SouthPark Mall

[Miesian Corners]

Strong rumor that Nieman's is considering closing the Charlotte store. Merchandise is sitting and the store is hemorrhaging money. Further bad news is that the Billy Reid store went from being first in sales (in the chain) to the bottom. The Charleston, SC store actually has higher sales per square foot, but from what I'm told, Billy is committed to Charlotte. Hermes is also rumored to be on the way out. Discuss...

[101_ce]

Strong rumor that Nieman's is considering closing the Charlotte store. Merchandise is sitting and the store is hemorrhaging money. Further bad news is that the Billy Reid store went from being first in sales (in the chain) to the bottom. The Charleston, SC store actually has higher sales per square foot, but from what I'm told, Billy is committed to Charlotte. Hermes is also rumored to be on the way out. Discuss...

Thats bad. I hope none of these happen. *Stupid Recession* lol. To boost sales, if they ever open a Last Call here, they should give 5-10% off coupons (with exclusions) and you can only use it at the regular store.

[nyxmike]

Strong rumor that Nieman's is considering closing the Charlotte store. Merchandise is sitting and the store is hemorrhaging money. Further bad news is that the Billy Reid store went from being first in sales (in the chain) to the bottom. The Charleston, SC store actually has higher sales per square foot, but from what I'm told, Billy is committed to Charlotte. Hermes is also rumored to be on the way out. Discuss...

Wow, that would be a huge blow to the mall and the area. I hope this doesn't happen. Where are you hearing these rumors from?

Personally, I think Saks Fifth Avenue would have been a better choice than Neiman Marcus. Charlotte just isn't "there" yet in terms of wealth and the recession is making things worse. Saks is more reasonable and has more variety in terms of prices and we already have the Off Saks outlet store at Concord Mills. I don't even think Saks is expanding, at least not until the economy improves, so I'd imagine that space would be sitting empty for quite awhile...

[JerseyBoy]

Yikes...

Have they ever had to do that before (close a store that is underperforming)? That's 40% of the new wing (not including Neiman Marcus) whose future is uncertain if these rumors are true. I've gone into Neiman's a few times and I can't say that I have seen that many people buying items. It's mostly people browsing from what I have seen. Perhaps the upscale retail market here was overestimated and now we're seeing the possible effects?

[StevenRocks]

I've heard Neiman Marcus was in trouble, but this is the first I've heard of Billy Reid or Hermes being in distress. It would be sad, but not the end of the world if those stores left. Times are tough and that level of luxury retail isn't doing so well anywhere. If the market is there, they will be back, or it could lead to something cooler or more sales appropriate coming in their place.

One thing to keep in mind is that retail is competitive, but what city has what store isn't really that important. Charlotte didn't have these stores before 2006 and it survived. If they close, which I figure will be after the holidays, it won't matter that much beyond the job losses. Charlotte is still cool. SouthPark still has some serious luxury retail. Both of those facts will lead to the spaces being filled in no time.

[101_ce]

I've heard Neiman Marcus was in trouble, but this is the first I've heard of Billy Reid or Hermes being in distress. It would be sad, but not the end of the world if those stores left. Times are tough and that level of luxury retail isn't doing so well anywhere. If the market is there, they will be back, or it could lead to something cooler or more sales appropriate coming in their place.

One thing to keep in mind is that retail is competitive, but what city has what store isn't really that important. Charlotte didn't have these stores before 2006 and it survived. If they close, which I figure will be after the holidays, it won't matter that much beyond the job losses. Charlotte is still cool. SouthPark still has some serious luxury retail. Both of those facts will lead to the spaces being filled in no time.

At least if they do close, they could put a GUCCI there

[nyxmike]

I've heard Neiman Marcus was in trouble, but this is the first I've heard of Billy Reid or Hermes being in distress. It would be sad, but not the end of the world if those stores left. Times are tough and that level of luxury retail isn't doing so well anywhere. If the market is there, they will be back, or it could lead to something cooler or more sales appropriate coming in their place.

One thing to keep in mind is that retail is competitive, but what city has what store isn't really that important. Charlotte didn't have these stores before 2006 and it survived. If they close, which I figure will be after the holidays, it won't matter that much beyond the job losses. Charlotte is still cool. SouthPark still has some serious luxury retail. Both of those facts will lead to the spaces being filled in no time.

I'm not worried about finding replacements for Hermes and Billy Reid if they were to close, but about finding another department store for the Neimans space. Saks and Bloomingdales (maybe Barney's?) are the only department stores that would fit in that wing of the mall but I'm pretty sure none of them are expanding anytime soon. It wouldn't be a good thing to have such a large space sitting empty like that.

