Shopping Centers Today

MAR 2017

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

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M A R C H 2 0 1 7 / S C T 25 714.309.4548 stuart@retailleasingcalls.com Immediate Results Our Mailings Corral Qualified Leasing Calls Fast! 'NO EXCUSES' RETAIL LEASING TRAINING Canvassing Workshops Goal Setting Career Coaching Team Building Speaking Engagements Property Assessment Strategy Beth Azor - The Retail Leasing Queen - has over thirty years of experience in managing, developing, redeveloping and teaching commercial real estate leasing agents all over the country and she can help YOU! Beth Azor www.bethazor.com Tel: 954-615-0615 beth@azoradvisoryservices.com F ast food need not be bad for you, as Wal-Mart intends to demonstrate with the planned opening of a USDA-certified-organic quick- service restaurant inside its Lake Nona, Fla., Walmart Supercenter. This will be the second of these restaurants, called Grown and established last year in Miami by NBA All-Star Ray Allen and his wife, Shannon. The 60-seat, 1,700-square-foot restaurant will serve breakfast, salads, sandwiches, juices and smoothies, among other things. "Lake Nona is an affluent area, and a lot of the development around the area is health-and-wellness-focused," Wal-Mart spokesman Phillip Keene told Restaurant Hospitality magazine. "And this store is also in that vein." n T een-apparel retailer Wet Seal filed for Chapter 11 and closed all its stores after failing to find fresh capital or a buyer. The chain operated 171 stores across roughly 40 states. Wet Seal was founded in 1962 as a swimwear store in Newport Beach, Calif., and later branched out to offer teen apparel in conjunction with an expansion into malls. n Walmart goes organic Wet Seal bids farewell Whole Foods says it will retrench, having posted slowing sales in its most recent quarter. The supermarket chain intends to open six stores during the current quarter, including two relocations, but it will shut down nine. The company, which operates roughly 440 stores, also said it will put the brakes on previously announced plans to expand to 1,200 stores as it tries to cut costs. Same-store sales dropped by 2.4 percent during the quarter, worse than the 1.7 percent decrease that analysts had expected. The company now anticipates that its sales will decline by as much as 2.5 percent this year, versus its earlier forecast that was closer to a break-even scenario. Analysts say that mainstream supermarkets and restaurants are biting into the company's market share. n WHOLE NEW PLAN

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