TRAFFIC PATTERNS
Apr 1, 2007 12:00 PM
HUGO'S THE BOSS
Hugo Boss has the highest concentration of its stores in the top five mall REITs with a full 88 percent of its locations in those properties. Elder Beerman has the lowest concentration.
| Retailer | Stores in Top 5 REIT Malls | Stores in All Malls & LCs | Top 5 Market Share |
|---|---|---|---|
| Hugo Boss | 30 | 34 | 88% |
| Occhiali da Sole | 34 | 39 | 87 |
| Neiman Marcus | 29 | 34 | 85 |
| Sony Style | 28 | 33 | 85 |
| Bailey Banks & Biddle | 61 | 75 | 81 |
| Nordstrom | 82 | 101 | 81 |
| Armani Exchange | 34 | 42 | 81 |
| Sephora | 94 | 117 | 80 |
| Ben Bridge Jewelers | 61 | 76 | 80 |
| Torrid | 101 | 126 | 80 |
| Steve Madden | 67 | 84 | 80 |
| Movado | 26 | 33 | 79 |
| Swarovski | 72 | 92 | 78 |
| Burberry | 25 | 32 | 78 |
| Montblanc | 25 | 32 | 78 |
| Bebe Sport | 31 | 40 | 78 |
| Louis Vuitton | 31 | 40 | 78 |
| Janie n Jack | 58 | 75 | 77 |
| Vans Shoes | 70 | 91 | 77 |
| Aldo | 182 | 238 | 76 |
| Retailer | Stores in Top 5 REIT Malls | Stores in All Malls & LCs | Top 5 Market Share |
|---|---|---|---|
| Elder Beerman | 7 | 51 | 14 |
| Bon Ton | 7 | 38 | 18 |
| Hatzone | 8 | 42 | 19 |
| Burlington Coat | 12 | 58 | 21 |
| Belk's | 34 | 147 | 23 |
| Dress Barn | 18 | 71 | 25 |
| Shoe Department | 79 | 295 | 27 |
| Michael's | 12 | 44 | 27 |
| Dollar Tree | 33 | 120 | 28 |
| Beall's | 11 | 39 | 28 |
| Source: Friedman, Billings, Ramsey & Co., Inc., company and mall Web sites and Costar | |||
BUILDING INTELLIGENCE
Of all retail types, lifestyle centers have been the fastest-growing segment for seven straight years. Mall construction has reduced to a trickle, with just a 0.2 percent increase over existing space built last year.
| 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | |
|---|---|---|---|---|---|---|---|
| Strip (less than 100,000) | 1.3% | 1.3% | 1.2% | 1.4% | 1.6% | 1.9% | 1.8% |
| Strip (100,000 to 200,000) | 1.8 | 1.3 | 1.1 | 1.0 | 1.2 | 1.3 | 1.1 |
| Strip (200,000 to 400,000) | 2.5 | 2.8 | 2.6 | 2.3 | 1.9 | 2.1 | 1.9 |
| Strip (over 400,000) | 3.5 | 3.6 | 2.9 | 2.8 | 2.8 | 2.8 | 2.6 |
| Sub-category: malls | 0.7 | 0.8 | 0.7 | 0.5 | 0.4 | 0.3 | 0.2 |
| Sub-category: lifestyle centers | 10.3 | 17.3 | 19.3 | 11.4 | 11.9 | 10.8 | 10.4 |
| Total shopping center | 1.6 | 1.5 | 1.4 | 1.4 | 1.5 | 1.8 | 1.6 |
| Source: Merrill Lynch, ICSC | |||||||
LEADING THE PACK
In recent months, mall-based anchors have been posting the largest same-store sales gains of any retail segment. However, mall-based specialty retailers have been the weakest.
| Feb-06 | Sep-06 | Oct-06 | Nov-06 | Dec-06 | Jan-07 | Feb-07 | |
|---|---|---|---|---|---|---|---|
| Mall-based Specialty Retailers | -4.5% | 5.9% | -0.5% | 1.2% | 0.1% | 1.3% | -0.9% |
| Mall-based Anchors | 1.1 | 7.2 | 6.3 | 3.7 | 4.8 | 7.2 | 5.4 |
| Community Center Retailers | 1.8 | 7.4 | 3.2 | 2.5 | 3.8 | 4.6 | 1.6 |
| Power/Community Center Anchors | 3.3 | 3.9 | 2.1 | 2.7 | 2.7 | 3.5 | 3.3 |
| Power Center Anchors | 1.6 | 1.5 | 1.8 | 2.5 | 4.4 | 2.8 | 3.3 |
| Total: | 2.3 | 6.0 | 2.3 | 2.0 | 2.1 | 3.2 | 2.0 |
| Source: Merrill Lynch | |||||||
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