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Old 11-14-2017, 07:59 AM
 
Location: Philadelphia
2,539 posts, read 2,350,137 times
Reputation: 2706

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Has anyone heard of any progress with the Red Wing store supposed to open in the old Puma site on Walnut. The sign has been on the building for nearly 2 months without any work. You would think they would want to open this quarter before the holidays, or at the least the beginning of the year. Boot sales are not necessarily strong in the spring/summer months.

I really think Red Wing compliments Walnut well. A superior product. at a manageable cost. Many men will utilize/welcome this addition and I think the store will do very well.
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Old 11-14-2017, 09:04 AM
 
Location: New York City
9,448 posts, read 9,471,166 times
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Stargazy and Mighty Bread Co. Are Bringing Grilled Cheese to The Bourse

On another retail note, I am excited for the food hall at the Bourse to open next summer! So many great eateries signing on.
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Old 11-14-2017, 09:07 AM
 
Location: Philadelphia
1,712 posts, read 994,797 times
Reputation: 1330
If it turns out anything like the plans, it'll be a home run at the Bourse. The traffic there is heavy even with the bag 'o sh_t food court they had there before.
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Old 11-14-2017, 01:30 PM
 
Location: The place where the road & the sky collide
23,816 posts, read 34,864,325 times
Reputation: 10258
Quote:
Originally Posted by cpomp View Post
There is a terrain/ Anthropologie development in the works in Devon and there is already one in Glen Mills so that isn't happening, but a concept similar to that would be very nice.

I know a huge Lifetime Fitness just opened nearby, but I think an Equinox with some sort dining pavillion, a bowling alley/ game place (similar to Spin in Philadelphia), Topshop/ Topman/ Nike/ Lego World/ American Girl setup would be very beneficial for the Mall. The super high-end retail is more centered on the other half.

Barneys is great, but I don't think Kop needs/ should have a Barneys because it would pretty much seal Philadelphia's fate as a second rate retail market.



Boscovs was interested in the Mall a few years ago, but were priced out/ Simon wasn't too enthused about the idea. I am not making that up either.
I don't doubt you. Boscov had financial problems several years ago. They sold themselves, bought themselves back, then Mr Boscov died. I don't know where they're at right now. However, since not everyone wants to buy high end, Simon might look to Belk to fill a need. Belk has city, suburban, small town & somewhat rural experience. They could come into the market without adjustments to their inventory. The new owners have planted a store in Westminster, Maryland which would draw customers from Baltimore County in Maryland & areas of Pennsylvania, including Gettysburg. That looks like a test to me. They also know, at this point, what they want to do with problems in the deep South. They could spin them off or sell them off. The current Belk ads do not include the usual Modern. Southern. Style. at the end.

Then there's the fact that in the last 50 years more retail has entered the Philadelphia market, successfully from the south than from NYC. When the Philadelphia Gimbels went under, Sterns came in & that was very short-lived.

It would be nice if the Strawbridge family got back into retail, but if they do, that's for the future, not right now.
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Old 11-14-2017, 01:39 PM
 
Location: The place where the road & the sky collide
23,816 posts, read 34,864,325 times
Reputation: 10258
Quote:
Originally Posted by MarketStEl View Post
As we're busy speculating on who Simon might be approaching/the best way to redo the former JCPenney space, it just hit me that I read somewhere about a year or so ago that there was a Strawbridge out there who wanted to get back into the retailing business.

Dare we hope?
There's always hope.
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Old 11-14-2017, 01:49 PM
 
Location: Philadelphia
2,539 posts, read 2,350,137 times
Reputation: 2706
Simon has the numbers to assess and analyze what best will work to be the next retailer/concept for the JC Penny spot. Having more data concerning mall performance would be a huge factor in the decision. I guarantee a metric Simon is going after, is to elevate sales per square foot and break into the top of the market. The higher their sales per square foot, the more likely they can land exclusive retailers, that might only have 10 U.S stores or less. I think their goal of elevating their sales metrics is a MAJOR factor going into who they are courting.


