VMSD - January 2018 - 16
Traditional department
stores like Macy's are
monetizing their real
estate holdings, selling
off assets to raise cash
against declining sales.
16
January 2018
|
vmsd.com
UN-REAl ESTATE
Though it may appear as if most store closings are in
malls, there is also flux on commercial streets, especially among urban department stores.
Last fall, Hudson's Bay Co. (Toronto) sold Lord &
Taylor's 103-year-old Fifth Avenue store in New York
to coworking and office space outfit WeWork Co.
(New York). Reportedly, Lord & Taylor will rent the
street level and additional space equal to about 25
percent of the building, with WeWork's headquarters
occupying the rest.
Macy's Inc. (Cincinnati) has announced a similar
intention for excess space in its Chicago flagship store,
the former Marshall Field's.
"It makes sense," says Palmer. "Nobody goes up to
the eighth floor to buy a wedding gift anymore. These
big department stores will see their dollar-per-squarefoot go up as they concentrate on just two or three
floors."
But there's a risk.
"When department store chains close individual stores, it diminishes their brand presence," says
Spieckerman. "Having fewer stores has the potential
to limit these retailers' online sales. Shoppers need to
know that these companies are still in business, and
physical stores are the most powerful way of messaging that. Retailers also have to insure that their brand,
not just the brands they carry, pops up in Google
searches."
Stein insists department store executives are
focusing on the wrong things - operations, merchandise density, making it to the next quarter, pleasing
shareholders. "As they're losing customers," he says,
"they're trying to save themselves by diminishing the
amount of service - everything that was great about
the department stores in the beginning. They're playing a losing game in the race to the bottom. Their real
estate is worth more than their businesses. That's a
sad state of affairs."
Sometime this year, we'll probably hear more apocalyptic predictions about retailing. And stores will close,
and some companies might declare bankruptcy. But
retail is still about selling - meeting consumers' needs
- and those companies that grasp the synergies of
physical and online retailing, and what people want and
expect from both channels, will continue to avoid any
apocalypse, real or imagined, that comes our way.
s hutte rs toc k. c om
TRENDS FORECAST 2018
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Table of Contents for the Digital Edition of VMSD - January 2018
VMSD - January 2018
Contents
From the Editor
VMSD Editorial Advisory Board
Annual Retail Trends Forecast
Props + Decoratives
Lighting
Sonneman – a Way of Light’s Robert Sonneman
Mannequins + Forms
Materials + Wallcoverings
Furniture
Cgm Design’s Carl Gustav Magnusson
Fixtures
Project Duo’s Randal Huntington
Flooring
Signage + Graphics
In-Store Tech + Services
Best of the Rest
Ad Index
Lasting Impression
VMSD - January 2018 - Intro
VMSD - January 2018 - BB1
VMSD - January 2018 - BB2
VMSD - January 2018 - VMSD - January 2018
VMSD - January 2018 - Cover2
VMSD - January 2018 - 1
VMSD - January 2018 - Contents
VMSD - January 2018 - 3
VMSD - January 2018 - From the Editor
VMSD - January 2018 - 5
VMSD - January 2018 - VMSD Editorial Advisory Board
VMSD - January 2018 - 7
VMSD - January 2018 - 8
VMSD - January 2018 - 9
VMSD - January 2018 - Annual Retail Trends Forecast
VMSD - January 2018 - 11
VMSD - January 2018 - 12
