CSA Nov/Dec 2023 by ensembleiq

November/December 2023

ICSC New York: Show Scoop More DTC Brands Go Physical Tech 2024 Preview

THE FOREFRONT OF PHYSICAL RETAIL

March 10-12, 2024 Gaylord Texan Resort & Conference Center Grapevine, Texas

SUN BELT EXPANSION

Retail rises in ‘The Big Smile’

from the editor’s desk

tech viewpoint: a retail tech column

Contents VOL. 98 NOVEMBER/DECEMBER NO. 6

COVER STORY

EXPANSION HEATS UP IN ‘THE BIG SMILE’ New retail construction continues to flourish across the country’s Sun Belt region.

Retailers face new legal requirements in California.

STORE SPACES

More direct-toconsumer brands are entering brickand-mortar.

Woof Gang Bakery & Grooming is on the fast track for expansion.

Amazon Fresh store in Seattle achieves a climate first.

Trending Stores: Sustainable apparel brand Outerknown expanding in brickand-mortar.

Legacy Group’s Matthew Perry discusses how retailers can optimize their facility management programs.

Preview of SPECS 2024

Dollar Tree offsets energy needs with community solar project.

Coming Attractions: Streaming giant Netflix to open stores.

CSA (USPS 054-410; ISSN 0193-1199), is published bimonthly by EnsembleIQ, 8550 W. Bryn Mawr Ave., Suite 200, Chicago, IL 60631, on a controlled basis to qualified retailer titles and architects. Real estate and shopping center owners and developers $75 per year. All other non-qualified in the United States: $96 one year; $186 two year; $17 single issue copy; Canada and Mexico: $138 one year; $258 two year; $19.20 single issue copy; Foreign: $138 one year; $258 two year; $16 single issue copy. Digital edition subscription: $55 one year digital; $105 two year digital. Periodicals postage paid at Chicago, IL and additional mailing offices. P OSTMASTER: Please send address changes to CSA, Circulation Fulfillment Director, 8550 W. Bryn Mawr Ave, Suite 200, Chicago, IL 60631. Subscription changes may also be emailed to contact@chainstoreage.com, or call 1-877-687-7321. Vol. 98, No. 2, March/April 2023. Copyright ©2023 by EnsembleIQ. All rights reserved.

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NOVEMBER/DECEMBER 2023

Contents VOL. 98 NOVEMBER/DECEMBER NO. 6

CBL’s Stephen Lebovitz

REAL ESTATE

TECH

The ICSC New York SHOW SCOOP Things keep moving fast in retail real estate. Where is it going? Find out what the leading developers in the industry are thinking… • Stephanie Webster on current challenges in retail expansion • Joe Coradino on the new mall consumer

• Stephen Lebovitz on the mall’s new life

Tech Trends: Keep an eye on generative AI, retail media networks and TikTok.

Fashion apparel retailer Free People unlocks sales with livestream commerce.

• Josh Poag on doing deals in a challenging market

• Whitney Livingston on retail’s fast-changing environment

NOVEMBER/DECEMBER 2023

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FROM THE EDITOR’S DESK

Must-See Retail The past year was a busy one for retail in New York City. From national chains to luxury brands, the city was abuzz with new store openings — and the return of one of its most iconic retail landmarks. As retailers journey to the Big Apple for the ICSC New York event in December and the NRF Big Show in January, here are my picks for the year’s must-see stores. •Abercrombie & Fitch: The retailer showing off a more sophisticated and refined image at its new flagship, which has an inviting, residential vibe. (668 Fifth Avenue) •Century 21: It’s back! After going dark in 2020, the famed off-price department store reopened with a downsized format that features four floors of designer fashions, accessories and more. The store has been improved with better lighting and bigger fitting rooms. (22 Cortlandt Street) •Glossier: The digitally native beauty brand’s NYC flagship offers an immersive experience that includes product testing areas, a “selfie room” with a constant live feed that broadcasts the selfie moments in-store and a spacious lounge area. (72 Spring St.) •Gucci: With a design inspired by New York and Florence, the 9,000-sq.-ft.-plus boutique has a 1970s aesthetic, with mirrored surfaces and vintage midcentury furniture. Unique details include the painted cement flooring which was drawn from historic Florentine marble motifs. Two of the dressing rooms are decorated with upcycled archival fabrics from past Gucci collections, including a white and purple houndstooth pattern. (400 West 14th St.) •Miniso: China-based value retailer Miniso has been ramping up its expansion across the U.S. Its new Times Square store features nine dedicated 6

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product zones, including licensed collections, “blind box” collectibles, toys, plushies, fragrances, accessories, makeup tools, stationery and snacks. (5 Times Square) •Petco: Designed as a one-stop health and wellness destination for pets, the stylish, two-level 25,000-sq.ft. store combines the best of the brand’s digital and physical offerings. It houses a full suite of experiences, products and services, including a fullservice veterinary hospital, a pet salon, an indoor dog training park and selfservice grooming. A gourmet kitchen prepares small-batch, human-grade pet meals.(44 Union Square) •Tiffany & Co.: The interiors of the iconic 110,000-sq.-ft. store have been totally reimagined by legendary architect Peter Marino and include lighter woods, gold accents and works from famed artists. With digital screens immersing customers in iconic New York City, the revamped Tiffany’s is more modern. It’s also more opulent. (610 Fifth Ave.) •Timberland: Among the highlights of the brand’s new Soho flagship is The Shed, a customization space where customers who sign up for Timberland’s new membership program can have their shoes or clothing personalized. Members can also visit the store for boot cleaning and repair services. (550 Broadway) •Wegmans: The beloved supermarket chain made its Manhattan debut with an 87,500-sq.-ft. store located in a historic building whose former occupants included Kmart. The twolevel store boasts an extensive array of prepared food offerings. A Japanesestyle fish market features fish flown in several times a week from a famed fish market in Tokyo. An on-site dining room — complete with a sushi bar and champagne and oyster bar — will open next year. (770 Broadway)

CHANNELS > COMMERCE > CUSTOMERS

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BRAND MANAGEMENT Vice President & Group Publisher, SPECS Chairman Gary Esposito gesposito@ensembleiq.com

EDITORIAL Editor Marianne Wilson mwilson@ensembleiq.com Technology Editor Dan Berthiaume dberthiaume@ensembleiq.com Real Estate Editor Al Urbanski aurbanski@ensembleiq.com Online Editor Jennifer Mosscrop-Setteducato jmosscrop@ensembleiq.com

ADVERTISING SALES & BUSINESS Midwest & South Sales Manager Michael Morrissey mmorrissey@ensembleiq.com East & West Sales Manager Lise Slaviero Groh lgroh@ensembleiq.com Real Estate Sales Manager Al Urbanski aurbanski@ensembleiq.com

EVENTS/MARKETING Program Director Deena AmatoMcCoy damccoy@ensembleiq.com Event Director Melissa Murphy mmurphy@ensembleiq.com Event Coordinator Rita Ruzalski rruzalski@ensembleiq.com Marketing & Event Administration Coordinator Farida Batuta fbatuta@ensembleiq.com

ART/PRODUCTION Art Director Michael Escobedo mescobedo@ensembleiq.com Production Manager Patricia Wisser pwisser@ensembleiq.com

SUBSCRIPTION SERVICES List Rental mbriganti@anteriad.com Subscription Questions contact@chainstoreage.com

CORPORATE OFFICERS Chief Executive Officer Jennifer Litterick Chief Financial Officer Jane Volland Chief People Officer Ann Jadown Chief Strategy Officer Joe Territo Chief Operating Officer Derek Estey

Marianne Wilson mwilson@chainstoreage.com

NOVEMBER/DECEMBER 2023

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“SPECS needs to be on your ‘must attend’ list this Spring! I always enjoy the inspirational keynote speakers, the many networking/reconnecting opportunities with peers, and the ability to garner expert industry knowledge on a myriad of relevant topical retail challenges and opportunities.”

Marilyn Nolte Senior Director, Retail Program Management

“SPECS is a welcoming forum that fosters collaboration among retailers and suppliers who are focused on exchanging ideas. These connections have enriched my professional network and opened doors to new opportunities. The cooperative atmosphere fosters discussion around best practices and the latest trends essential for staying ahead in our dynamic industry.”

