August 19, 2016 |
Shares of Philadelphia's Urban Outfitters shot up Wednesday after the firm, citing strong inventory management, posted strong second-quarter earnings. The company behind the brands Urban Outfitters, Free People, and Anthropologie, among others, topped Wall Street analysts' estimates for second-quarter sales and profit. Urban Outfitters Inc. posted second-quarter profit of 66 cents a share, compared with an estimate of 55 cents. Its revenue was $890.6 million, exceeding Wall Street's $885.6 million projection.
August 2, 2016 |
First in an occasional series on recruiting In retailing, "e-commerce is driving the bus," said Ann Burton, founder of Wolfgang Harbor, a boutique Philadelphia-based company that recruits upper management in fashion, beauty, design, e-commerce, and retailing. When it comes to employment trends, specialty recruiters such as Burton are on the front lines of what is in demand in their sectors. In the United States., nearly 16 million people work in retailing and, Burton said, what is developing are twin career tracks - online and in-store - that used to be separate but are now increasingly intertwined.
July 17, 2016 |
Four years ago, a classic yellow school bus gave online eyewear company Warby Parker the confidence to open brick-and-mortar stores. On Friday the bus returned to town enabling Warby to sell eyewear in the park across from the Philadelphia Museum of Art. A half-dozen people had climbed aboard the Warby Parker Class Trip bus at Eakins Oval just before 1 p.m. to try on glasses, with an optician on hand to take measurements and write prescriptions....
June 30, 2016 |
How do you top Jimmy Choo? You don't. Instead, you bring in more heavy hitters to complement the designer-shoe maven. Like eyewear retailer Oliver Peoples, Italian apparel retailer Bottega Veneta, upscale brand Rag & Bone, and luxury Italian furniture retailer Calligaris. They were all announced on Tuesday as tenants that will be moving into King of Prussia's new corridor, which is due to debut Aug. 18. The 155,000-square-foot corridor is to house 50 new retailers, half of which are considered luxury brands, including those named Tuesday by Simon Property Group's mall division president, David Contis.
June 25, 2016 |
Amazon as clothes horse: Who would've thought it? The online leviathan is emerging as the nation's top online fashion retailer, according to a new report by 1010data Consumer Purchase Panel, a New York-based analytics platform and data provider. The downward spiral of such department store chains as Macy's and the Gap is largely due to Amazon.com's growing might as an apparel powerhouse, said the report, which backs up an earlier analysis by Morgan Stanley. Amazon fashion sales from January to April of this year were up 70 percent compared with the same period in 2014, while total units sold were up 89 percent, according to the 1010data report, which will be released on 1010data's blog next week.
June 19, 2016 |
How should the developer of a luxury apartment complex compensate the city for reneging on an agreement to set aside 25 apartments for low-income Philadelphians? City housing advocates think the only fair solution is for PMC Property Group to pay a penalty to Philadelphia's Housing Trust Fund, to the tune of $5 million, for breaking the agreement, which earned its apartment project a 48-foot height bonus. The developer has other ideas. This week, PMC submitted what is effectively a new zoning application for One Water Street, a 16-story apartment building on the Delaware riverfront, next to the Ben Franklin Bridge.
June 14, 2016 |
To sell more gear, Cabela's simulates the Great Outdoors. Live game fish school in glass-walled aquariums, and stuffed megafauna herd overhead at the retailer's hangar-sized stores on the edge of whitetail-deer country in Hamburg, Pa., or at the heart of tax-free-shopping territory in Newark, Del. So what brings Cabela's to Chester, the shrunken industrial city at the foot of the Commodore Barry Bridge? "Your waterway there, the Delaware River, is super-good for the sport of catfishing," says Darrell Van Vactor , operations manager at Kentucky-based King Kat USA . "It's a great location, central for a lot of people," on a stretch of the Delaware that otherwise has limited public access, Eric Williams , a Cabela's marketing manager, told me. King Kat runs catfish tournaments sponsored and staffed by Cabela's.
June 6, 2016 |
LAS VEGAS - Viewing the market one-dimensionally can be fatal for retailers in today's rapidly changing environment. Though retailers don't have a crystal ball to determine the best location for a new store, a new technology at least provides them data - scads of it - to make an informed decision. Dimension - a location analytics platform - was shown by developer CBRE Inc. at a major retail and real estate convention last month in Las Vegas. CBRE wants to have this interactive tool for retailers in all of its U.S. markets by the end of this year.
May 30, 2016 |
LAS VEGAS - Foreigners love shopping in America, especially in this desert burg dubbed Sin City. "There's nothing like it in Mexico," said Jessica Torres, 23, of Puerto Vallarta, who was in the United States on a student visa and was visiting the Las Vegas Strip last week. Likewise, foreign retailers have become increasingly infatuated with the idea of making it big here. It's about supply and demand: Very few new malls are being built in the U.S., but there's plenty of growing demand among international retailers to come here, say mall experts.
May 10, 2016
ISSUE | SODA TAX Countering columnist's critique of levy The Kenney administration would like to address several points in Joel Naroff's column about the proposed 3-cents-an-ounce sugary-beverage tax ("Pre-K quandary," May 1): The Department of Revenue looked at 13 studies of the effect of increased price on demand, or elasticity; the range was from -.8 to -1.21, so we decided on the average, -1 (a 1 percent price increase would result in a 1 percent drop in demand). Council members and reporters have been briefed on this methodology.