VMSD - January 2018 - 13
VMSD - January 2018 - 14
VMSD - January 2018 - 15
VMSD - January 2018 - 16
VMSD - January 2018 - 17
VMSD - January 2018 - Props + Decoratives
VMSD - January 2018 - 19
VMSD - January 2018 - 20
VMSD - January 2018 - 21
VMSD - January 2018 - Lighting
VMSD - January 2018 - 23
VMSD - January 2018 - 24
VMSD - January 2018 - 25
VMSD - January 2018 - 26
VMSD - January 2018 - 27
VMSD - January 2018 - Sonneman – a Way of Light’s Robert Sonneman
VMSD - January 2018 - 29
VMSD - January 2018 - 30
VMSD - January 2018 - 31
VMSD - January 2018 - Mannequins + Forms
VMSD - January 2018 - T1
VMSD - January 2018 - T2
VMSD - January 2018 - T3
VMSD - January 2018 - T4
VMSD - January 2018 - T5
VMSD - January 2018 - T6
VMSD - January 2018 - T7
VMSD - January 2018 - T8
VMSD - January 2018 - T9
VMSD - January 2018 - T10
VMSD - January 2018 - T11
VMSD - January 2018 - T12
VMSD - January 2018 - T13
VMSD - January 2018 - T14
VMSD - January 2018 - T15
VMSD - January 2018 - T16
VMSD - January 2018 - T17
VMSD - January 2018 - T18
VMSD - January 2018 - T19
VMSD - January 2018 - T20
VMSD - January 2018 - 33
VMSD - January 2018 - 34
VMSD - January 2018 - 35
VMSD - January 2018 - 36
VMSD - January 2018 - 37
VMSD - January 2018 - 38
VMSD - January 2018 - 39
VMSD - January 2018 - 40
VMSD - January 2018 - 41
VMSD - January 2018 - Materials + Wallcoverings
VMSD - January 2018 - 43
VMSD - January 2018 - 44
VMSD - January 2018 - 45
VMSD - January 2018 - 46
VMSD - January 2018 - 47
VMSD - January 2018 - 48
VMSD - January 2018 - 49
VMSD - January 2018 - 50
VMSD - January 2018 - 51
VMSD - January 2018 - Furniture
VMSD - January 2018 - 53
VMSD - January 2018 - 54
VMSD - January 2018 - Cgm Design’s Carl Gustav Magnusson
VMSD - January 2018 - 56
VMSD - January 2018 - 57
VMSD - January 2018 - Fixtures
VMSD - January 2018 - 59
VMSD - January 2018 - 60
VMSD - January 2018 - OP1
VMSD - January 2018 - OP2
VMSD - January 2018 - OP3
VMSD - January 2018 - OP4
VMSD - January 2018 - OP5
VMSD - January 2018 - OP6
VMSD - January 2018 - OP7
VMSD - January 2018 - OP8
VMSD - January 2018 - OP9
VMSD - January 2018 - OP10
VMSD - January 2018 - OP11
VMSD - January 2018 - OP12
VMSD - January 2018 - OP13
VMSD - January 2018 - OP14
VMSD - January 2018 - OP15
VMSD - January 2018 - OP16
VMSD - January 2018 - OP17
VMSD - January 2018 - OP18
VMSD - January 2018 - OP19
VMSD - January 2018 - OP20
VMSD - January 2018 - 61
VMSD - January 2018 - 62
VMSD - January 2018 - 63
VMSD - January 2018 - 64
VMSD - January 2018 - 65
VMSD - January 2018 - 66
VMSD - January 2018 - 67
VMSD - January 2018 - 68
VMSD - January 2018 - Project Duo’s Randal Huntington
VMSD - January 2018 - 70
VMSD - January 2018 - 71
VMSD - January 2018 - Flooring
VMSD - January 2018 - 73
VMSD - January 2018 - 74
VMSD - January 2018 - 75
VMSD - January 2018 - 76
VMSD - January 2018 - 77
VMSD - January 2018 - Signage + Graphics
VMSD - January 2018 - 79
VMSD - January 2018 - 80
VMSD - January 2018 - 81
VMSD - January 2018 - 82
VMSD - January 2018 - 83
VMSD - January 2018 - 84
VMSD - January 2018 - 85
VMSD - January 2018 - In-Store Tech + Services
VMSD - January 2018 - 87
VMSD - January 2018 - 88
VMSD - January 2018 - 89
VMSD - January 2018 - Ad Index
VMSD - January 2018 - 91
VMSD - January 2018 - Lasting Impression
VMSD - January 2018 - 93
VMSD - January 2018 - 94
VMSD - January 2018 - 95
VMSD - January 2018 - 96
VMSD - January 2018 - Cover3
VMSD - January 2018 - Cover4
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