“I look forward to attending SPECS every year because it is a great opportunity to catch up with trusted colleagues and forge new relationships. The Exhibit Hall, Face2Face Networking Exchange and educational presentations always bring something new that sparks my interest.”

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REGULATIONS

Retailers Face New Legal Requirements in California Employment regulations and privacy laws are among the issues in flux in the state that often serves as a trendsetter for the rest of the nation: California. Some of California’s top legal experts were among those who discussed new employment regulations, privacy laws and litigation threats that will impact retail businesses in 2024 and beyond at the inaugural CA Retail Law Summit in Irvine, Calif. The event, hosted by the National Retail Federation and the California Retailers Association, was designed to help retailers navigate the complexities and nuances of California laws. Here is a recap by Ceara Flake, VP and deputy general counsel, NRF, of some of the discussions at the summit. Wage Laws California labor and employment legal expert Julie Dunne and other leaders from DLA Piper led a panel discussion on California’s unique labor rules regarding scheduling, vacation pay, paid sick leave and timekeeping. The speakers noted that wage and hour laws continue to shift for businesses located in California or with employees who work in California, resulting in fresh challenges for retailers. One such challenge is the City of Los Angeles’ Fair Work Week Ordinance, requiring large retail employers in Los Angeles to provide employees with a “good faith estimate” of their future work schedules, at least 10 hours of rest between shifts and at least 14 days’ advance notice of their work schedules. Since the regulation’s 180-day grace period expired and enforcement began Sept. 28, 2023, Dunn urged retailers to be aware that each day a violation exists constitutes a separate violation and administrative fees increase by 50% if another offense occurs within three years. On another issue, Dunn noted that employers are currently required to provide

at least 24 hours (three days) of paid sick leave each year to most workers, including full-time, part-time and temporary workers who meet certain qualifications. In addition, the California legislature recently passed a bill to expand paid sick leave to 40 hours (five days) per year. If signed by Gov. Gavin Newsom, the law will become effective Jan. 1, 2024. Pricing Litigation and Environmental Regulation More than half of pricing class action lawsuits have been in California, according to Stephanie Sheridan and Meegan Brooks, retail litigation counsel from the retail and e-commerce group of Benesch. Of the 262 pricing lawsuits that have been filed since 2014, 170 were in California, according to Brooks. Brooks and Sheridan alerted retailers to recent pricing targets including smaller companies, startups, companies that sell high-value goods (e.g., furniture, flooring and computers), and companies that have been sued previously. When it comes to environmental regulation, “the main greenwashing lawsuits have been related to PFAS, a so-called forever chemical that pops up everywhere, from rain jackets to hamburger wrappers,” Brooks said. She discussed California bans on PFAS in textiles, cosmetics and juvenile products, in addition to a California bill in the pipeline that would restrict the use of PFAS in cleaning products and artificial turf. Sheridan advised retailers to work closely with vendors to ensure PFAS and California Proposition 65 certifications are obtained and updated. Privacy Legislation California is introducing new privacy legislation and regulation, including the California Age-Appropriate Design Code Act and SB 362, known as the Delete Act. The Delete Act would require the

California Privacy Protection Agency — the state’s new privacy office — to establish a website where consumers can verify their identity and make a single request to order a blanket deletion of personal data, including information on shopping preferences. If utilized on a large scale, David Keating of Alston & Bird said the Delete Act could impact the ability to reach consumers with relevant information to personalize their shopping experience. Although customers generally value personalization and relevant advertising, the act could accelerate the need for all types of companies, including retailers, to have the capability to delete specific data relating to individuals. Keating and the panel of privacy experts also discussed new developments regarding the California Age-Appropriate Design Code Act, set to take effect on July 1, 2024. In September, a federal court judge granted a preliminary injunction blocking enforcement of the CAADCA on grounds that many of the provisions were both overbroad and underinclusive, and could lead to the collection of more information about young people, contrary to the CAADCA’s purpose of limiting personal information collected about minors. The injunction is likely to be appealed.

Retail in-house attorneys, risk and compliance officers, HR and other providers who counsel their organizations on law-related matters are encouraged to attend the free, virtual NRF Retail Law Summit, March 5 -7, 2024 (nrf.com/events/ nrf-retail-law-summit).

NOVEMBER/DECEMBER 2023

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COVER STORY

Expansion Heats Up in

‘The Big Smile’

New retail construction continues to bloom across Sun Belt region By Debra Hazel

t this point, it’s a surprise that the continental United States isn’t tipping over, as the population continues to move southward in search of affordable housing, warmer weather and, in many cases, lower taxes. And where the people go — especially high-income ones — retailers follow. That’s why — during a time when new retail construction is at a 20-year low — most new builds are taking place in what retail real estate developers refer to as “The Big Smile,” a geographic grin that begins in the Carolinas, extends down to Miami, and stretches across the Sun Belt through Dallas-Fort Worth and Phoenix before curving upward through SoCal and the Inland Empire. Nearly half of year-to-date retail construction completions in the first three quarters of 2023 were topped off in Texas and Florida. (See box on p.10) Residential brokerage Redfin reported that the top 10 U.S. metropolitan areas for relocations are all in the Smile states: Phoenix; Las Vegas; Miami; Tampa; Orlando, North PortSarasota and Cape Coral in Florida; Dallas; Sacramento, and Houston. And retail is counting those rooftops. “Folks from the East Coast are relocating out here because of low taxes and a better quality of life, in terms of infrastructure,” observed David J. Larcher, president and CEO of Phoenix-based Vestar. “As a result, housing growth has been extremely strong for all these years — and in our world of retail, obviously we follow the rooftops.”

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A major reason for Kimco Realty’s 2021 $3.9 billion acquisition of Weingarten Realty was to increase its penetration in the region. “We increased our Texas exposure by two-thirds,” said David Jamieson, chief operating officer of Kimco Realty Corp. “Florida was a complement to a high concentration already. Now, as we look at our leasing statistics and productivity, the acquisition is playing out in the way we’ve assumed. Almost 60% of our new deals have come from southern states.” Scottsdale, Ariz., too, has seen a surge in new residents, and Scottsdale Fashion Square is continuing to expand to accommodate them. “We’re in a market that has attracted so many new residents, and Scottsdale is the luxury leader, catering to domestic as well as international tourists, which is a new segment,” said Kimberly Choukalas, senior VP of leasing for Fashion Square owner Macerich. The latest phase in the center’s years-long redevelopment calls for the south wing to be redesigned with a valet arrival area, exterior-facing retail, and multiple new restaurants. The new wing, which will feature Hermes, is a continuation of the luxury expansion that opened in 2018 and brought Dior, Balenciaga, Versace and Nobu to the market. “We’re enlarging the valet area to create a new luxury arrivals area, brightening it and adding a new water feature,” Choukalas said. “On the interior, we’re focused on extending the look and feel of the luxury wing, with a better sight line of the retail.”

NOVEMBER/DECEMBER 2023

COVER STORY

A seven-acre parcel north of the center will include luxury multifamily residential, office space, and the first non-gaming hotel from Caesars Entertainment, opening in February 2024. And four acres are still available for redevelopment. In other areas of Phoenix, Macerich has opened Arizona’s first Scheels store at Chandler Fashion Center and signed Round 1 Bowling at Arrowhead Town Center. In California, Din Tai Fung and the Arte Museum are coming to Santa Monica Place, and Lifetime Fitness and Industrious (a flexible work space) will join Broadway Plaza in Walnut Creek. In Texas, a new flagship Dillard’s will join South Plains Mall. Many have noted that the region also is the most vulnerable to natural disasters due to climate change, from drought in the West to hurricanes in the Gulf states and the Southeast. But that threat is grossly overstated, the developers said. “The Sunbelt exposure has less risk,” Jamieson observed. “It really is more nuanced than has been reported.” States such as Florida have already adopted best practices to improve building resiliency, including elevating buildings, improving drainage, and more. In drought-stricken Arizona, the development is actually benefiting the environment, Choukalas noted. “We’re taking farmland and making it residential,” she said. “Farming takes five times the water of homes. And we’re mindful about the water usage in all our properties.” “In Arizona, we have heat and the perception of a water issue, but we actually use less water than we did in 1950,” Vestar’s Larcher said. “And we don’t have natural disasters.” Vestar has implemented 27 different sustainability initiatives throughout its portfolio, including harvesting rainwater in all centers to use for landscaping. Another innovation is the use of Cool Pavement, a treatment placed on asphalt in parking lots and streets to better reflect

Where New Builds Are Hot Eight of the Top 10 markets for new retail construction in the first three quarters of 2023 are found in “The Big Smile,” according to CBRE. Houston, Austin, Miami, Orlando, Dallas, Los Angeles, San Antonio, Phoenix, and Fort Worth completed a total of 9 million sq. ft. during the period — a figure that is equal to one-third of CBRE’s rolling 12-month national completions ending in the third quarter of 2023.

