Jos. A. Bank is targeting outlet centers for its new locations. Black said of its seven (outlet) stores open now, just one — Leesburg (Va.) Corner Premium Outlets — is located in a “true” outlet center.
In July, Jos. A. Bank plans to open a store in the Pottstown (Pa.) Factory Outlets mall and another in the Tanger Outlets in Riverhead, N.Y. Three more outlets — in Maryland, New Jersey and Texas — are slated to open by the end of the year. Black declined to be specific about their locations. Jos. A. Bank plans to open 50 to 75 outlet stores nationwide.
SOURCE: mddailyrecord
Friday, June 18, 2010
Vera Bradley Outlet Store Opens in Wrentham
According to the Facebook page announcing the grand opening, the store will feature items marked 25% to 60% off the original prices. In addition to handbags and totes, the store will also carry accessories and stationary.
The first store opened in November 2009 at the Chicago Premium Outlets in Aurora, Illinois.
Joes Jeans also recently opened in Wrentham.
SOURCE: Discountfabrichandbags
Tulalip Police Make Arrest In Coach Store Robbery
TULALIP, Wash. -- A man was arrested in connection with a robbery at the Coach outlet in Tulalip, police said.
According to the police report, officers had surveillance video from a gas station near the Seattle Premium Outlets mall showing a white Honda with two men leaving around the same time the Coach store was robbed on May 27.On Tuesday, the police chief was near the mall when he saw the car from the video and followed the driver home.The owner gave officer permission to search the house, Tulalip police said. Once inside, police said they found almost $5,000.The suspect allegedly admitted he was one of two men who committed the robbery and showed officers the sunglasses he wore and the zip ties used to tie up two employees, police said.According to the report, he said he and his partner scouted the business out three weeks before the robbery.
SOURCE: KIROTV
According to the police report, officers had surveillance video from a gas station near the Seattle Premium Outlets mall showing a white Honda with two men leaving around the same time the Coach store was robbed on May 27.On Tuesday, the police chief was near the mall when he saw the car from the video and followed the driver home.The owner gave officer permission to search the house, Tulalip police said. Once inside, police said they found almost $5,000.The suspect allegedly admitted he was one of two men who committed the robbery and showed officers the sunglasses he wore and the zip ties used to tie up two employees, police said.According to the report, he said he and his partner scouted the business out three weeks before the robbery.
SOURCE: KIROTV
Thursday, June 17, 2010
Top Designers Leave New York & Co.
The departures compound the challenges confronting the $1 billion specialty chain. Due to inventory buildups and some fashion misses, the company expects to report a second-quarter loss surpassing the year-ago second-quarter loss of $4.8 million. The performance has also been pulling down the stock price, which closed down 6.7 percent Wednesday on the New York Stock Exchange to $2.65. Its 52-week high is $6.53.
It won’t be easy to find someone of the caliber of Holman-Rao, who was with New York & Co. for about two years and previously served as president of Limited Design Services, a unit of Limited Brands Inc., and president of Banana Republic.
Last month, another design executive at New York & Co., Sofie Pavitt, left to join the Gap
Rising labor costs in China
Rising labor costs in China are forcing U.S. apparel and accessories retailers, such as AnnTaylor Stores Corp. and Coach Inc., to consider relocating at least some of their production to countries with cheaper work forces. But doing so could risk increasing other expenses, such as shipping.
"We are looking to move production into lower-cost geographies, most notably Vietnam and India," Mike Devine, Coach's chief financial officer, said at a conference last week. The luxury-handbag retailer already produces goods in those countries, but plans to increase its presence in both of them.
Guess Inc. is thinking along similar lines. Dennis Secor, the fashion brand's chief financial officer, said in an interview that Guess is looking to build its production capabilities in Vietnam, Cambodia and Indonesia.
Recent minimum-wage increases have pushed up Chinese labor costs by 5% to 15% on average this year, said Rick Darling, president of LF USA, a unit of Hong Kong-based Li & Fung Ltd., which acts as a go-between for retailers and their webs of suppliers. In the southern coastal province of Guangdong, one of a handful of hubs for apparel and accessories makers, the monthly minimum wage rose on average by more than 20%, effective May 1, the firm said.
The gains come as Chinese workers more broadly have been securing wage increases, partly through labor disputes. In addition, their government has sought to steer manufacturing away from labor-intensive, low-technology industries, such as textiles, into more-sophisticated products, such as electronics devices.
