Silver Linings of the Month
Apr 1, 2009 12:00 PM
- The Commerce Department's figures for February came in better than expected. Sales fell 0.1 percent from February-less than what analysts had predicted. January sales, which had been reported as rising 1.0 percent, were revised upward to a 1.8 percent gain. Meanwhile, ICSC's numbers showed same-store sales in February dropped 0.1 percent, the best performance in six months.
- Fashion industry icon Giorgio Armani is opening a new 43,000-square-foot concept store in Manhattan. “Luxury before was just an elite thing,” Armani told the Associated Press. “Now the sense of luxury is more democratic.”
- Target Corp. opened 27 stores across 15 states during a coordinated opening in early March. The openings include the chain's first two locations in Hawaii.
- There has been a lot of news about suspended developments. But some new projects are plowing ahead. For example, Prime Retail recently signed 17 retailers to its Prime Outlets - Livermore project outside San Francisco.
- American Apparel avoided default on $16 million in debt by selling a 20 percent stake in the company to private equity firm Lion Capital.
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