Source: CBRE

sunlight and offset nighttime temperatures in the region. The process is being piloted by the Phoenix Street Transportation Department and Office of Sustainability with Arizona State University (ASU). Certainly weather has played a role, but growing suburbanization, in part accelerated by the Covid pandemic, is continuing to boost development. “The market dynamics have shifted dramatically in the postCOVID world. We’re the only product type that has not built new product in the last 15 years,” Larcher noted. “What retailers have learned, what e-commerce retailers have learned, is that you can’t make as much money being a full-online source. It’s a powerful statement that brick and mortar is here to stay.” And with a metro area that’s grown by nearly 1 million people over the last 10 years, new development is needed. Vestar’s new development includes Queen Creek Crossing in suburban Phoenix, anchored by Costco and with Ashley Home and Hobby Lobby to come in 2024. The company is also working on the $125 million Verrado Marketplace in Buckeye, Ariz., which will feature 512,000 sq. ft. of retail, dining and entertainment. “This is a growth area like Queen Creek,” said Jeffrey Axtell, Vestar’s executive VP of development. “New housing and lots of new residents have come in but there is nowhere for them to shop, find entertainment or eat at a restaurant. We’re filling that void in the submarket.” Elsewhere, Vestar is focusing on re-tenanting as leases expire in California and Nevada. In SoCal, too, densification is critical. “In Tustin, for example, we’re adding multifamily to a center to get that whole live— work—play environment,” Axtell said. “Municipalities are embracing it because people want to live and work near the shopping and restaurants. And states like California are now mandating it.” Kimco’s Dania Pointe near Fort Lauderdale, Fla., is a 102-acre mixed-use development with approximately 1 million sq. ft. of retail and restaurants, luxury apartments, hotels, Class A offices, and public event space. The complex is taking advantage of retailers’ shifts to open air centers, with recent openings including J. Crew, Sephora, Puttshack, Pura Vida Miami, Crema Gourmet Espresso Bar, and Woof Gang Bakery, Jamieson observed. Another residential tower is opening shortly, and Spirit Airlines will establish its corporate headquarters at the complex. “It’s building that momentum on Interstate 95, compounded by the growth of the state,” Jamieson added. At some point, does all this growth stop? It doesn’t look likely. “Phoenix has ample land opportunity,” Choukalas said. “And we are perfectly poised to accommodate each subdivision. We can cater to each growing trade area.” NOVEMBER/DECEMBER 2023

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STORE SPACES

Clicks to Bricks

More DTC brands embrace physical retail By Marianne Wilson It’s not your imagination — more and more direct-to-consumer brands are expanding in brick-and-mortar. The move, which Warby Parker is credited with pioneering, shows no signs of stopping. If anything, it is gaining momentum as an array of diverse DTC brands set up shop in the nation’s shopping malls. Here are two recent converts to the space. Figs A brand that started by selling its goods out of a parked car is expanding in brick-and-mortar. Direct-to-consumer health care apparel company Figs recently opened its firstever retail store, at Century City Mall in Los Angeles, one of its largest markets and home base. A second location, in Rittenhouse Square, Philadelphia, is set to open in the first half of next year. Known for its stylish and comfortable medical wear and related items, Figs launched in 2013, with its two founders selling their goods to nurses, doctors and other health care workers out of their car in hospital parking lots before ramping up online. It made history in 2021 when it became the first company to go public whose founders are all women. The brand generated more than $500 million in net revenues in 2022. The new Figs store, described as a

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“community hub,” aims to create deeper connections among the Figs community and shine a spotlight on health care professionals, who for the first time will have access to a premium store designed specifically for them, the company said. It will also host events to celebrate healthcare professionals, provide programming on important issues that impact them and create opportunities to network and share their stories. Figs said it intends to take a disciplined approach with its retail strategy, choosing markets with a high density of health care professionals. Its upcoming Philadelphia location is located within two miles of five healthcare institutions. True Classic A direct-to-consumer menswear brand founded in 2009, is now focusing on brick-and-mortar mortar expansion. True Classic is on track to open three locations before the end of the year. The first is now open, at the The Galleria in Houston. In mid-November, the brand will open at Town Center, Boca Raton, Fla., followed by Shops at Stonebriar in Frisco, Tex. In 2022, True Classic partnered with third-party platform Leap to open five pop-ups in Los Angeles, San Jose, Chicago and Washington, D.C. While the pop-ups will remain open, the company said it is taking its physical retail operations in house, enabling it to outfit its stores with an “elevated, approachable branding that resonates with their consumer.” “While we had great success with our current stores through our strategic partner, having True Classic owned and operated locations will allow us to be fully immersed and connected with our consumer.” said Brent Paulsen, VP, head of retail, who most recently served as

director, head of retail, at Untuckit. The new stores will stock True Classic’s full range of product, including core, active and lifestyle categories. The spaces will offer a digital-first experience and feature large screen technology designed to fully introduce and engage customers with the brand. The technology will also allow the brand to quickly update campaign and marketing visuals. Known for its savvy approach to social media and digital marketing, True Classic said it will showcase its comedic content throughout the physical space in the same way a shopper would experience it on social media. “We already have an extremely loyal shopper in the DTC space,” said True Classic co-founder and CEO Ryan Barlett. “Once they purchase True Classic, more often than not, the customer returns with a repeat purchase and also buys into other categories. We are looking for those same offerings and results in a brick-and-mortar space and there is an extremely high amount of potential in these store openings as we are going to the markets where our loyal customers live.” True Classic, which offers offers inclusive sizing ranging from S to 3XL, is rooted in philanthropy. Each month, the company donates over 40,000 T-shirts to homeless vets, shelters, and schools alongside a partnership with Tiny House Project. The company also helps fulfill teachers’ Amazon wish lists for back to school, provides clothes in natural disaster situations and donates time and resources for humanitarian crises throughout the U.S.

NOVEMBER/DECEMBER 2023

STORE SPACES Q & A

HD Facilities Management Trends & Challenges Chain Store Age recently spoke with Matthew Perry, VP of client development at Legacy Group, about retail facilities management and multi-site rollout programs. By Marianne Wilson Matthew Perry is VP of client development at Legacy Group.

What trends are you seeing in retail facilities management? The biggest trends we are seeing revolve around our customers gaining more control over and increasing predictability of their spends. They are doing this through a wide range of preventative maintenance programs, sustainability efforts and building automation systems. We are also seeing a desire to identify scalable solutions enabling retailers to easily increase or decrease resources as needed with as little impact to their business as possible.

Legacy Group has a long history of successfully delivering on-demand facilities maintenance services nationwide. Our maintenance-driven projects team is a huge differentiator as we have done an excellent job of marrying the expansive, industry-leading network of trade resources with in-house and on-site project management experts. This combination enables us to move quickly, nimbly, and affordably through our customer’s most challenging rollout programs.

What is the biggest challenge facing retailers in managing rollout programs? We see it as identifying resources that can reach all sites in often aggressive schedules with consistent service and also offer customization and flexibility given that retailers operate in a constantly evolving environment. Also, the resources should provide communication that makes them feel like they are on every site and enables them to be able to report on any site, phase, etc. at a moment’s notice.

What type of approach does Legacy take in assisting retailers with multi-site rollout programs? Legacy’s approach is all about trade specialists and dedicated field resources, which are our most valued assets. We are continuously nurturing our current vendor relationships and identifying new strategic relationships. Having a robust and reliable network enables us to align the most appropriate crews with each rollout’s requirements, whether it be related to a specific trade, communication cadence, budget or schedule.

