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December 2004
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Cover
Story
New York’s Finest: The Empire State’s Outlet Centers
Beefed-up tenant mixes, capital improvements, stronger marketing and even
plans for the first outlet center to be built in the state in nearly a
decade appear to be paying off for developers as tourism returns and the
job market brightens.
Features
Linen Outlet Looks Beyond California
Unlike its parent company, Anna’s Linens, which primarily chooses urban
sites, Linen Outlet’s more upscale merchandise draws from a demographic
that fits the outlet-shopper profile and produces average transactions
of about $50.
Retail Briefs
KB Toy’s second round of major closings – at least 141
stores – largely spares outlet centers; Levi Strauss
cancels plans to sell Dockers; a report on changing
shopping patterns for men; and a study confirming low
customer-service standards among apparel retailers.
Largest Outlet-Center Markets
Exclusive VRN research shows that five outlet-center
markets have more than 1 million sf of GLA, and of the top 10 markets, only three
have just one developer – Chelsea Property Group, Tanger Factory Outlet Centers,
and Prime Retail. Tanger has the most presence with eight centers in five of the 10
largest markets.
August Sales Index
Fifty-nine outlet chains reported that their August sales dropped by 6.2 percent
compared to last year. The biggest category losers were shoes and other merchandise;
the Midwest was the hardest hit region.
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