Retail in Richmond

[burt]

Attention Stephen Rocks!

Do you have access to published dollar sales at the major stores in Richmond's newest shopping meccas? Someone hints that Richmond's Nordstrom's is not doing as well as expected and I wonder if that is the case? My two visits to the store were on days when it seemed comfortably patronized. I've also been in the Seattle location which is, of course, MUCH larger, but I was impressed by the stylishness of the Short Pump store. Looked as good as a lot of stores here in New York, IMO.

[StevenRocks]

Attention Stephen Rocks!

Do you have access to published dollar sales at the major stores in Richmond's newest shopping meccas? Someone hints that Richmond's Nordstrom's is not doing as well as expected and I wonder if that is the case? My two visits to the store were on days when it seemed comfortably patronized. I've also been in the Seattle location which is, of course, MUCH larger, but I was impressed by the stylishness of the Short Pump store. Looked as good as a lot of stores here in New York, IMO.

I don't have any specific numbers on Richmond department stores, but I don't think Nordstrom, Saks or any of the other major players in the market are below plan.

A lot of times, these rumors are just that, rumors. Nordstrom and Saks both entered the market with smaller stores that it's hard to lose money on, even when you sell expensive stuff.

[burt]

Thank you, Stephen. A lot of us rely on your retailing expertise.

I hope mallguy's comment about West Elm was just a rumor.

Edited August 13, 2006 by burt

[burt]

Brooks Brothers is expanding its women's apparel line and is taking over parts of adjacent space at Stony Point Fashion Park formerly occupied by Adrienne Vittadini and Carolee Designs. All three chains are owned by Retail Brand Alliance which has been divesting itself of the Vittadini and Carolee brands to focus on Brooks Brothers.

Plan 9, the popular Carytown music store, has purchased certain assets of The Record Exchange stores in Virginia and North Carolina. Lynchburg and Roanoke stores will be renamed Plan 9 when they reopen in the next two weeks.

Edited August 28, 2006 by burt

[StevenRocks]

Brooks Brothers is expanding its women's apparel line and is taking over parts of adjacent space at Stony Point Fashion Park formerly occupied by Adrienne Vittadini and Carolee Designs. All three chains are owned by Retail Brand Alliance which has been divesting itself of the Vittadini and Carolee brands to focus on Brooks Brothers.

Adrienne Vittadini and Carolee never seemed to get many customers. I'm not suprised they were closed.

[Cadeho]

K-Mart? Wal-Mart? Target?

[burt]

K-Mart? Wal-Mart? Target?

Is this another of your obscure private comments or are you asking a question?

[Cadeho]

Trying to throw some bait out for a convo on places I've heard about and know where they are... and I can pronounce!

Edited August 29, 2006 by Cadeho

[wrldcoupe4]

The article mentioned they were in Stony Point Fashion Park...

[Cadeho]

It's a joke man LIGHTEN UP GEEEEEZ!

[burt]

Burried deep in the VERY interesting cover story in today's Style is a hint that a "major retailer" may anchor a renovated Carpenter Center. I would say it would be a safe assumption that such a business would rise above the hole in the ground and not at the 7th and Grace site.

[StevenRocks]

Please let it not be a Target. One would be very cool downtown, but they're opening so many nowadays, it's becoming anticlimactic.

[burt]

Please let it not be a Target. One would be very cool downtown, but they're opening so many nowadays, it's becoming anticlimactic.

Eventho there's talk that Miller & Rhoads Hilton may be downgraded to a Hilton Garden Inn, the item about a store anchoring the Carpenter Center uses the words "a major retailer".

It's all rumors, Stephen, so we'll keep our fingers crossed and hope for the possibility of something more appealing than a Target.

[Cadeho]

A Target in downtown Richmond would be a huge leap and I would be there ALL the time. Anything major to me would be welcomed.

[wrldcoupe4]

Tommy's link to the Towne Center West development offers some interesting info, and I was wondering what our retail gurus thought about it...

1. Short Pump Town Center boasts average retail sales of $450 - $500 per square foot. Apparently this is the most in the Richmond area.

2. The Cheesecake Factory adjacent to Towne Center West is estimated to have an average sales of $10 million per year making it the most successful restaurant in Richmond.

[burt]

Tommy's link to the Towne Center West development offers some interesting info, and I was wondering what our retail gurus thought about it...

1. Short Pump Town Center boasts average retail sales of $450 - $500 per square foot. Apparently this is the most in the Richmond area.

2. The Cheesecake Factory adjacent to Towne Center West is estimated to have an average sales of $10 million per year making it the most successful restaurant in Richmond.