Project management covers a wide variety of services. Which ones give retailers the most headaches? Maintenance-driven programs seem to be the area that we are seeing the most activity and it appears to be a big challenge for our retail partners as they are often driven by an urgent need, which doesn’t allow for a great deal of planning or strategy.

What about repair services? Is emergency assistance available? We take the same approach in sourcing our repair resources, which gives us leverage in any given region. This enables us to offer highly responsive and effective emergency services on all trades, whether they be required after hours, weekend, holidays, or even natural disasters.

Tell us a little about Legacy Group and how it stands apart from other companies?

Has how technology impacted the services Legacy provides customers? We all are aware — and bombarded

— with vast amounts of new technology that promises to make all our jobs easier. The list of options is endless and literally grows every day. Legacy embraces technology and uses it for measuring our performance, sharing information with our customers and field partners in real time, monitoring workflow, expediting closeouts and timely accounting. But just as important, Legacy Group, in keeping with our name, has not forgotten and in fact embraces a “hands on” and “personal” approach to serving our customers coupled with cutting-edge technology. We believe that “picking up the phone” is a tool more powerful than many proposed automations. We also believe that the right experts directly sharing information as it happens, asking the right questions when needed and consistently connecting with our customers, and training our affiliates is still some of the most dynamic and impactful tools in our toolbox. What’s the biggest mistake retailers in FM? Spreading work across too many vendorsa can be a detriment to any retail facilities program. While we absolutely understand the desire to have choices, vendors are most successful when they have enough volume to build a dedicated team and assign the correct assets to focus on how to best serve the customer’s contractual needs. Through ongoing engagement, lessons are learned, best practices are established and programs that both the vendor and the retailer can be proud of are built.

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STORE SPACES

On the Fast Track

Woof Gang Bakery & Grooming expanding in new and existing markets By Zachary Russell With pet industry sales expected to top $275 billion by 2030, pet-care retailers are growing their footprints. One of the fastest-growing brands is Woof Gang Bakery & Grooming, which has 190 stores and more than 110 locations under development. With an average store of 1,500 sq. ft., Woof Gang offers luxury grooming and spa services, gourmet treats and premium pet food and nutrition options. During the past year, the company expanded from 17 states to 26, including Arizona, California, Indiana, Illinois, Idaho and Washington. It will venture into two new states in 2024 —Kentucky and Louisiana — while also expanding in existing markets such as South Florida, where it’s on track to open eight additional locations. Woof Gang is growing north of the border as well. Three stores are under development in the Greater Toronto Area, with one slated to open in Oakville, Ontario, in December. In an interview with Chain Store Age, Ricardo Azevedo, CEO of Woof Gang Bakery & Grooming, outlined the company’s growth and how it differentiates itself by creating a unique experience for pets and their parents. What is Woof Gang’s overall strategy with regard to growth, and how does the brand differ from other pet franchises? Woof Gang’s approach to growth is truly distinctive, driven by our fusion of services and products. Notably, a significant 66% of our focus is on pet grooming, a source of immense pride for us. Our premium grooming services are delivered by expertly trained groomers who provide a top-tier experience. In addition to grooming, we offer a wide array of high-end retail products, ranging

from nutritious pet food to delectable gourmet treats and even specialized healthcare items such as CBD. What truly sets us apart from competitors in the pet franchise industry is our holistic approach, allowing us to cater comprehensively to the diverse needs of pet owners and their beloved companions. Our growth strategy encompasses more than just expansion. It’s about creating pet destinations in local communities, owned by local business owners who are in their store and interact with their customers. Each of our stores is designed to be the neighborhood pet store, spreading love and joy within the pet communities they serve. This distinctive local approach is a key driver of our brand’s flourishing growth and success. What goes into choosing a new location for a new store? Choosing a new location is a critical step in our expansion strategy. We collaborate closely with our franchisees to identify and select the ideal markets for our stores. Our team diligently researches and analyzes available markets to identify pet-loving communities that will benefit from our services. To provide potential franchisees with a comprehensive understanding of their local territory, we offer the option of a Woof Gang Bakery market visit. During these visits, individuals get a firsthand look at our franchise store operations and have the opportunity to engage with current franchisees. This indepth approach helps us ensure that each new location is thoughtfully chosen and tailored to meet the needs of the community it serves. Given high inflation and labor challenges, have there been challenges to Woof Gang’s growth? Like many businesses, we’ve certainly felt

Woof Gang Bakery & Grooming stores average 1,500 sq. ft. and have a neighborhood focus.

the impact of challenges such as inflation and labor constraints. However, our commitment to providing exceptional pet care services and high-quality products have allowed us to navigate these challenges effectively. We continuously evaluate and adapt our business model to ensure we can maintain the high standards we set for ourselves. By working closely with our franchisees and keeping a keen eye on the ever-changing market, we’ve managed to mitigate potential roadblocks and sustain our growth trajectory. How does the experience at Woof Gang differ from other pet-grooming chains? The Woof Gang experience is truly one of a kind. Our brand was born out of the frustration pet owners often feel when faced with the lack of expertise, service and a caring environment at typical big box stores. What sets us apart from other grooming and pet store chains is our commitment to providing a personal, neighborhood pet store feel that genuinely cares for every dog and pet parent who walks through our doors. We prioritize the well-being and happiness of pets, going beyond one-size-fits-all solutions. Our expert groomers take pride in delivering a pampering experience throughout the grooming process, ensuring that pets feel comfortable and loved. Each Woof Gang franchise is locally owned and operated by community members, adding an extra layer of uniqueness. This community-focused approach sets us apart from competitors, and it’s what allows each of our stores to become a hub for spreading love and joy within the pet communities they serve. At Woof Gang, love and joy are the cornerstone of every store’s presence in the pet community.

NOVEMBER/DECEMBER 2023

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Statement of Ownership, Management, and Circulation 1 Publication Title: Chain Store Age 2 Publication Number: 0054-4100 3 Filing Date: 10/1/2023 4 Issue Frequency: Bi-monthly 5 Number of Issues Published Annually: 6 6 Annual Subscription Price: $80 7 Complete Mailing Address of Known Office of Publication: 8550 W Bryn Mawr Suite 225, Chicago, IL. 60631-3731 Julie Ball 513-885-6192 8 Complete Mailing Address of Headquarters or General Business Office of Publisher: See No. 7 9 Full Names and Complete Mailing Addresses of Publisher, Editor, and Managing Editor: (Publisher) Gary Esposito, Publisher, see No. 7; (Editor) Marianne Wilson, Editor in Chief, see No. 7 10 Owner (Full Name and Complete Mailing Address): EnsembleIQ, see No. 7; 11 Known Bondholders, Mortgagees, and Other Security Holders Owning or Holding 1 Percent or More of Total Amount of Bonds, Mortgages, or Other Securities: None

12 Tax Status (The Purpose, Function, and Nonprofit Status of this Organization and the Exempt Status for Federal Income Tax Purposes): Has Not Changed During Preceding 12 Months 13 Publication Name: Chain Store Age 14 Issue Date for Circulation Data Below: Sept/Oct 2023 15 See Chart Below 16 See Chart Below 17 Publication of Statement of Ownership for a Requester Publication is required and will be printed in the November/December 2023 issue of this publication 18 Signature and Title of Editor, Publisher, Business Manager, or Owner: I certify that all information furnished on this form is true and complete. I understand that anyone who furnishes false or misleading information on this form or who omits material or information requested on the form may be subject to criminal sanctions (including fines and imprisonment) and/or civil sanctions (including civil penalties): Julie Ball, Manager. Sept.28, 2023

Sections 15 and 16

Average No. No. Copies of Copies Each SIngle Issue Issue during Published Previous 12 Nearest to Months Filing Date

15 Extent and Nature of Circulation a Total Number of Copies (Net Press Run) b Legitimate Paid and/or Requested Distribution (1) Outside County Paid/Requested Mail Subscriptions (2) In-County Paid/Requested Mail Subscriptions (3) Sales Through Dealers and Carriers, Street Vendors, Counter Sales, and Other Paid or Requested Distribution Outside USPS (4) Requested Copies Distributed by Other Mail Classes Through the USPS (e.g., First-Class Mail) c Total Paid and/or Requested Circulation d Non-Requested Distribution (By Mail & Outside the Mail) (1) Outside County Non-Requested Copies (2) In-County Non-Requested Copies (3) Non-Requested Copies Distributed Through the USPS by Other Classes of Mail (4) Non-Requested Copies Distributed Outside the Mail e Total Non-Requested Distribution f Total Distribution g Copies Not Distributed h Total i Percent Paid and/or Requested Circulation

19,517

19,022

12,523

11,571

0 12,523

0 11,571

6,548 0

7,444 0

445 6,993 19,516 0 19,516 64.2%

0 7,444 19,015 0 19,015 60.9%

12,523

11.571

19,516

19,015

64.2%

60.9%

16 Electronic Copy Circulation a Requested and Paid Electronic Copies b Total Requested and Paid Print Copies (Line 15c) + Requested/Paid Electronic Copies (Line 16a) c Total Requested Copy Distribution (Line 15f) + Requested/Paid Electronic Copies (Line 16a) d Percent Paid and/or Requested Circulation (Both Print & Electronic Copies) (16b divided by 16c x 100)

I certify that 50% of all my distributed copies (electronic & print) are legitimate requests or paid copies.

