Shopping Centers Today

MAY 2012

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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RET AILING TODA Y centers offering about 4,000 square feet of space. Carter's, Inc. seeks locations with a population of about 150,000 within a five-mile radius. "We used to think that we needed median household incomes of $75,000, but we have found that we do well in moderate incomes of the $50,000 to $60,000 range," Carroll said. "Through testing, we have learned that we actually do quite well across broad incomes." The important thing, of course, is for the area to have lots of families with young children. Expansion has seen Carter's, Inc. work with DDR, Kimco Realty and We- ingarten Realty, but the company has especially expanded into malls owned by CBL & Associates. "We have a great relationship with CBL, and we do very well in their centers," Carroll said. "They have very mom-friendly centers with the tenants that we like. We are enjoying great success in these middle- captured markets where it's the predom- inant place to shop in that marketplace. It works well for moms because it's ef- ficient, and it works well for us because we have a much broader reach than the immediate trade area." CBL most recently brought a Cart- er's store into its Hamilton Crossing, a community center in Chattanooga, Tenn., where other tenants include Cost Plus World Market, HomeGoods, Michaels and T.J. Maxx. "Carter's re- ceived a very strong reception from shoppers at opening and continues to perform well," said Justice Wade, CBL's vice president of development, leas- ing and peripheral property. "Across the portfolio, we have found that the addition of a Carter's or an OshKosh B'Gosh store has been very positively received by the market. We like having their stores in our open-air shopping centers and believe the stores enhance the overall shopping experience." When mothers are placed in focus groups and asked about children's clothing brands, Carter's is by far the No. 1 brand in North America, fol- lowed closely by OshKosh B'Gosh, Carroll says. The company's financials are further evidence: first-quarter net sales rose by 15 percent year on year, to $469 million. Carter's is a destination tenant in and of itself, Carroll asserts. "That's part of being the No. 1 and No. 2 brands in the marketplace," he said. "We help in- crease the number of visits to the mall, and our high-quality product helps en- hance the tenant mix." All this is also part, or so it seems, of being a fast-growing retailer that serves fast-growing little customers. SCT 124 SCT / MAY 2012

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