Browsing: shopping

Shopping Tourism in Italy Won’t Make Real Comeback Until 2023

MILAN The loss of tourists caused by the pandemic is dramatically impacting the Italian retail sector.

During a digital webinar organized on Thursday by Global Blue, the tax-free leader presented research conducted by Oxford Economics, a company providing global forecasts and analysis to prevent and manage risk. The study highlighted that in 2020, Milan welcomed almost half the number of international visitors compared to every year in the period of 2001 to 2019. When normally around 4.5 million people visit the European city every year, in 2020 there were only 2.5 million.

More from WWD

“We expect that they will return to pre-COVID-19 rates in 2023,” said Nicola Nobile, lead economist at Oxford Economics. “However, we believe that international tourists will slowly return to travel to Italy and to Milan in the third quarter of this year.”

The lack of international visitors is causing a drop in the

Read More
Occupancy at San Antonio’s shopping centers dips

As struggling retailers shuttered stores and filed for bankruptcy amid the coronavirus pandemic, they left behind cavernous spaces at malls in San Antonio.

But while occupancy fell, a fairly stable economy, little new retail construction, and landlords and tenants working together are helping keep shopping centers nearly full, according to a report by Weitzman.

The occupancy rate — for about 47.3 million square feet of retail space across local shopping centers of 25,000 square feet or more — declined to 93.6 percent by Dec. 31. That’s a dip from 94.5 percent at the end of 2019.

“San Antonio has avoided a lot of the major retail closures,” Bob Young, Weitzman executive managing director, said during the commercial real estate firm’s annual conference last week. “The market remains remarkably steady.”

Sears last year closed its stores at South Park Mall and Rolling Oaks Mall, a combined 284,000 square feet. The locations

Read More
Epic Games to convert North Carolina shopping mall into new global headquarters by 2024

Epic Games has reached an agreement with Turnbridge Equities and Denali Properties to purchase North Carolina’s Cary Towne Center.

The 980,000-square-foot and 87-acre shopping mall will be converted into the Fortnite creator’s new global headquarters by 2024. A source familiar with the matter told FOX Business the price tag for the deal came in at roughly $95 million.

According to a news release by Epic, the facilities will include a mix of office buildings and recreational spaces, giving the company “flexibility to create a campus customized from the ground up to accommodate its long-term growth.”


Epic will begin development of its new headquarters later this year. In the meantime, the company will remain at its current headquarters at Cary, North Carolina’s Crossroads Boulevard.

“Epic has been proud

Read More
Shopping mall and office estate acquired by national investor

A historic, grade II listed site in Sheffield comprising shops and offices has been bought by a national commercial property investment business.

Evolve Estates has acquired Hillsborough Barracks in Sheffield, for an undisclosed sum – its second major purchase of 2021.

Set within a walled estate of 11.5 acres, Hillsborough Barracks features a shopping parade with converted offices and separate office buildings.

The estate was originally used as a War Office in 1848 and was repurposed 40 years ago as a retail and business destination, with multi-storey car park, local shopping parade, offices, The Garrison Hotel and McDonalds, both of which have long leasehold.

Also included in the sale is Dragoon Court, an office building that has planning permission to be converted into 32 one-bedroom residential units.

The parade, which was brought to market by Opus North LLP with an asking price of £4.2m, is anchored by Morrisons, which was

Read More
Future of US shopping malls in jeopardy amid ongoing pandemic

NOVI, Mich. – No fewer than 20 nationally known retailers have recently filed for bankruptcy.

J. C. Penney, Nieman Marcus and Pier 1 Imports are just a few. Now the once vaunted shopping malls you often found these chains inside of are getting hit hard as well.

There are implications the tough financial crisis could have on shoppers across the country and in Metro Detroit.

Malls started right in Metro Detroit during the 1950s and 1960s. The Taubman company built many of them including Twelve Oaks Mall in Novi.

But the industry is shifting, changing and owners are struggling to get customers in the door and more than that keep the doors open.

Related: What’s shopping in a pandemic like? Drive to your local mall

Fairlane Town Center once owned by mall company Starwood just handed the keys over to the bank.


“Its days as a super regional mall

Read More
Top Shopping Destination in Chengdu Leads “Culture of Cool” to Explore New Growth Opportunities

CHENGDU, China–(BUSINESS WIRE)–Over the recent years, with China’s thriving pop culture, the one-of-a-kind market has revealed a state of accelerating growth, and led to the emergence of an ever-expanding legion of pop brands – even luxury brands are seeking to ride on the trend. What pillars the country’s booming pop-culture market is the absolute discourse power of Gen Zers, who are not only digital natives, but also natural-born audiences of pop culture, thanks to their unremitting pursuit of distinction and personality. At the same time, their increasingly stronger spending power is making the generation a key engine that propels the surging growth of the pop-culture market as well as the rising sales of the luxury industry.

Traditionally known as a land of abundance that inspires outstanding talents, Chengdu in China’s southwestern Sichuan Province has gradually grown to be one of the most vibrant Chinese cities in terms of

Read More
1 2 3 6