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STORE SPACES

SPECS 2024: The countdown is on!

Annual show puts spotlight on store development, facilities management By Deena M. Amato-McCoy Chain Store Age’s annual SPECS conference is gearing up for a milestone event. Decision-makers from the nation’s top retailers and suppliers involved in the planning, design, construction and maintenance of stores, restaurants and non-traditional concepts will gather at the Gaylord Texan in Grapevine, Texas, March 10-12, 2024, for the 60th annual SPECS Show — the premier event for the store development industry.

Session Highlights Here’s a sampling of some of the educational sessions on the SPECS 2024 program: • Designing Stores to Deter Theft • Solving the Labor Shortage in Store Construction and Maintenance • Women in Store Development: Filling the Void • ADA: Need-to-Know Updates for Retailers • Navigating the Permitting Process • Top Retail Center Experiences • Real Estate Trends: Strategizing Store Growth in Today’s Markets • Reinventing Vacant Spaces

The SPECS retail community is comprised of decision-makers from across all sectors of the retail industry, from discounters, specialty stores and supermarkets to convenience stores, homeimprovement centers and more. Restaurants and specialty concepts, such as financial and health care, as well as non-traditional retail, including the financial sector, will also be represented. The event offers a robust program designed for retailers to learn, share ideas, develop business partnerships and find innovative solutions to successfully design, build and maintain stores in an evolving retail landscape. “Many consumers are balancing economic conditions and are becoming more selective with regard to the brands they engage with and the store experiences they demand,” said Gary Esposito, SPECS chairman, VP & group publisher, Chain Store Age. “SPECS provides the critical solutions and services needed to compete in this ever-changing landscape,” he added. “Whether you’re a retailer, a supplier, a contractor or an architect, the goal is to learn, share ideas and develop lasting business partnerships.” The annual event combines dynamic

keynote addresses, insightful educational content and plenty of networking opportunities. In the SPECS Solution Center exhibit hall, attendees will find a diverse array of products and services designed to provide a better in-store customer experience and maximize operational efficiencies. SPECS provides attendees with the insights needed to stay at the forefront of retail, with 25 targeted sessions across six laser-focused tracks. Developed with direct input and guidance from retailers, the sessions will highlight the latest trends, operations and innovations transforming the design, construction and maintenance of physical stores and restaurants. The sessions will tackle some of the industry’s biggest challenges, from retail theft to the skilled labor shortage. In addition, the event will be the backdrop for CSA’s Breakout Retailer Awards presentation, which recognizes retail, restaurant and non-traditional specialty companies that are investing in brick-andmortar growth. Executives from the winning brands will share insights into their companies during a panel discussion. SPECS will also offer attendees three days of business partnering, collaboration and networking opportunities, including one-on-one meetings at the Information Exchange. Attendees can foster important connections at sessions, meal functions and in the exhibit hall. Want to take advantage of all that Chain Store Age’s annual SPECS event has to offer? Register now for SPECS 2024 at specsshow.com/2024/begin or scan the QR code.

NOVEMBER/DECEMBER 2023

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STORE SPACES

Amazon Fresh Achieves Climate First By Marianne Wilson A high-tech Amazon Fresh grocery store in North Seattle is the world’s first grocery store to receive Zero Carbon Certification from the International Living Future Institute (ILFI), a global non-profit advocating sustainable buildings and more. The store has saved over 100 tons of CO2e (carbon dioxide equivalent) compared to an industry standard grocery store since it opened. Amazon designed the 35,000-sq.-ft. space with sustainability in mind. It boasts an array of climate-forward features, including an all-electric kitchen and hot water heating systems, electric-vehicle charging for customers and low-carbon concrete floors. Additional doors on the refrigeration cases help reduce energy. In addition, the store uses a CO2-based refrigeration system, which reduces

greenhouse gas emissions by 38 metric tons per year compared to a conventional system. And all of the store’s power comes from 100% renewable electricity sourced from Amazon’s renewable energy projects. The sustainable store is in keeping with Amazon’s efforts to become carbon neutral by 2040. “At Amazon, we’re building a best-inclass grocery shopping experience, and

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part of that is bringing customers more sustainable options across our stores,” stated Tony Hoggett, senior VP of Amazon’s Worldwide Grocery Stores. The ILFI’s Zero Carbon Certification is a global standard mandating combustion-free systems, reductions in operational and embodied carbon impacts of a building, and measured achievement through demonstrated data. To achieve certification, which is a standard for validating building decarbonization efforts, store operations at Amazon Fresh were reviewed for 12 consecutive months. In addition to the Seattle Amazon Fresh store, three Los Angeles-area Amazon Go locations, an Amazon same-day site in Sacramento, Calif., and the Climate Pledge Arena in Seattle are on track to receive Zero Carbon Certification from ILFI.

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STORE SPACES

Dollar Tree Reduces Energy Needs Via Community Solar Project By Dan Berthiaume Dollar Tree is participating in a community solar portfolio that will offset a portion of its stores’ energy needs. Community solar is the fastest-growing sector within the solar industry. It is defined by the U.S. Department of Energy as any solar project or purchasing program, within a geographic area, in which the benefits flow to multiple customers such as individuals, businesses, nonprofits and other groups. Dollar Tree teamed up with clean energy solutions provider DSD Renewables to deploy a community solar portfolio at select Dollar Tree and Family Dollar locations in New York. The seven projects

will help the discount retailer meet its operational energy demands while also supporting solar programs for local communities and small businesses. Dollar Tree will serve as an anchor tenant subscriber — offtaking a majority of the energy generated— for the seven project, 41.75 megawatts (MW) community solar portfolio, to be built by DSD in East Syracuse, Cortland, Remsen, Medina, Silver Creek and Brier Hill (New York). The retailer estimates the portfolio will generate 55.77 GWh of clean energy annually — the equivalent of avoiding 24,127 metric tons of carbon dioxide

each year. Dollar Tree will offtake 16.67 MW of the larger portfolio, offsetting 29% of the energy needs across 184 Dollar Tree and Family Dollar stores in New York. NRG Energy assisted in issuing a request for proposals for the project. “Serving as an anchor subscriber will power our facilities with renewable energy and help us toward our future net zero commitment,” said said Dollar Tree chief sustainability officer Jennifer Silberman. “Simultaneously, it allows us to deliver real benefits to the communities we serve, increasing access to clean, affordable energy for residents and local businesses.”

NOVEMBER/DECEMBER 2023

CHAINSTOREAGE.COM

TRENDING STORES Sustainable apparel brand Outerknown, co-founded by surfing legend Kelly Slater, is expanding its fledgling brick-and-mortar footprint with the opening of three stores in California and one in Washington, D.C. Designed in partnership with Starch Creative, the company’s retail spaces reflect the brand’s focus on sustainability with features such as Stelapop hangers and fixtures made from S.E.A. denim scraps and Pasqual Arnella sustainable paper paste mannequins. Each location will offer a customization station where customers will be able to add embroidery to personalize their products. … A brand that started out as an Instagram account has opened its first-ever physical store — complete with fashions and holistic treatments. Sporty & Rich opened a two-story 3,600-sq.-ft. flagship in Manhattan’s SoHo neighborhood. In addition to the brand’s activewear, loungewear and other lifestyle products, the store boasts two treatment rooms that offer a variety of wellness services, as well as a café. … Macy’s is accelerating the expansion of its small format retail concept, with plans to open up to 30 sites through fall 2025. Located in off-mall shopping centers, the stores offer a curated and localized mix of products and have a more open and modern look than a traditional mall-based

Outerknown

Macy’s. They also collaborate with local businesses to create pop-ups and events catering to the local community. … Amazon Style’s two locations have gone dark. The hightech stores, which opened in 2022 and marked Amazon’s entry into brick-and-mortar fashion retailing , were located at The Americana at Brand, Glendale. Calif., and Easton Town Center, Columbus, Ohio. … Banana Republic opened a slimmed-down flagship in its San Francisco hometown, a 3, 500-sq.-ft. location in the downtown Union Square district. The opening comes as many retailers, have closed stores in the downtown area amid declining customer traffic and reports of crime.

