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Wednesday, March 24, 2010

Retail and Shopping News

I want to share some interesting shopping and retail information that landed in my inbox yesterday. According to the Colliers International 2010 Retail Trends and Opportunities report that was just released,

"Department stores are jumping on the ‘Cheap is Chic’ bandwagon over the next couple of years, joining the slew of dollar stores and pop-up stores taking over vacant retail spaces left behind during the recession over the last two years. Retailers such as Bloomingdale's, Nordstrom and Neiman Marcus are joining the trend with an increase of outlet stores opening across the US. H&M is also expanding with 240 new stores worldwide this year and Topshop will be bringing its unique style to hipsters nationwide over the next few years.

High-end Retail Trend Highlights

Bloomingdale’s has four outlet stores planned for 2010 and is expected to boost outlet store openings further in 2011. It has open­ings planned for Bergen Town Center (Paramus, NJ), Dolphin Mall (Miami), Potomac Mills (Washington DC area) and Sawgrass Mills (Sunrise, FL).

Nordstrom plans on adding at least 16 new Nordstrom Rack stores in 2010, which boast price points that are about 50 percent lower than those offered in Nordstrom’s traditional department stores. Nordstrom added 12 Rack stores in 2009 (including two in Manhattan) and is actively seeking both urban and suburban sites and has signed a number of deals in big-box space vacated over the past 18 months.

Neiman Marcus is following suit and is expected to put most of its expansion emphasis behind its outlet concept, Last Call, over the next couple of years, and opened three new Last Call stores in 2009.

Saks opened a number of Off 5th stores over the last half of 2009, including new stores in the Cincinnati, Los Angeles, Raleigh/Durham, Reno, San Antonio and the San Francisco Bay markets. One new Off 5th store is planned in the Dallas market and as many as four more stores will likely be added over the course of 2010. Saks plans on rolling out a minimum of five Off 5th stores annually over the next few years. Lord & Taylor is also getting into the mix, with a 15,000 square foot outlet store slated for a mid-February opening in the Jersey Gardens Outlet Mall in Elizabeth, New Jersey.

*Coach plans as many as 20 stores throughout North America in 2010

*Liz Claiborne will be rolling out a new concept, LCNY, over the next 18 months

*Henri Bendel plans to expand in the U.S. in 2010

*Lululemon Athletica plans on accelerating growth in 2010 and plans on as many as 15 new stores in 2010 and 25 stores annually for at least the next few years

*True Religion will reportedly add as many as 25 new stores in the coming year

*Topshop has one confirmed new store in New York slated for 2010 opening, and as many as 15 stores throughout the U.S. are planned over the next four years

*Zara is planning for as many as 10 new U.S. stores in 2010. California, Florida, Georgia, Illinois, Nevada, New Jersey, New York and Texas are the focal points for growth in the coming year. Worldwide expansion plans for Zara call for 450 new stores over the next two years

*Urban Outfitters plans on 50 new stores in 2010 and opened about 35 new stores in 2009

*H&M is aggressively expanding and pursuing urban streetfront retail and mall sites. It is currently on track to add about 240 new stores worldwide this year"

As an avid outlet and cheap chic shopper with a strong interest in consumer behavior and shopping trends, I found this information to be both helpful and exciting, particularly the bit about Topshop's expansion plans. I am eagerly anticipating the day when I read the headline "Topshop to open in Los Angeles."