The higher pay has boosted the purchasing power of Chinese consumers, but is pressuring U.S. apparel chains and others that rely on low-cost labor. Along with rising prices of cotton and transportation, the wage increases could push apparel retailers' costs in China up 2% to 5% a year, said Mr. Darling.
That prospect has sent retailers scrambling to find new ways to reduce production costs. If they fail, they will have to absorb the higher costs, battering their margins, which have just begun to recover from the recession. Or, they could pass the costs along to consumers, a risky move at a time when shoppers are beginning to regain some of their appetite for spending.
"It is a really bad time for labor costs to be rising," said Jeremy Rubman, retail strategist at consulting firm Kurt Salmon Associates. "Nobody wants to alienate the consumer that's finally coming back."
J.C. Penney Co. said recently that its apparel makers have been leaving China for Indonesia, Vietnam, India and Bangladesh for the past five years. Those countries "have a better cost base from a labor standpoint," said Jim Kenney, Penney's senior vice president of corporate strategy.
AnnTaylor Chief Financial Officer Michael Nicholson said his company has been working with its top 15 suppliers, which manufacture about 60% to 65% of its products, to relocate to lower-cost countries. But Mr. Nicholson added a caveat: the moves will only happen "once they prove that the quality is there."
Indeed, for the money, the quality of Chinese-made goods is tough to match, and labor is just one of the costs of production. Others include the costs of raw materials like textiles, production facilities, transportation and quality control and training.
The skills of China's labor force and its familiarity with the ways and expectations of U.S. companies, exceed that of any other Asian country, said Mr. Rubman, the retail strategist.
Guangdong province is known for its footwear and handbag work, which is difficult to replicate. Moreover, labor typically accounts for between 15% and 22% of the total cost of a garment, while fabric and logistics can account for as much as 60%, according to Hana Ben-Shabat, a partner in the retail practice of consulting firm A.T. Kearney.
Moving production to Bangladesh to take advantage of that nation's lower labor costs could raise transportation costs, in part because the country is off the beaten path for shipping lines, said Ms. Ben-Shabat.
Vietnam has a big labor pool, but textiles aren't as available there as in China, meaning retailers would have to ship in fabrics, said Andrew Jassin, managing director of fashion consulting firm Jassin Consulting Group.
"The only replacement for China is China," said Li & Fung's Mr. Darling, adding that his firm is scouting production possibilities in northern and western China. Since those areas have played only a minor role in the country's manufacturing boom, wages there remain relatively low.
SOURCE: The Wall Street Journal
ALSO SEE: Production Costs Rise - Who will pay in this tough economy?
"We are looking to move production into lower-cost geographies, most notably Vietnam and India," Mike Devine, Coach's chief financial officer, said at a conference last week. The luxury-handbag retailer already produces goods in those countries, but plans to increase its presence in both of them.
Recent minimum-wage increases have pushed up Chinese labor costs by 5% to 15% on average this year, said Rick Darling, president of LF USA, a unit of Hong Kong-based Li & Fung Ltd., which acts as a go-between for retailers and their webs of suppliers. In the southern coastal province of Guangdong, one of a handful of hubs for apparel and accessories makers, the monthly minimum wage rose on average by more than 20%, effective May 1, the firm said.
The gains come as Chinese workers more broadly have been securing wage increases, partly through labor disputes. In addition, their government has sought to steer manufacturing away from labor-intensive, low-technology industries, such as textiles, into more-sophisticated products, such as electronics devices.
The higher pay has boosted the purchasing power of Chinese consumers, but is pressuring U.S. apparel chains and others that rely on low-cost labor. Along with rising prices of cotton and transportation, the wage increases could push apparel retailers' costs in China up 2% to 5% a year, said Mr. Darling.
"It is a really bad time for labor costs to be rising," said Jeremy Rubman, retail strategist at consulting firm Kurt Salmon Associates. "Nobody wants to alienate the consumer that's finally coming back."
J.C. Penney Co. said recently that its apparel makers have been leaving China for Indonesia, Vietnam, India and Bangladesh for the past five years. Those countries "have a better cost base from a labor standpoint," said Jim Kenney, Penney's senior vice president of corporate strategy.
AnnTaylor Chief Financial Officer Michael Nicholson said his company has been working with its top 15 suppliers, which manufacture about 60% to 65% of its products, to relocate to lower-cost countries. But Mr. Nicholson added a caveat: the moves will only happen "once they prove that the quality is there."
Indeed, for the money, the quality of Chinese-made goods is tough to match, and labor is just one of the costs of production. Others include the costs of raw materials like textiles, production facilities, transportation and quality control and training.