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STORE SPACES

Coming Attractions WHP Global is partnering with Go! Retail Group to roll out Toys“R”Us flagships — as many as 24— across the U.S., with the first expected to open for holiday 2024. The stores will serve as “epicenters of immersive fun, providing customers with a destination to explore and discover the hottest toys,” said WHP, which acquired the brand in 2021. Toys“R”Us is also entering the travel industry with a new retail experience designed for airports and cruise ships. … Netflix plans to open physical stores — dubbed Netflix House — with the first two set to debut in the U.S. in 2025. The stores will feature merchandise based on

the streaming giant’s most popular shows along with live events and restaurants serving items from the company’s food-based reality shows. … Scheels, the sporting goods retailer known for its mega-sized stores, will open a location in fall 2026 in the Austin suburb of Cedar Park, Texas. The 240,000-sq.-ft. store will serve as an anchor in the new CedarView development, along with Nebraska Furniture Mart, which will open a 1.2 million-sq.-ft. store and warehouse there (also in 2026). Similar to Scheels’ existing stores, the Texas site will feature plenty of familyfriendly attractions, including a 65-ft. Ferris wheel, a 16,000-gal. saltwater

aquarium, a wildlife mountain, interactive arcade games and a café. … Kim Kardashian’s red-hot Skims shapewear brand will open flagships next year in Los Angeles and New York, along with about five to eight stores in smaller cities. The brand is valued at about $4 billion.

NOVEMBER/DECEMBER 2023

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NEW YORK

SHOW SCOOP

STEPHANIE WEBSTER on current challenges in retail expansion

JOE CORADINO on the new mall consumer

STEPHEN LEBOVITZ on the mall’s new life

WHITNEY LIVINGSTON on retail’s fast-changing environment

JOSH POAG on doing deals in a challenging market

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NOVEMBER/DECEMBER 2023

LEADERS

STEPHANIE WEBSTER

on current challenges in retail expansion

tephanie Webster packs more than 20 years of wideranging experience behind her title of SVP and director of development at Cullinan Properties. She was a construction company project manager before joining the East Peoria-based developer in 2003 and worked her way up by maintaining close contact with tenants. Chain Store Age asked Stephanie to tell us what challenges retailers are having hitting their expansion goals during a period of record-low new construction.

Vacant retail space is at a 20-year low. Have construction costs slowed you down?

Our experiences extends as far north as the Upper Peninsula of Michigan and south to Florida. Each area presents its own specific opportunities. We engage in a relentless pursuit to achieve the best values and have learned to be creative with material selections. We also are leveraging our experience in renovating and reusing existing space to save time and lower the costs of shell construction.

What kinds of price rises or non-availability in labor and materials have you had to deal with? We’re fortunate to have great relationships with our contractor partners and their trade partners. As much as we can, we try to work with local resources and suppliers. When faced with long lead times, we order materials far in advance.

Are municipalities acting differently in issuing permits and approving entitlements? During this difficult period, maintaining consistent and open communication with local government officials is essential.

Municipalities want to see projects move forward, too, of course. They’re crucial to their tax bases. Our experience is that they are willing to review permits in stages—individually assessing site, foundation, and shell, for instance—to allow projects to move forward.

National brands with stated expansion goals keep expanding, despite the cost and lack of availability, isn’t that true?

Yes, national brands do keep expanding for various reasons. They’re looking to expand their geographic presence or increase store counts or try new formats. We have been working with several of them during this period of low availability. Deal terms are ranging from tenant construction with landlord participation to turnkey deals. Retailers have a continued need for more space, and we could not be more excited to have one of the only super-regional projects under construction right now—RockRun Collection in Metro Chicago.

What advice would you give to retailers who are having difficulties meeting their expansion goals?

Call Cullinan Properties! While our occupancy rate is very high, we still have opportunities within our portfolio and a 310-acre project under construction—RockRun—right now. We have seen a range of opportunities for retailers to expand in markets nationwide and our experience tells us that making bold moves when others are paralyzed will often result in success.

Rock Run Collection

Location: Will County/Metro Chicago, IL Size: 310 acres Owner/Operator: Cullinan Properties Key Tenants: Hollywood Casino A 310-acre super-regional development with unobstructed highway visibility and more than 1 million sq. ft. of synergistic space for retail, restaurants, entertainment, hospitality, office, healthcare, and multifamily residential, RockRun Collection is situated at I-55 and I-80 in desirable Will County, Illinois. With 230,000 vehicles projected to pass daily, RockRun Collection has super-regional access from Central Illinois, Iowa, and Indiana markets with a metro reach into Chicago. It will also serve and energize the local community. RockRun Collection will be a highly curated experience where life 22

and living meet. A new interchange that will allow direct access to the project from I-55 is under construction. NOVEMBER/DECEMBER 2023

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LEADERS

JOE CORADINO

on the new mall consumer

ell before the onset of the pandemic, PREIT and its CEO, Joseph Coradino, took a long, hard look at its portfolio of super-regional malls, replaced department store anchors, and began divesting properties that failed to achieve minimum sales levels. We asked Joe to share with us a few of the things he’s learned about shoppers during the first 20 years of the 21st Century.

Demographically, how are core mall shoppers different than they were 20 years ago?

Mall shoppers today are much more technologically savvy than they were two decades ago. Today, we place a significant focus on millennials and Gen Zers, who often value experiences over goods. The technological revolution we have seen in recent years has given rise to shoppers who expect a seamless integration between online and in-store experiences. They conduct due diligence ahead of a shopping trip and are often more purposeful in their visits. We’re diversifying our tenant mix to give these shoppers more reasons for shoppers to visit our properties.

Have remote work routines influenced changes in your tenant lineups?

Recognizing the shift in work patterns, we’ve tailored our offerings to cater to the flexible work arrangements we are seeing. As the suburbanization trend has unfolded, we have focused on ensuring that our malls offer variety for our communities that include expanded dining, leisure, and wellness options. If we give people more of what they need at our properties, we can take advantage of the increased flexibility in their schedules to drive traffic during traditional off-peak hours.

What do new consumers look for in malls that they wouldn’t have found there 10 years ago?

Today’s consumers look for experiences that extend beyond traditional retail. They’re looking for entertainment options, competitive social experiences like pickleball and golf simulators, experiential dining—and even new fitness and wellness options. Our vision is to create all-in-one community hubs, which in some cases include hotels and apartments as well.

The traditional wheel-and-spoke composition of the traditional mall has lost its luster. Has your leasing team created a new template for the new consumer?

PREIT was well ahead of the curve on the department store replacement front as this outdated model became crystal clear to us. As such, over a five-year period, we replaced 20 irrelevant anchors with more than 40 new tenants spanning a variety of uses. We attribute our success in becoming the top mall in smaller markets to this proactive strategy.

Lots of mall owners have dropped the word “mall” from their properties’ titles. PREIT hasn’t. Why not?

We believe there is more value in operators redefining the word than there is trying to pretend it doesn’t exist. The definition today is a central gathering place for shopping, entertainment, convenience, and community engagement. While the concept of the mall is evolving, the foundational idea of a mall as a community hub remains relevant, and we continue to embrace it.

