News: Shopping Centers

Spring thaws and super stores: Time to hit the shops!

Is it spring yet? Knowing that March 22 is around the corner is keeping me going through this long, stormy winter. Luckily, though, the sun seems to be shining on those of us in the retail business. As I write this, it's too early for February sales figures, but overall economic trends remain positive. The U.S. economy expanded 2.8% last year, according to the Commerce Department, the most in five years, and reversing a 2.6% contraction in 2009. Household purchases rose 4.1% in the fourth quarter of last year, the most since the same period in 2006. And consumer confidence continues to improve, rising 5.6 points in February, The Conference Board reported. Certainly, the price of oil in light of unrest in the Middle East and North Africa remains a concern - retail sales and corporate profits are directly related to the price at the pump. But historically, oil continues to flow through political turmoil, and any disruption is likely to be short, my experts tell me. Even potential dark spots actually are opportunities. It wasn't surprising that Borders filed for Chapter 11, or that it will close three stores in New York (including the one closest to my office!). But experience has shown that those stores will be filled quickly, as other chains find these locations irresistible. After all, the unlamented Circuit City's units around town filled up rather quickly during the downturn. Etro's colorful style has come from Milan to 89 Greene St., its second boutique in Manhattan. The equally colorful Inglot Cosmetics from Poland opened its second Manhattan location at 95 Ninth Ave. in Chelsea Market. J. Crew's newly renovated store at 91 Fifth Ave. has partially reopened. Reports are that Crew's sister store Madewell will take the former Nine West space at 115 Fifth Ave. Christine Lehr's tees and dresses will be found at 139 Reade St. Joe Fresh will move south from Canada to a boutique at 510 Fifth Ave. this fall. Denim Habit, a jeans chain out of Philadelphia, is coming to 346 West 14th St. Bond No. 9, with its very New York scents-ibility (its perfumes are named after our Sts. and neighborhoods) will open at 863 Washington St. in the High Line. Gas Bijoux's jewelry and accessories is coming to 325 Bleecker St. The London Candy Company will bring sweet treats to 1442 Lexington Ave. Need to pick up an iPod or MacBook on your commute home? My friends at the New York Post and a number of Apple-centric websites report that an Apple store will replace the Metrazur restaurant at Grand Central Terminal. I'm looking forward to NYCREW Network's first Leading Ladies event of the year, a profile of "Women Shaping New York" in honor of Women's History Month, being held Tuesday, March 15 from 6:00 to 8:00 p.m. at the offices of Ted Moudis Associates, 79 Madison Ave. The major role that Emily Warren Roebling played in the construction of our beloved Brooklyn Bridge will be discussed by her great-great-grandson, Kristian Roebling of the Roebling Museum; Claire Weisz and Andrea Woodner, founders of The Design Trust for Public Space; Courtney Clark, a project engineer for Weidlinger Associates; and moderator Wanda Bubriski, executive director of Beverly Willis Architecture. Many New Yorkers know that John Roebling designed the bridge, and Washington Roebling was responsible for the construction. But comparatively few realize that Washington Roebling's wife Emily essentially became an engineer and general contractor herself on the construction when her husband was injured during the project. I'm excited to hear more about this New York heroine. For more information and to register, visit www.nycrew.org. Plans for an extra-spectacular Women's Special Interest Group at ICSC's RECon in Las Vegas are underway, but remain top secret for now. But rest assured, we'll be celebrating our first anniversary in spectacular style. Just as we did at ICSC's New York National Conference, we'll replace our roundtable format for a special presentation still being confirmed at press time. But save the date: We're scheduled for May 22 from 3:30 to 4:45 p.m. at the spectacular Sterling Club, just across from the Las Vegas Convention Center, followed by a special SIGs Networking Reception from 5 to 6 p.m. To register for the conference, visit www.icsc.org/2011SC. So it's spring all around - and time to hit the shops! Faith Hope Consolo is the chairman of the Retail Leasing, Marketing and Sales Division at Prudential Douglas Elliman, New York, N.Y.
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