I think the mall has tested several concepts/markets with its new wing. Including how high end KOP can go, it certainly is one of the most luxurious malls in the USA, but still has some room for growth for super high end. (The region definitely has enough wealth to support it). They also are testing the new experience model, by incorporating more full service restaurants, and really emphasizing them within the mall concept. Their success definitely determines in which ways they will look for growth.

Simon knows what they are doing. If Belk comes to the mall, I would feel neutral, it certainly is a better store than JC Penny.

But the list of potential tenants Simon certainly could land with KOP include:

Barneys
Massimo Duti
Dean & Deluca
Topshop
All Saints (this project seems to have stalled for now)
H & M Home
J. Crew Men's Shop
Sandro

There is a whole slew of others. But these come to mind first. Barney's is really not super high end. It fits in about the same category as Bloomingdale's and is less exclusive than Neiman Marcus & Saks. It is far more fashionable than Nordstrom. I have shopped at Barney's on Walnut St. and walked out with many items under $100 as have my young professional colleagues. It is approachable and attractive to a variety of income levels, and why I see it being very successful to KOP. Their store footprint is not the traditional department store 150,000+ sq feet size, and it certainly would not occupy the entire JC Penny space.

Last edited by rowhomecity; 11-14-2017 at 02:10 PM..
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Old 11-14-2017, 02:24 PM
 
Location: The place where the road & the sky collide
23,816 posts, read 34,864,325 times
Reputation: 10258
Quote:
Originally Posted by rowhomecity View Post
Simon has the numbers to assess and analyze what best will be the next suitor for the JC Penny spot. We are making analysis without the right data. I think the mall has tested several concepts/markets with its new wing. Including how high end KOP can go, it certainly is one of the most luxurious malls in the USA, but still has some room for growth for super high end. They also are testing the new experience model, by incorporating more full service restaurants, and really emphasizing them within the mall concept. Their success definitely determines in which ways they will look for growth.

Simon knows what they are doing. If Belk comes to the mall, I would feel neutral, it certainly is a better store than JC Penny.

But the list of potential tenants Simon certainly could land with KOP include:

Barneys
Massimo Duti
Dean & Deluca
Topshop
All Saints (this project seems to have stalled for now)
H & M Home
J. Crew Men's Shop
Sandro

There is a whole slew of others. But these come to mind first. Barney's is really not that high end. It fits in about the same category as Bloomingdale's and is less exclusive than Neiman Marcus & Saks. I have shopped at Barney's on Walnut St. and walked out with many items under $100 as have my young professional colleagues. It is approachable and attractive to a variety of income levels, and why I see it being very successful to KOP.
I'm just saying that Belk is a possibility, & explained why I think that. They might also look at it for Center City. Or. . .Simon might not be looking at Belk at all. Maybe the new owners of Belk are looking at DC, Baltimore, & Philadelphia. The locations of the new stores in Maryland aren't a coincidence. Those are tests, in areas where they aren't paying huge rents.
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Old 11-14-2017, 02:41 PM
 
Location: Philadelphia
2,539 posts, read 2,350,137 times
Reputation: 2706
Quote:
Originally Posted by southbound_295 View Post
I'm just saying that Belk is a possibility, & explained why I think that. They might also look at it for Center City. Or. . .Simon might not be looking at Belk at all. Maybe the new owners of Belk are looking at DC, Baltimore, & Philadelphia. The locations of the new stores in Maryland aren't a coincidence. Those are tests, in areas where they aren't paying huge rents.
I won't complain if Belk is courted. Belk is within other Simon properties in the south. I see Belk aligning more with Willow Grove Mall and the vacant JC Penny space there than at KOP though. Willow Grove is more of a Mid Market mall. It has a Bloomingdales, William Sonoma, Apple Store and some other nicer stores, and is the 3rd most profitable mall after KOP and Cherry Hill. Willow Grove is the mid market compliment to KOP in the PA burbs, and why I see Belk doing well there per say.