Capital City Mall

Location: Camp Hill, Pa. Size: 615,000 sq. ft. Owner: PREIT Key tenants: Macy’s, Dave & Buster’s Aerie Lovisa, Dick’s Sporting Goods Capital City Mall is the centerpiece of the Harrisburg market’s retail scene, its 100 tenants successfully led by Macy’s—the only fashion department store within 50 miles. PREIT successfully filled an obsolete Sears with a lineup of H&M, DICK’s Sporting Goods, PA Fine have moved Capital City up to a 98.9% occupancy rate. Wine & Liquor, and the Blaze Pizza and Primanti Bros restaurants. More than 220,000 vehicles pass the property daily in First-to-market retailers Aerie, Lovisa, Windsor, and the only Dave & Harrisburg, which was rated the No. 1 best place to live in Buster’s within 75 miles are some of the other popular brands that Pennsylvania by US News & World Report. 24

NOVEMBER/DECEMBER 2023

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where life + commerce meet Building multi-use, best-in-class properties in the heart of our communities.

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LEADERS

WHITNEY LIVINGSTON on retail’s fast-changing environment

ver the past 25 years, Centennial has owned or operated nearly every type of retail real estate, a trait that has benefited the Dallas-based company in boldly meeting the varied demands of today’s consumers. We asked Centennial’s president, Whitney Livingston, to give us a flavor of the new demands being put upon retailers and operators of retail centers.

Are three department stores at a mall one too many?

It really depends on location, target demographic, market conditions, and the specific retailers involved. While the department store landscape has changed drastically, we still have thriving centers in our portfolio with three department stores. In centers where three might be too many, Centennial sees an opportunity to gain control of bullseye real estate that’s ripe for mixed-use development.

Have we also gotten to the point where retail-only centers have become outdated? We believe the future of retail real estate looks completely different. Retail-only centers can be a convenient option for shoppers who are looking to make a targeted purchase. They can also face significant challenges. We believe that placing a strong focus on community, social connection, and diverse uses better positions our assets to remain relevant. In October this year, we opened multi-family residential at three of our properties and are in the pre-development stages at three other centers.

Millennials grew up in malls. Now they are the heads of young families. What is it they want in retail-based centers that their parents didn’t?

Millennials grew up in the Golden Age of malls and I myself am a Millennial. We were the first digitally native generation, and we were also the first to expect a seamless omni-channel experience across all brand platforms. Millennials crave unique experiences. They want activations, events, artwork, pop-ups, unique and unique food-and-beverage options, as well as gyms, nail salons, and dry cleaners. They also expect merchandise to evolve quickly and constantly. Previous generations were more satisfied by purchasing a product with a long shelf life.

And Gen Zers?

What sets Gen Z apart from every other generation is that they’ve never known a world without smart phones or the internet. They are the most tech-savvy generation and are driving 26

metaverse technologies and reshaping the online marketplace in ways that haven’t been seen before. For Gen Z, retail-based centers must ensure a regular drumbeat of engaging, relevant, and sharable content. Centennial’s online product search platform, SHOP NOW, is just one example of how we are actively testing new digital solutions to better meet the needs of the younger generation. Gen Z also likes to shop quickly using frictionless mobile payment apps like Apple Pay or Google Pay.

‘We believe the future of retail real estate looks completely different.’ What do you aim to achieve in re-tenanting malls with restaurant and entertainment brands?

Research shows that 40% of customers will choose a shopping center based on the dining options. F&B is a major traffic driver that significantly increases dwell time. Centennial is in the process of executing several mall-to-mixed-use conversions. We have thousands of multifamily units in progress. We strive to create walkable live-workplay communities where something exciting is always just around the corner. Experience is one thing you can’t buy online.

Last year Centennial acquired Bayer Properties. How’s that marriage working?

Our companies have a common DNA. We have “people-first” corporate cultures and share a similar vision for the future of retail real estate. Centennial’s portfolio primarily consisted of enclosed malls in major markets. And as we know, successfully transforming these assets means reducing the enclosed mall space and adding complementary open-air retail space as well as multi-family and independent living residences, hotels, and offices. Bayer had been an owner, operator, and developer of open-air retail space for almost four decades. It had built a reputation for exceptional merchandising, placemaking, and design. So this deal was a win-win-win. It expanded Centennial’s reach nationally, diversified our portfolio, deepened our relationships with the luxury tenant community, and allowed us to add an incredible roster of seasoned professionals to our team. NOVEMBER/DECEMBER 2023

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LEADERS

STEPHEN LEBOVITZ on the mall’s new life

uch of Stephen Lebovitz’s personal history is the mall’s history. In 1978, his father Charles B. Lebovitz and five associates formed CBL & Associates and built their first mall in Del Rio, Texas. Today it owns and operates 94 properties, more than half of them enclosed malls. We could think of no better person to capsulize the current societal role of the mall than CBL’s CEO.

We see 90%-plus occupancy rates at Class A malls these days. The mall seems quite alive, not dead, yes?

Occupancy has increased, sales have gone up, demand by retailers for new stores is the highest it’s been in quite some time. There are fewer bankruptcies and store closings. New uses are plentiful and the space is limited. We’re seeing really positive trends.

We recently toured the Live! Casino at your Westmoreland Mall in Pennsylvania. Six glass doors in the gaming room open onto a mall concourse. How has the casino changed the mall? It’s been terrific for the mall. We’ve learned a lot. It’s a seamless fit into the property and we have a terrific partner in Cordish. They invested in updating the parking deck and the signage. You walk into that space it’s as nice as any casino in Las Vegas. All at once they bring entertainment, food and beverage, and event space to the property. That brought us new interest from national retailers and new uses that the property’s never seen.

How did the onset of the pandemic change the way you assess the economic vitality of your centers?

We feel like it’s well in the rearview mirror. Retailers are expanding. DTC brands are opening stores, realizing it’s the best way for them to grow sales. Demand for fitness, medical, hotel, and entertainment uses have grown. People crave going out and being social in the wake of the pandemic.

How has the mall’s purpose in the local community evolved? CBL has made strong commitments to reserving space for local retail businesses. We’ve launched several local retail programs, planning business expos for women-owned and minority-owned businesses to introduce them and their concepts to what it takes to operate in a mall environment. If they do well, they stay longer and expand and attract more local retailers to our properties. It makes our malls more unique and attractive in their markets.

CBL’s gotten more attentive to ESG and DEI initiatives in recent years. Can you give us an update?

We’ve recently been certified as a Great Place to Work®. And just last month we were upgraded to a BBB rating by one of the major ESG rating agencies, MSCI, for our efforts in this space. This is critical to the success of our company and it’s good to receive validation for the work we are doing.

Friendly Center

Location: Greensboro, N.C. Size: 1,367,802 sq. ft. Key Tenants: Apple, Pottery Barn, Williams-Sonoma, Anthropologie, Kendra Scott, Madewell, O2 Fitness, lululemon, and Warby Parker Highlights: Friendly Center is a large open-air lifestyle center situated on 126 acres in the heart of Greensboro. Surrounded on three sides by single-family homes, and adjacent to the number one Class A office submarket in the area. Nearby, luxury townhomes and apartments are under construction, which are connected to Friendly Center by a well-manicured walking path. On the site of a former restaurant, construction is underway on a Wake Forest medical office building. 28

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MEET US AT THE MALL. CBL is redefining what the mall means in our communities by combining retail, dining, entertainment, and other mixed uses. See what else is in store. Meet us at the mall.

Over the last five years, CBL has completed more than 45 redevelopment projects totaling more than 2.7 million square feet. We recognize the value of redeveloping anchor locations and adding density in under-utilized parking areas to diversify each property and meet the needs of the community now and into the future.

EVOLVING FOR OUR COMMUNITIES CBL’s properties offer more than just a place to shop. Each mall serves as an active community partner by combining in-demand retail stores, a variety of dining options, entertainment and events, services, health and wellness offerings, and so much more.

RESULTS FOR OUR PARTNERS CBL’s business is built on relationships. Our strong leadership, responsiveness, and a team dedicated to your success make us an ideal business partner. We strive to maximize long-term value for our properties and our partners.

See what else is in store. Meet a CBL representative at ICSC New York 2023 on Level 3, booth 1521 to learn more.