[Temeteron]

I'm not worried about finding replacements for Hermes and Billy Reid if they were to close, but about finding another department store for the Neimans space. Saks and Bloomingdales (maybe Barney's?) are the only department stores that would fit in that wing of the mall but I'm pretty sure none of them are expanding anytime soon. It wouldn't be a good thing to have such a large space sitting empty like that.

Not good news at all......I could care less about Billy Reid & Hermes....however NM is a huge thing for us.....Cosmetics & shoes do well...the men's dept not so well.....I noticed that the Coplon's store at Phillip's Place has moved to a different location & downsized significantly. I don't know if that's from the NM opening a few years ago or simply from the economy.....I hope things get better.

[StevenRocks]

I'm not worried about finding replacements for Hermes and Billy Reid if they were to close, but about finding another department store for the Neimans space. Saks and Bloomingdales (maybe Barney's?) are the only department stores that would fit in that wing of the mall but I'm pretty sure none of them are expanding anytime soon. It wouldn't be a good thing to have such a large space sitting empty like that.

Personally, I'm not worried about department stores in that space. Have you been to Nordstrom in larger cities? Many of the brands Neiman Marcus has are available from them (and the service tends to be a little better). That space could be divided up for new small stores or it could go to Saks or Barneys, but I'm convinced it won't stay empty for long.

Not good news at all......I could care less about Billy Reid & Hermes....however NM is a huge thing for us.....Cosmetics & shoes do well...the men's dept not so well.....I noticed that the Coplon's store at Phillip's Place has moved to a different location & downsized significantly. I don't know if that's from the NM opening a few years ago or simply from the economy.....I hope things get better.

I'll tell you why apparel hasn't done well at NM Charlotte. There is no attempt to connect with the market. The designers were trendy but fits were very, very off. People who live in Charlotte eat! Clothing for the emaciated will not sell, and did not sell. Even in good times, some of what they were passing off as the latest fashion was horribly overpriced and largely overrated. There was no restaurant, no kids clothes, occasional flashes of good service but not always, and a general aloofness that pervaded the place.

I'm a long time NM cardholder and a massive fan, but I'm not blind. I don't want them to go. I want them to stay and improve.

Edited September 21, 2009 by StevenRocks

[atlrvr]

There is no attempt to connect with the market. The designers were trendy but fits were very, very off. People who live in Charlotte eat! Clothing for the emaciated will not sell, and did not sell.

Hahahaha....how true. NM in Charlotte has not impressed me. I went in there the other day to buy a new relatively conservatively styled tie, with price as no object, and couldn't find anything that fit the bill, nothing even close. Belk, Nordstrom, and Taylor Richard Conger all had ties that were acceptable. Everything at NM was too loud and "trendy". In a city where the big money makers are at banks, maybe they should try to match the market. Similarly I went to NM a couple of months ago to buy a specific styled trouser. They had something that was part of a suit I liked, but that was it. I went to TRC, and the same story there, except they were customer focused enough to split the suit for me. Therefore, they got my business. I can't speak for women, but TRC kicks their ass for top-of the market menswear, and especially in terms of customer service. I would assume Capitol is the same story for women.

In terms of Billy Reid though, I hope they stay. The clothes are fantastic as is the customer service.

[nyxmike]

I'll tell you why apparel hasn't done well at NM Charlotte. There is no attempt to connect with the market. The designers were trendy but fits were very, very off.

I agree with that statement too. If NM wants to be more successful here, they need to stock the store with inventory that will sell in this market. I think the mens section at Nordstrom expanded a little bit, so they must be doing alright. I wonder if their payment policy (only Amex, NM card, or cash) turns some people away?

Steven, do you know if Saks is expanding? And do you think they would take a risk and open up a store here if NM were to close?

[StevenRocks]

Hahahaha....how true. NM in Charlotte has not impressed me. I went in there the other day to buy a new relatively conservatively styled tie, with price as no object, and couldn't find anything that fit the bill, nothing even close. Belk, Nordstrom, and Taylor Richard Conger all had ties that were acceptable. Everything at NM was too loud and "trendy". In a city where the big money makers are at banks, maybe they should try to match the market. Similarly I went to NM a couple of months ago to buy a specific styled trouser. They had something that was part of a suit I liked, but that was it. I went to TRC, and the same story there, except they were customer focused enough to split the suit for me. Therefore, they got my business. I can't speak for women, but TRC kicks their ass for top-of the market menswear, and especially in terms of customer service. I would assume Capitol is the same story for women.

