidays, especially younger consumers, as retailers improve their mobile apps. Social media sites such as Instagram, Snapchat and Pinterest are also making it easier for people to shop directly within those apps.

The top destinations for shopping this past weekend, according to NRF’s survey, were department stores (42 percent), online retailers (38 percent) and apparel retailers (30 percent). Cyber Monday was the most popular day to shop online, while Black Friday was the most popular day to shop in stores.


Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: lauren thomas, kena betancur, getty images
Keywords: news, cnbc, companies, online, spent, sales, fewer, weekend, day, 5day, stores, shop, nrf, seen, cyber, holiday, shopped, thanksgiving, strong


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Black Friday, Thanksgiving foot traffic drops 1 percent: ShopperTrak

Preliminary data tracking shoppers’ visits to physical stores Thanksgiving Day and Black Friday showed a year-over-year decline of 1 percent, ShopperTrak said. Meanwhile, store visits Black Friday by itself were down 1.7 percent. In 2017, for example, visits to physical stores Thanksgiving Day and Black Friday were down 1.6 percent. Like other analysts, Field also said he noticed heavier traffic on Thanksgiving Day in particular. “There was a huge amount of traffic on Thanksgiving Day, but in a


Preliminary data tracking shoppers’ visits to physical stores Thanksgiving Day and Black Friday showed a year-over-year decline of 1 percent, ShopperTrak said. Meanwhile, store visits Black Friday by itself were down 1.7 percent. In 2017, for example, visits to physical stores Thanksgiving Day and Black Friday were down 1.6 percent. Like other analysts, Field also said he noticed heavier traffic on Thanksgiving Day in particular. “There was a huge amount of traffic on Thanksgiving Day, but in a
Black Friday, Thanksgiving foot traffic drops 1 percent: ShopperTrak Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-24  Authors: lauren thomas, gustavo caballero, getty images for target
Keywords: news, cnbc, companies, drops, store, shoppertrak, sales, day, thanksgiving, foot, black, stores, online, shopping, traffic, visits


Black Friday, Thanksgiving foot traffic drops 1 percent: ShopperTrak

Foot traffic at malls and stores across the U.S. this past holiday weekend wasn’t as strong as last year, a retail tracking firm said Saturday, while a separate report suggested more consumers opted to shop online.

Preliminary data tracking shoppers’ visits to physical stores Thanksgiving Day and Black Friday showed a year-over-year decline of 1 percent, ShopperTrak said. Meanwhile, store visits Black Friday by itself were down 1.7 percent.

“We know that online sales … has certainly eroded traffic from retailers over the years,” Brian Field, senior director of advisory services for ShopperTrak, told CNBC. “But what we have noticed is that the decline is starting to flatten out.” In 2017, for example, visits to physical stores Thanksgiving Day and Black Friday were down 1.6 percent.

Black Friday is still expected to be the busiest shopping day of the year, Field said, despite the small dip in visits to stores. He added that shopping was relatively evenly spread all across the country Thanksgiving Day and Black Friday, with no one geography seeing a stronger spike in traffic, despite cold weather blanketing much of the Northeast.

Like other analysts, Field also said he noticed heavier traffic on Thanksgiving Day in particular.

“There was a huge amount of traffic on Thanksgiving Day, but in a very concentrated time frame,” he said. “It’s from when that store opens until basically all of those hot commodity items are gone. … Then it really calms down.”

Meanwhile, online sales reached a record of $6.22 billion Black Friday, according to Adobe Analytics, while online sales Thanksgiving Day totaled $3.7 billion, up 28 percent from a year ago and becoming the fastest-growing day for e-commerce sales in history.

The ease of shopping from a computer at home or from a retailers’ app on one’s smartphone is enticing more shoppers to skip the store and buy online. But Adobe also called out this holiday weekend more consumers are opting to buy items online and pick them up in stores. This could entail foot traffic picking up later in the season, when shoppers come in to pick up items they’ve already purchased on the internet, and potentially buy more.

Additional “busy” shopping days this year, according to ShopperTrak, include the third Saturday in December, Dec. 15, and the Sunday before Christmas, Dec. 23.