The skills of China's labor force and its familiarity with the ways and expectations of U.S. companies, exceed that of any other Asian country, said Mr. Rubman, the retail strategist.
Guangdong province is known for its footwear and handbag work, which is difficult to replicate. Moreover, labor typically accounts for between 15% and 22% of the total cost of a garment, while fabric and logistics can account for as much as 60%, according to Hana Ben-Shabat, a partner in the retail practice of consulting firm A.T. Kearney.
Moving production to Bangladesh to take advantage of that nation's lower labor costs could raise transportation costs, in part because the country is off the beaten path for shipping lines, said Ms. Ben-Shabat.
Vietnam has a big labor pool, but textiles aren't as available there as in China, meaning retailers would have to ship in fabrics, said Andrew Jassin, managing director of fashion consulting firm Jassin Consulting Group.
"The only replacement for China is China," said Li & Fung's Mr. Darling, adding that his firm is scouting production possibilities in northern and western China. Since those areas have played only a minor role in the country's manufacturing boom, wages there remain relatively low.
SOURCE: The Wall Street Journal
ALSO SEE: Production Costs Rise - Who will pay in this tough economy?
Patton on Leadership
"Lead me, follow me, or get out of my way." General George S. Patton
Are you tired of leadership books written by people who have never led anyone in their life? General George S. Patton was a brilliant tactician and a terrific motivator. We have to lead people in business; he had to lead men in war. This is by far my favorite book on leadership. I refer to it all the time.
This is not a war or history book. This book takes the leadership and wisdom of one of America's greatest and most colorful combat generals and applies it to contemporary civilian corporate organizations.
Here are some of my favorite quotes from General Patton. You can easily see how these principles can be applied to your organization.
"Accept the challenges so that you can feel the exhilaration of victory."
"If everyone is thinking alike, then somebody isn't thinking."
"Better to fight for something than live for nothing."
"A good plan violently executed now is better than a perfect plan executed next week."
"Don't tell people how to do things, tell them what to do and let them surprise you with their results."
"Nobody ever defended anything successfully, there is only attack and attack and attack some more."
"Take calculated risks. That is quite different from being rash."
If you only ever buy one book on leadership this is the one.
CLICK HERE TO BROWSE THE OUTLET INSIDERS BOOK STORE
Mark Libell
Are you tired of leadership books written by people who have never led anyone in their life? General George S. Patton was a brilliant tactician and a terrific motivator. We have to lead people in business; he had to lead men in war. This is by far my favorite book on leadership. I refer to it all the time.
This is not a war or history book. This book takes the leadership and wisdom of one of America's greatest and most colorful combat generals and applies it to contemporary civilian corporate organizations.
Here are some of my favorite quotes from General Patton. You can easily see how these principles can be applied to your organization.
"Accept the challenges so that you can feel the exhilaration of victory."
"If everyone is thinking alike, then somebody isn't thinking."
"Better to fight for something than live for nothing."
"A good plan violently executed now is better than a perfect plan executed next week."
"Don't tell people how to do things, tell them what to do and let them surprise you with their results."
"Nobody ever defended anything successfully, there is only attack and attack and attack some more."
"Take calculated risks. That is quite different from being rash."
If you only ever buy one book on leadership this is the one.
CLICK HERE TO BROWSE THE OUTLET INSIDERS BOOK STORE
Mark Libell
Wednesday, June 16, 2010
New Tanger center names general manager
The Wake Forest University graduate previously worked as the corporate asset manager for JTS Management Co. in Baton Rouge, La. and brings more than a dozen years of experience to her new position with Tanger.
Hackshaw oversaw the opening of the North Georgia Premium Outlets and the Orlando Premium Outlets and won national awards in marketing and customer service. She served as a former board member of the International Facility Management Association and the Orlando/Orange County Visitors Bureau.
Tanger Factory Outlet Centers, Inc. is a publicly-traded company that operates, owns or has an ownership interest in 33 outlet shopping centers in 22 states.
SOURCE: The Business Journal of the Greater Triad Area
Top 10 insider tips to outlet shopping
ShopSmart Divulges Outlet Shopping Secrets
How to Find High-Quality Items for Rock-Bottom Prices
The July 2010 issue of ShopSmart, from the publisher of Consumer Reports had a great article on outlet shopping.
TOP 10 TIPS TO OUTLET SHOPPING
BEFORE YOU GO…
1. Have a plan of attack: Check the outlet mall’s website for maps, printable coupons and special promotions.
2. Time it right: Outlets have similar schedules to retails stores; extra savings can be found around the holidays, though they will be much more crowded at those times.