In terms of Billy Reid though, I hope they stay. The clothes are fantastic as is the customer service.

The specialty stores in Charlotte, especially in the SouthPark area, are very strong. The service levels are high as well as the taste levels of the buyers, so simply putting a standard NM in SouthPark mall wasn't the answer. To make it work, they are going to have to step it up a notch.

I agree with that statement too. If NM wants to be more successful here, they need to stock the store with inventory that will sell in this market. I think the mens section at Nordstrom expanded a little bit, so they must be doing alright. I wonder if their payment policy (only Amex, NM card, or cash) turns some people away?

Steven, do you know if Saks is expanding? And do you think they would take a risk and open up a store here if NM were to close?

Regarding NMs payment policy: I think it's very backward. I have both cards so it's not an issue for me, but if I didn't, it would make me consider shopping elsewhere, especially since everyone else in the mall takes MasterCard & Visa.

I think Saks wants a Charlotte store. Whether that will be at SouthPark is beyond my knowledge, but it's a prize location in the dead center of their biggest potential market in the city. I think it could be a go if NM leaves.

[DigitalSky]

The irony is if Neiman's does move out and Saks does move in - well the original plan was for that wing to have a Saks.

I'm personally hoping for Sears to come back to SouthPark.

jk. JC Penney really.

ok really jk

[StevenRocks]

I dunno guys. The crowds at Neiman's during this month's Fashion's Night Out suggest there could be some life left in the store. Maybe we shouldn't be giving NM SouthPark eulogies just yet.

[mallguy]

I wonder if their payment policy (only Amex, NM card, or cash) turns some people away?

After being lectured and looked down upon by the sales associate when I was trying to buy an overpriced pair of jeans at the Charlotte Neimans because all I had on me was a Visa card, I am never buying (or trying to buy) anything from that store ever again.

(I then went to the Dillard's outlet at Eastland and found a pair jeans that looked almost exactly the same, for 90% less.)

Still, losing the store would be a huge blow for mall prestige. Maybe the store could open up a restaurant and reduce some of the sales floor? Those NM restaurants are terrific.

Edited September 24, 2009 by mallguy

[sakami]

I don't know if it is true but a sales person at the store explained to me the rationale behind only accepting the NM card or Amex is Amex doesn't sell their customer information, whereas both Visa and Mastercard will sell it to anyone.

[StevenRocks]

I don't know if it is true but a sales person at the store explained to me the rationale behind only accepting the NM card or Amex is Amex doesn't sell their customer information, whereas both Visa and Mastercard will sell it to anyone.

I've seen ads in retail trade publications where American Express offers customer information to retailers, so I doubt if that is a valid argument for only taking AmEx cards.Also, NM's credit card program is administered by HSBC, which also distributes Visa and MasterCard cards through their bank and retail partners, including Best Buy.

[mljones99]

Hermes is also rumored to be on the way out.

I can assure you that isn't happening.

Edited September 25, 2009 by mljones99

[101_ce]

I can assure you that isn't happening.

Most rumors arent true, at least it seems that way.

Edited September 25, 2009 by ct36

[brokenraven]

Strong rumor that Nieman's is considering closing the Charlotte store. Merchandise is sitting and the store is hemorrhaging money. Further bad news is that the Billy Reid store went from being first in sales (in the chain) to the bottom. The Charleston, SC store actually has higher sales per square foot, but from what I'm told, Billy is committed to Charlotte. Hermes is also rumored to be on the way out. Discuss...

Where does the rumor come from? Things can turn around quickly; the last I heard about Neiman Marcus is that it had an amazing grand opening and that they were planning a restaurant. I suppose the poor economy is the main culprit?

[Norm2]

I suppose all of the rich bankers aren't spending money these days!

[mallguy]

I suppose all of the rich bankers aren't spending money these days!

They're unemployed- Neiman Marcus has had significant drops in sales per square foot in its stores overall and with Charlotte having pretty high and unexpected banking-related unemployment, I'd think that there could be some challenges.

Still, Neiman Marcus very rarely closes stores and I am sure that the chain did careful research before opening- I'd be very surprised if it quickly pulled out of the market.

[JerseyBoy]

FWIW, there is a small grocery and coffee shop called Caffe Prada in Downtown Winston-Salem and while I was in there this morning I noticed that Neiman Marcus South Park advertises on the numerous plasma televisions throughout the store.

[atlrvr]

True Religion Brand Jeans is opening a store at SP. I don't know which space it will go.

[101_ce]

True Religion Brand Jeans is opening a store at SP. I don't know which space it will go.

Wow finally an upscale replacement