July 30, 2010 |
Since designing Santa Monica Place mall more than three decades ago, Frank Gehry has become a world-renowned architect and Santa Monica has become one of the most lively and thriving beach cities. The suburban-style mall, however, languished in time, walled off from the increasingly vibrant street life. Now a developer is betting it can become hip again. Macerich Co. spent $265 million to rip the mall at Third Street and Broadway down to its steel foundations and rebuild it as a three-story outdoor shopping venue.
July 8, 2010 |
The start of summer break sent teens and other shoppers to the mall in June, but sales remained lackluster at many of the nation's largest retailers. Major chain stores posted a 3.1% sales increase last month compared with a year earlier, according to Thomson Reuters' tally of 28 retailers released Thursday. Those results fell slightly short of expectations. Yet perhaps more disconcerting, the results suggested that while the nation's retail recovery continues, the pace has slowed since the first quarter.
February 5, 2010 |
In a surprise showing for a notoriously slow month, shoppers turned out at the nation's malls in January, spending carefully but sufficiently to help retailers post solid sales and providing momentum heading into the spring selling season. Retail sales increased 3.3% compared with January 2009, according to Thomson Reuters' tally of 29 major chain stores, including department stores, discounters and apparel sellers. Analysts had predicted a 2.5% gain. January is considered by many retail experts to be the least important month of the year as stores are mainly clearing out winter and holiday merchandise.
November 13, 2009 |
Three major retailers -- a discounter, a mid-priced department store and an upscale chain -- said their profits were up in the fiscal third quarter, showing significant improvement over last year's dismal fall season. But sales figures at Wal-Mart Stores Inc., Kohl's Corp. and Nordstrom Inc. indicated that consumers were still not ready to spend freely, causing continued concern about the holiday season. Although the results beat company expectations, executives at all three chains conceded that they have a tough selling period ahead.
August 14, 2009 |
Three major retailers reported quarterly earnings Thursday, with mixed results that underscored the continued problems plaguing the economy. Discount giant Wal-Mart Stores Inc. said its second-quarter profit beat expectations but also reported that sales fell; trendy clothing company American Apparel Inc. said earnings plummeted 34% compared with a year earlier; and upscale department-store chain Nordstrom Inc. reported that its profit fell...
June 26, 2009 |
Shoppers might not be ready for new luxury stores and pricey restaurants just yet, but the owner of ritzy Fashion Island in Newport Beach is betting they will be soon. Over the next couple of years, developer Irvine Co. will spend more than $100 million to upgrade the shopping center. Plans call for opening a Nordstrom department store and Dean & DeLuca gourmet grocery, adding new fountains and a 24-foot-high water wall and enhancing the Mediterranean-inspired architecture and landscaping.
May 15, 2009 |
Department store chain Nordstrom Inc. said it was raising its outlook for the full year after it beat Wall Street forecasts for the fiscal first quarter. The Seattle retailer said it earned $81 million, or 37 cents a share, down from $119 million, or 54 cents, a year earlier. Sales fell 9% to $1.71 billion. Excluding a one-time gain from a federal tax audit, Nordstrom earned $69 million, or 31 cents a share. Analysts surveyed by Thomson Reuters expected 26 cents a share on sales of $1.69 billion.
April 11, 2009 |
Luxury retailers are looking for new customers, and they've found them at the outlet mall. Faced with unprecedented sales declines, Neiman Marcus, Saks Fifth Avenue and Nordstrom are among a growing cadre of high-end retailers building more outlets, where sales have fared much better.
March 1, 2009 |
No doubt about it -- shopping can be frustrating. But for fuller-figured women looking to keep up with current trends, it can feel like an archaeological excavation. Megan Anton, manager of L.A. designer resale store Decadestwo, wears a size 12 or 14, and she has the kind of personal style other women unconsciously emulate. But to maintain it, she's learned to circumvent fashion's size restrictions.