3. Get the Coupons: Major outlet malls offer coupon books at a cost, so check outlet websites as some will have a voucher to get the book for free if you sign up for their membership club.
4. Log on: Check outlets’ Facebook accounts. Also type in the name of the individual stores and the word “outlet” into a search engine and you may pull up additional savings.
ONCE YOU’RE THERE…
5. Spot the good stuff: Some outlets sell garments that were previously at retail stores while others sell lower-priced clothing made specifically for the outlet. If you are uncertain, ask a salesperson.
6. Don’t go crazy: Just because it’s in an outlet center doesn’t mean deep discounts. The item could be the same price as regular full-price stores, so use your Web-enabled phone to go to a price-comparison site.
7. Chat up the salesperson: You can find out little-known details, like when new shipments will arrive and that prices ending in certain numbers can indicate a clearance or limited quantity item.
8. Join the club: Many outlet stores have frequent-shopper programs that offer additional savings, such as coupons after you spend a set amount or bonus savings on your birthday.
9. Understand the return policy: They are often stricter at outlets than at retail stores of the same name.
10. Have a great time.
Additionally, KFSN-TV Fresno, CA did a great story on this. You can see the video here.
SOURCE: Consumer Reports
Police search for suspects in outlet mall robbery
TULALIP — A reward of up to $3,500 is being offered for information about a May 27 robbery at the Seattle Premium Outlets and police today released information about the suspects.
The robbery happened about 7 a.m. at the Coach store before it opened, Tulalip Tribal Deputy Police Chief Carlos Echevarria said. Someone rang the bell for the delivery door at the back of the store.
When the manager opened the door, two masked and armed men rushed in, according to police. One had a handgun and the other had a rifle.
The robbers used plastic ties to bind the two employee’s hands, grabbed an undisclosed amount of cash and fled.
One woman was able to free her hands after about 10 minutes and called 911, Echevarria said. No one was injured.
The first suspect is described as white, in his late teens to early 20s. He is about 5 foot, 7 inches, to 5 foot, 10 inches tall with a medium build. He was wearing blue jeans with a dark coat that may have had a hood. His face was covered with a mask. Police believe the man was armed with a silver-and-black semi-automatic handgun.
The second suspect also is described as white and about the same age. He is believed to be taller and thinner and was wearing a tan or beige-colored trench coat with dark pants or jeans and black boots. He also wore a mask and was armed with a rifle.
Tulalip Police detectives are trying to identify and locate a white 1998-2000 Honda Accord sedan that was seen in the area at the time of the robbery.
The cash reward is being offered in exchange for information that leads to an arrest. Call the Tulalip Police Department at 360-716-5961 or 360-651-4608.
SOURCE: HeraldNet by Jackson Holtz
The robbery happened about 7 a.m. at the Coach store before it opened, Tulalip Tribal Deputy Police Chief Carlos Echevarria said. Someone rang the bell for the delivery door at the back of the store.
When the manager opened the door, two masked and armed men rushed in, according to police. One had a handgun and the other had a rifle.
The robbers used plastic ties to bind the two employee’s hands, grabbed an undisclosed amount of cash and fled.
One woman was able to free her hands after about 10 minutes and called 911, Echevarria said. No one was injured.
The first suspect is described as white, in his late teens to early 20s. He is about 5 foot, 7 inches, to 5 foot, 10 inches tall with a medium build. He was wearing blue jeans with a dark coat that may have had a hood. His face was covered with a mask. Police believe the man was armed with a silver-and-black semi-automatic handgun.
The second suspect also is described as white and about the same age. He is believed to be taller and thinner and was wearing a tan or beige-colored trench coat with dark pants or jeans and black boots. He also wore a mask and was armed with a rifle.
The cash reward is being offered in exchange for information that leads to an arrest. Call the Tulalip Police Department at 360-716-5961 or 360-651-4608.
SOURCE: HeraldNet by Jackson Holtz
Tuesday, June 15, 2010
Las Vegas Outlet Center Expansion
"Simon Property Group is embarking upon an expansion and comprehensive remodeling of the Las Vegas Outlet Center. Construction on the initial phase of the Project is expected to commence on or about June 14, 20l0. As shown in the enclosed rendering (follow this link for file), Landlord will construct two buildings at the clouded entries. As a result, these entrances will be closed for public access beginning Monday, June 21st until the completion of the Project in the spring of 2011. Emergency egress will continue to be available. "
"Landlord will also be retrofitting some of the exteriors of the buildings to match the new buildings, moving signs to new towers, and undertaking a cosmetic upgrade of the common areas. The end result will be a larger, more attractive center designed to enhance the shopping center experience of our customers."