I am not sure what Simon's strategy is with King of Prussia. One would have to read a Financial report issued by Simon regarding mall performance to understand what direction they want to take KOP. Because of its size Simon and the variety of stores there are lots of paths the mall can take with the space. If they want to get creative though I really see them using the opportunity with JC Penney and doing something bigger than another traditional department store.

Last edited by rowhomecity; 11-14-2017 at 04:11 PM..
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Old 11-14-2017, 06:35 PM
 
Location: The place where the road & the sky collide
23,816 posts, read 34,864,325 times
Reputation: 10258
Quote:
Originally Posted by rowhomecity View Post
I won't complain if Belk is courted. Belk is within other Simon properties in the south. I see Belk aligning more with Willow Grove Mall and the vacant JC Penny space there than at KOP though. Willow Grove is more of a Mid Market mall. It has a Bloomingdales, William Sonoma, Apple Store and some other nicer stores, and is the 3rd most profitable mall after KOP and Cherry Hill. Willow Grove is the mid market compliment to KOP in the PA burbs, and why I see Belk doing well there per say.

I am not sure what Simon's strategy is with King of Prussia. One would have to read a Financial report issued by Simon regarding mall performance to understand what direction they want to take KOP. Because of its size Simon and the variety of stores there are lots of paths the mall can take with the space. If they want to get creative though I really see them using the opportunity with JC Penney and doing something bigger than another traditional department store.
I don't want to pretend to know what's up, but Belk isn't in Maryland for no reason.

I think that Simon has several plans for King of Prussia. Whoever they make the most lucrative deal with will determine which plan they go with. On the other hand, as I said, Simon may have no plans for Belk. Belk's new owners may have plans. Maybe both.

Simon does have to straddle a line. Millennials are aging. Their tastes will change somewhat as they marry & have kids.

I remember something that one of my grandmothers used to say. The more things change, the more they stay the same.
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Old 11-15-2017, 09:17 PM
 
63 posts, read 25,973 times
Reputation: 89
Quote:
Originally Posted by rowhomecity View Post
Simon has the numbers to assess and analyze what best will work to be the next retailer/concept for the JC Penny spot. Having more data concerning mall performance would be a huge factor in the decision. I guarantee a metric Simon is going after, is to elevate sales per square foot and break into the top of the market. The higher their sales per square foot, the more likely they can land exclusive retailers, that might only have 10 U.S stores or less. I think their goal of elevating their sales metrics is a MAJOR factor going into who they are courting.


I think the mall has tested several concepts/markets with its new wing. Including how high end KOP can go, it certainly is one of the most luxurious malls in the USA, but still has some room for growth for super high end. (The region definitely has enough wealth to support it). They also are testing the new experience model, by incorporating more full service restaurants, and really emphasizing them within the mall concept. Their success definitely determines in which ways they will look for growth.

Simon knows what they are doing. If Belk comes to the mall, I would feel neutral, it certainly is a better store than JC Penny.

But the list of potential tenants Simon certainly could land with KOP include:

Barneys
Massimo Duti
Dean & Deluca
Topshop
All Saints (this project seems to have stalled for now)
H & M Home
J. Crew Men's Shop
Sandro

There is a whole slew of others. But these come to mind first. Barney's is really not super high end. It fits in about the same category as Bloomingdale's and is less exclusive than Neiman Marcus & Saks. It is far more fashionable than Nordstrom. I have shopped at Barney's on Walnut St. and walked out with many items under $100 as have my young professional colleagues. It is approachable and attractive to a variety of income levels, and why I see it being very successful to KOP. Their store footprint is not the traditional department store 150,000+ sq feet size, and it certainly would not occupy the entire JC Penny space.
Barneys is super high end store have you been to the flagships on 61 in NYC or LA?. They offer exclusive brands that Neimans and Saks dont offer. Its just the store in Philly is not a full on Barneys. It use to be a Co-op
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