Industry Headlines: May 28
Malls stage events to make play for people’s shopping dollars
Chicago Tribune, US
With money tight these days, Julie Liu shops only when she needs a specific item — a dress for a work event or a replacement tube of mascara.”It’s very focused shopping,” Liu said. “I just don’t stroll around the mall looking aimlessly.” But when the 28-year-old jewelry designer found herself at the Shops at North Bridge in May attending a Step Up Women’s Network charity event, the shopping bug made an unexpected appearance …
Shopping Centers Eyeball New Green Technology
GlobeST, US
A combination of old centers and new green technology could result in major savings for shopping center developers, said speakers at ICSC’s RECon meeting, which concluded here yesterday. With many malls now hitting the quarter-century mark, opportunity exists to improve sustainability on a number of levels …
Civil liberties council slams shopping centre curfew
ABC, AU
The Queensland Council for Civil Liberties has slammed a move by a Mackay shopping centre to impose a youth curfew. As part of a three month trial, young people are not allowed to be in the Mount Pleasant Shopping Centre after 7:00pm, unless they are shopping or accompanied by an adult …
Consumer Confidence Wows Wall Street
Commercial Property News, US
Happy days are here again? Or maybe the American consumer isn’t quite that optimistic, but instead is simply glad things don’t seem to be getting a lot worse. In any case, the Conference Board reported on Tuesday that its index of consumer confidence shot up in May to 54.9 from a revised 40.8 in April, marking the largest one-month jump in the index since April 2003 …
BCSC calls for collaboration to unblock property pipeline
Retail Week, UK
Retailers are facing a serious threat from a breakdown in the property pipeline unless the private and public sectors take a more collaborative approach to planning, the British Council of Shopping Centres has told a group of MPs …
General Growth Won’t Sell at Discount, Taubman Says
Bloomberg, US
General Growth Properties Inc., the mall owner that filed the biggest real-estate bankruptcy in U.S. history, may not have to sell any malls at discounted prices, said the head of rival Taubman Centers Inc. …
Simon Properties has lots of cash, flexibility despite weak economy
IndyStar, US
Here’s Simon Property Group’s survival strategy for these taxing times:
Hoard cash, hack away at costs and hunker down with its vast property holdings. The strategy, more akin to that of a life insurer than a mall developer, seems to be paying off …