Mark Libell
Monday, June 14, 2010
Perry Ellis Repurchases $25 Million of Senior Notes
"Our company is in its strongest financial position ever. That, combined with current market conditions, led us to believe that these repurchases were the most prudent use of our cash and demonstrates our commitment to building long-term value for our shareholders and further strengthening our balance sheet," commented George Feldenkreis, Chairman and CEO of Perry Ellis International. "We now have $104 million dollars of senior subordinated notes outstanding from the original $150 million and we will evaluate further repurchases as market conditions warrant," continued Mr. Feldenkreis.
In addition Perry Ellis International will be webcasting its Annual Shareholder Meeting to the general public on Thursday June 17, 2010, beginning at 11:00 AM EDT. This webcast can be accessed via the Investor Relations section of the Perry Ellis International website at http://www.pery.com/. An archive of the webcast will be available through June 30, 2010.
Perry Ellis has 46 outlet stores.
Source: MarketWatch
Jos. A. Bank to open outlet stores
Jos. A. Bank CEO talks about opening outlet stores.
When you came here who was your main competitor?
Well, we were always known, and it's no secret, the company philosophy, before we came here, was we're the poor man's Brooks Brothers. ... We want to be like them, but we do it cheaper. That's kind of the way that it was. And I've always found that from a marketing perspective that being just like something but only cheaper is not really a winning proposition. So we had to really develop Jos. A. Bank into developing its own identity and its own brand.
And now the way forward is factory stores?
In the U.S., there is a very successful group of shopping centers that are devoted strictly to factory outlet stores ... probably 200 of them. And they have sales in those centers that are as good as any mall, but it's all brands with a factory outlet approach. And we are not in that space at all, except for the few outlet stores that we have [where] we just run clearance, but we don't manufacture product for them.
The best center that we are in ... is in Leesburg, Virginia. We [wondered] on our performance there, would we be getting business that is in addition to what we have now or would we be just stealing it from our other [regular] stores? And it turns out, in the factory outlet business the customers that shop in those venues are not really customers of the brands in regular venues. So we think there is a whole other business that can be developed there. We just have to get the product right and the real estate right.
You have several different levels of products?
I like to think there's a lot, but there's really three. Three within our regular stores and we would add a fourth, to go into the factory stores. Part of what has to happen in a period like this [recession] is you have to get new customers. And in the tailored clothing business it is all about market share, so the business itself isn't growing, so you have to take it from other people.
Where will the first factory store open?
It will be in Riverhead, Long Island, New York, to open in July.
What does it cost to open a factory store?
Putting one up is not a lot different than putting up the regular stores. It's about $300,000 to build the store, then you put about $300,000 of merchandise in, so it's about a $600,000 investment.
What will be different in the product ... cheaper?
If we open up 40 or 50 of these, the majority of what will be sold will be product that's manufactured for those stores, just like everybody else's factory stores. We like to say every item that we sell has a high level in quality, but as you go up in price what you're getting is additional luxury features, meaning more luxurious fabrics, more luxurious details.
So ... we are not making cheap garment, we are using more cost-effective fabrics, but sewing and everything else would be up to our high quality standard. We think there's an opportunity to step down that level of luxury one notch or so, and offer it a lower price point. We think the customers who shop there, they are aspirational ... they want to buy your brand but they don't think they can afford it in your regular venue, so there is a price sensitivity there and value sort of statement that we think needs to be made. So we are building a line for five new stores and we'll put that product in the existing seven that we have, and we'll see ... we'll know a lot by the end of the year.
SOURCE: Gazette.net
Simon Property can't close on Prime
David Simon said his company was cooperating with the U.S. Federal Trade Commission, which is reviewing Simon's pending acquisition of privately held Prime for antitrust issues.
Simon has been allowed to close on the purchase of one of Prime's 22 outlet centers, the one in Puerto Rico, Simon said at the National Association of Real Estate Investment Trust Investor Forum in Chicago. The closing on the Puerto Rico center was completed last month, he said.
When Simon announced in December it would pay $700 million and assume Prime's debt, it said it expected the $2.33 billion acquisition to close at the end of the first quarter or in the second quarter, which ends on June 30.
At the time, the company said the acquisition would give Simon 63 U.S. high-end outlet centers and would immediately boost earnings. The deal would give Simon new centers that ring major metropolitan markets such as Washington, D.C.; Baltimore; San Antonio; and Orlando, Florida.
SOURCE: Reuters
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