Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/109754
THE COMMON AREA STORES GO HIGH-TECH TO FIGHT THE INTERNET, MORE RETAIL CENTERS EMBRACE MEDICINE U.S. space closure announcements Less retail square footage to close this year Retailers marked a smaller amount of space for closure in square footage terms this year relative to last, even though the total number of planned closures climbed, according to ICSC Research and PNC Real Estate Research. U.S. retailers and restaurateurs announced plans to close 4,400 stores last year, up 9.6 percent from 2011, but total space amounted to 46.5 GAMESTOP SAID IT PLANS TO CLOSE 200 million square feet, STORES IN 2013. down about 29 percent. The researchers say these latest allotments represent 0.3 percent of total U.S. retail space inventory. Discount department stores Grocers Department stores Bookstores Home entertainment Apparel Toys and hobby Restaurants Misc. retail Home furnishings Footwear Jewelry 0 1,000 2,000 SOURCES: ICSC RESEARCH, PNC REAL ESTATE RESEARCH Stoking the home fires Spring is traditionally the busiest time of year in the home-improvement industry. And U.S. home-improvement retailers, buoyed by optimistic housing-market expectations, are adding on seasonal workers in anticipation of the boom. Home Depot says it will hire 80,000 seasonal employees, up 14 percent from last year. Lowe's says it will hire about 45,000 seasonal workers at its U.S. stores, up 13 percent from last year. Shoppers without borders New cross-border shopping regulations in Canada are a boon for U.S. retailers. Nielsen research shows Canadian shoppers flocking to U.S. border cities such as Buffalo, N.Y., and Seattle, since Canada eased restrictions on duty-free merchandise in June. Almost 1 million Canadian households headed south to shop over the past year, up 24 percent from the year before. Canadians may now bring back as much as $200 worth of merchandise from the U.S. after a 24hour trip, four times the previous limit. A 48-hour trip now allows for $800 worth of merchandise, double the old limit. Canadians took 20 percent more trips to the U.S. during the thirdquarter than in the 2011 comparable quarter, says Nielsen. Within that 12-month period, Canadians spent some 10 percent more at U.S. stores. M ARC H 20 13 / SC T 7