I think the webt site quoted those $400/$500 s/f figures for fiscal 2004, so with new store openings at SPTC I would extimate sales figures are higher now.

Steven Rock would know, but I think these sales figures are considerably higher than the National average for Lifestyle Centers.

Edited September 18, 2006 by burt

[wrldcoupe4]

Saks Shelves Youth Look to Reclaim Core Clientele

The article for the most part is about Sak's overall, though there are some portions about the Richmond store... some excerpts:

Benjamin DeWinter believes his business is beginning to bloom again.

The manager of the Saks Fifth Avenue store in Richmond knows firsthand the struggles the chain has dealt with in the past two years, largely with fashion merchandise that skewed too young....

Those changes took place just months after Saks opened its local store at the Stony Point Fashion Park in September 2003.

"That was a challenge for us . . . as we were going through our infancy," said DeWinter, who has managed the local store since it opened.....

The Richmond store is nearly full with fall merchandise, a stark contrast to its spring selling season when some departments received little or no clothing or accessories....

"We had become too clean," Frasch said. "We want to put more products on the floor so customers can see the depth and breadth of our offering."

....For example, the Richmond store has merchandise that appeals more to a Southern, sophisticated, classic woman, DeWinter said.

The local store also has made other changes, including expanding its offering of women's contemporary apparel.

[StevenRocks]

I think the webt site quoted those $400/$500 s/f figures for fiscal 2004, so with new store openings at SPTC I would extimate sales figures are higher now.

StevenRocks would know, but I think these sales figures are considerably higher than the National average for Lifestyle Centers.

StevenRocks does know! Those are great sales figures for a mall, considerably above the national average. The Cheesecake Factory numbers are closer to average but still good considering the size of the market.

[burt]

I wonder what's going on with retail negotiations at Watkins Centre? Could there be a Nieman Marcus and perhaps a Bloomingdale's in its future? If Town Center West in its web site claims median income in a 10-mile radius ranges from $107K to $170K, it probably is higher on average across the river in northwestern Chesterfield.

[wrldcoupe4]

The highest median houshold incomes in Richmond are in the Midlothian area...

[StevenRocks]

I wonder what's going on with retail negotiations at Watkins Centre? Could there be a Neiman Marcus and perhaps a Bloomingdale's in its future? If Town Center West in its web site claims median income in a 10-mile radius ranges from $107K to $170K, it probably is higher on average across the river in northwestern Chesterfield.

Neiman Marcus could happen, seriously, at Watkins Centre. I read a recent article on NM and its CEO said they're looking for new markets with both high income and a demand for high-fashion merchandise.

So what does this mean? It means Richmond's halfway there. If NM's research can show a demonstrated demand for the offerings, Richmond's chances of getting one are very good.

[Downtowner]

Wow that would be awesome to have a Neiman Marcus here. I would also feel like they would do very well with one here.

[Cadeho]

Call me lazy, but I stopped reading when I saw this.

Ukrop's' fried chicken beats KFC and every other place. I am addicted to it! I really would love the recipe. And the potato wedges... to die for in my opinion. I said when I was in Fredericksburg, I couldn't live where there wasn't a Ukrops. So, Fredersicksburg, check! Williamsburg, check! Waiting for Roanoke... is it open yet?

Anyway, if you know me from the other site, my feelings about Short Pump can't be missed. I hate the darned place and have ever since plans were announced. I will never set foot near that mall, nor will I set foot at Stoney Point. The only thing that saves Stoney Point in my opinion is it's in the city. I will always believe we need to fight to get downtown as a retail achor for the region as what I feel is part of the appropriate definition of a downtown. Make parking easier, destroy the fears loft suburbanites have of city folks and the totally out of control crime they think exists there, find some people willing to take a risk and it can be done. I feel downtown is increasingly having space for such developments squeezed out with all the conversions to apartments and other plans that aren't centered on retail. Small stores are good. Unique stores are good. Even chain stores are good (believe me the east enders really have to travel to get to places that seem to be on every corner in the west end). Big stores would be great. Although it wouldn't have been downtown, it would have been interesting to see the Diamond site made into a little shopping district with stores that suburbanites take for granted.

HAHA I found this on a Google search last nigth relating to Ukrop's chicken. I also found the recipe! Well part of it... it was mysteriously removed, but the page it was on still had a preview in the search. But at least I have a clue!

[Shakman]

A new high end clothing store will soon open along the Slip. It is called Anthony Lupesco. From a sneak peak, the tenant fit out is almost complete. Clothing racks are currently being installed and it appears that boxes of merchandise have arrived.

[wrldcoupe4]

Great Update! Im surprised we've heard nothing about it!