Overall, the National Retail Federation is calling for holiday sales to climb within a range of 4.3 to 4.8 percent, which would be better than a five-year average of growth of 3.9 percent.


Company: cnbc, Activity: cnbc, Date: 2018-11-24  Authors: lauren thomas, gustavo caballero, getty images for target
Keywords: news, cnbc, companies, drops, store, shoppertrak, sales, day, thanksgiving, foot, black, stores, online, shopping, traffic, visits


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The stock market’s woes could weigh on the holiday shopping season

From turkey to the malls, more than 164 million Americans figured to hit the stores between Thanksgiving and Cyber Monday according to the National Retail Federation. But how will the retailers fare the rest of the holiday season? “I don’t think the consumer could be healthier,” retail consultant Jan Kniffen told CNBC’s “On the Money” in an interview. Kniffen said there have been studies done that show “the correlation between retail sales in the holiday season and the S&P 500 are pretty high.”


From turkey to the malls, more than 164 million Americans figured to hit the stores between Thanksgiving and Cyber Monday according to the National Retail Federation. But how will the retailers fare the rest of the holiday season? “I don’t think the consumer could be healthier,” retail consultant Jan Kniffen told CNBC’s “On the Money” in an interview. Kniffen said there have been studies done that show “the correlation between retail sales in the holiday season and the S&P 500 are pretty high.”
The stock market’s woes could weigh on the holiday shopping season Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-24  Authors: erin barry
Keywords: news, cnbc, companies, stores, holiday, season, weigh, retail, woes, stock, kniffen, markets, store, retailers, toys, national, things, shopping, sp


The stock market's woes could weigh on the holiday shopping season

From turkey to the malls, more than 164 million Americans figured to hit the stores between Thanksgiving and Cyber Monday according to the National Retail Federation. But how will the retailers fare the rest of the holiday season?

“I don’t think the consumer could be healthier,” retail consultant Jan Kniffen told CNBC’s “On the Money” in an interview. “Rising wages, they’re all working, unemployment at a 50-year low, the consumer’s got no problems unless the S&P 500 is a problem.”

In the past two months, stocks have taken a beating with the S&P 500 down around 10 percent. Kniffen said there have been studies done that show “the correlation between retail sales in the holiday season and the S&P 500 are pretty high.” But he’s hoping this year will be different because everything else, including low energy costs and credit scores, is going right.

For the first time ever, the average national FICO score reached 704. Kniffen predicts brick and mortar retailers will see 5.5 percent growth in holiday sales over last year.

The consultant said retailers including Kohl’s, Macy’s, Nordstrom’s and Walmart are putting in place strategies to give consumers what they want, when they want it — such as curbside pickup, returning online orders in stores and buying online with in store pickup.

But all of this costs money.

“Getting the customer into the store is more expensive than it used to be,” Kniffen said. “And those things are showing up in their numbers.”

But he says, “Overall this is about as good as we’ve seen these retailers perform since the internet was invented.”

As for toy stores, this is the first holiday season without a national toy brand since Toys R Us declared bankruptcy at the end of last year and closed all of its stores this year.

“Unfortunately the only time you can make money in toys is the fourth quarter and Walmart and Target won’t let you, and now Amazon won’t let you. [Toys R Us] was overleveraged, but they were going to struggle either way,” Kniffen said.

But it’s not all bad news — FAO Schwarz recently opened a new store at Rockefeller Center in New York City with plans to open a few more stores in the future. Kniffen said FAO Schwarz can be successful because it can build a handful of stores and is making the time in the store fun with experiences such as Build a Bear Workshop and a baby doll adoption center.

“They’ve got all these things you can be engaged in if you’re the kid,” Kniffen said. “That’s the kind of things you have to do to stay relevant in retail.”

On the Money airs on CNBC Saturday at 5:30 am ET, or check listings for air times in local markets.


Company: cnbc, Activity: cnbc, Date: 2018-11-24  Authors: erin barry
Keywords: news, cnbc, companies, stores, holiday, season, weigh, retail, woes, stock, kniffen, markets, store, retailers, toys, national, things, shopping, sp


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