CBL PROPERTIES

LEADERS

JOSH POAG

on getting deals done in a challenging market

aced with ongoing uncertainty, unfavorable macroeconomic fundamentals, and the development headwinds that come with unpredictable and challenging market conditions, it’s not surprising that the pipeline of groundup developments has slowed considerably. That trend has been especially pronounced with lifestyle center projects, where the inherent size and complexity increases the degree of difficulty and creates tighter margins. Today there are few operators in this highly specialized space that can identify and capitalize on promising opportunities for ground-up lifestyle center projects. It helps, of course, if you are a company with a rich pedigree in doing just that: an industry institution that not only developed the nation’s first lifestyle center, but quite literally invented the term. That is Poag Development Group, which continues to leverage its redevelopment expertise. Indeed, Poag’s ground-up bona-fides are in evidence at a bold new project in Omaha. Avenue One is a 200-acre mixed-use property positioned on 192nd Street and West Dodge Road across from the 175-acre Lawrence Youngman Lake and the No.1 birthing hospital in Nebraska, Methodist Women’s Hospital. Avenue One features 600,000-plus sq. ft of retail and entertainment and includes more than 2,000 apartment and town home residences and more than 1 million sq. ft. of office and medical. While Poag’s high-level placemaking expertise, access to resources, and well-established history of lifestyle center development successes are all part of the formula, getting ground-up lifestyle projects off the ground in the current market relies on a few critical elements. The first is a little bit of good fortune—complemented by longstanding industry relationships and a willingness to explore new opportunities. The genesis of Avenue One was an invitation to visit a project in Omaha, a trip that left the Poag team thoroughly impressed with the city’s vibrant energy, economic dynamism, and promising demographics. Its civic landscape, however, was lacking a mixed-use resource with the kind of high-level placemaking that has come to define Poag’s work. The second is a keen understanding of just how much consumer sentiment and priorities have changed with respect to brick-andmortar environments—and the corresponding ability to design and deliver lifestyle projects with spaces, experiences, and tenant rosters that reflect that evolution. For all the popularity of e-commerce, it’s increasingly clear that brick-and-mortar has not, and will not, lose its foundational 30

appeal. However, developers do need to acknowledge and respond to the fact that the brand appeal of a center is increasingly driven by elements and experiences you can’t get online. Food and entertainment, while not immune from changing consumer sentiment, also tend to be less susceptible to the shifting sands of consumer preferences and volatile brand popularity.

‘It’s increasingly clear that brick-and-mortar will not lose its foundational appeal. But developers need to respond to the fact that a center’s appeal is driven by elements and experiences you can’t get online.’ It isn’t just the tenant roster that needs to be built with today’s consumers and market realities in mind. Like so many other successful Poag lifestyle centers, Avenue One will showcase distinctive districts with their own architectural identity, landmark design elements, and a mix of materials and styles that conveys the impression of a place that has evolved organically over time. Add in plenty of creative outdoor spaces and landscaping elements, storefront porosity, and abundant opportunities for immersive community activations and placemaking moments, and the result is a memorable and enduring sense of place. Lastly, ground-up lifestyle requires the right partnerships, such as the one Poag announced last year with Chicago-based retail property management company JLL. Avenue One is the first ground-up project since the partnership became official, and Poag finds it is already paying dividends with JLL generating significant leasing momentum. Partnering with a local landowner has provided expertise and relationships in the market to bring value and make this project viable. But the reality is that the formula for ground-up lifestyle success demands not just the right opportunity in the right market, but the right people and the right constellation of circumstances to build something special. Josh Poag is the president and CEO of Poag Development Group in Memphis. NOVEMBER/DECEMBER 2023

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Small Details. Big Experiences. Poag Development Group is bringing our expertise to the shopping center of the future, mixed-use retail destinations, offering our clients unmatched expertise to steward their centers forward in the years to come. Visit us at JLL Booth #1635 at ICSC NYC.

PoagDevelopmentGroup.com

TECH VIEWPOINT experience so customers can have the experience of shopping inside the store using their phones and PCs.

Every Wednesday The only industry newsletter dedicated to store planning & design, construction, and facilities management. Get the latest news on retailers’ expansion and remodeling programs, new store prototypes, green initiatives, facilities updates and more. Find out who’s opening stores and where. CSA Store Spaces covers retail development and facilities management inside and out.

Non-Retailers Join Directto-Consumer Trend The Rolling Stones, Mars and Unilever all demonstrate that selling items to consumers isn’t only an activity for traditional retailers. I’ve been keeping tabs on technology innovations in the direct-to-consumer (DTC) retail space, which continues to be a space that produces interesting tech deployments. But increasingly, companies that do not ordinarily fit the definition of a “retailer” are taking advantage of omnichannel technologies and strategies to directly sell products to consumers. Here is a look at how a couple of CPG giants — and one of the biggest rock bands of all time — are engaging customers across a number of channels and touchpoints. The Rolling Stones The “Greatest Rock and Roll Band in the World” has long been a savvy sales and marketing organization, so it’s not a surprise that the Rolling Stones have been actively involved in direct-to-consumer (DTC) retailing for a few years. The Stones have operated a flagship store on London’s trendy Carnaby Street since 2020, but unleashed an omnichannel retailing blitz to promote the recent release of “Hackney Diamonds,” their first album of all-new material in 18 years. RS No. 9, the retail format focused on the legendary British rock band, opened two U.S. pop-ups selling licensed merchandise and artwork from Rolling Stones guitarist Ronnie Wood, with locations in New York City’s Union Square neighborhood and another on Santa Monica Boulevard in Los Angeles, in October. In Japan, a semi-permanent physical location, dubbed RS No. 9 Harajuka, is set to open in Tokyo’s fashionable shopping district. The Rolling Stones have also launched a global e-commerce shop equipped with a 360° virtual

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Mars Snacking Global CPG treats and snack company Mars Snacking is directly targeting Uber customers, having begun partnering with Uber just in time for Halloween. Mars Snacking is providing interactive content about Skittles candy product from parent company Mars to Uber and Uber Eats customers. Uber, which initially expanded from its core rideshare business into third-party online delivery with the launch of Uber Eats in 2015, began enabling CPG companies to promote their brands and products to its app users in May 2023. Now, Mars is displaying interactive Uber Journey Ads and Post-Check Out Ads to consumers taking a ride in an Uber vehicle or waiting for their Uber Eats order. The ads will enable consumers to seamlessly interact with the Skittles website and add Skittles products to their Uber Eats shopping carts. Unilever Unilever, which has deployed a fleet of Robomart on-demand mobile mini-marts to take its virtual direct-to-consumer (DTC) ice cream storefront, The Ice Cream Shop, on the road, also offers ice cream delivery via drone. The company partners with end-to-end drone delivery company Flytrex to make Ice Cream Shop drone deliveries across all of Flytrex’s U.S. locations. According to Unilever, drone orders from The Ice Cream Shop will be delivered to front and back yards of local residents with a promised flight time of less than three minutes. Customers can place orders for drone deliveries of ice cream using the Flytrex app, which provides customers with real-time updates along the delivery route until the package is lowered safely by wire into their yard. The Flytrex app also offers exclusive bundles from The Ice Cream Shop, including packages with themes of chocolate, cookie ice cream, berry/fruit ice cream, barbecue, and Ben & Jerry’s.

Dan Berthiaume dberthiaume@chainstoreage.com

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TECH

Tech: The Year Ahead Keep an eye on generative AI, retail media networks and TikTok By Dan Berthiaume Generative AI will continue to be a generator of retail technology headlines in 2024, but retail media networks and TikTok will also make a splash. The year 2023 saw the world fully emerge from the pandemic just in time for a leading-edge artificial intelligence technology called generative AI to disrupt everything from customer service to term papers. But two other technology platforms that have been building momentum: Retail media networks and TikTok, are also set to play dominant roles on the retail technology stage in the coming year. Here is a closer look at what retailers can expect from each of these innovative technologies in the new year: Generative AI Generative AI, which is based on machine learning (ML) and can create new content and ideas, including conversations, stories, images, videos, and music, dominated the retail industry in 2023 like no technology since smartphones in the early 2010s. The year began with a slew of generative AI-enabled customer service chatbots, which will remain a major focus area for retailers. But generative AI is rapidly evolving to become an enabling technology for solutions across every area of the enterprise. For example, Amazon Ads has launched a generative AI-based image generation solution designed to enable brands to produce lifestyle imagery that can help improve their ad performance, such as placing a standalone image of a toaster on a kitchen counter. Meanwhile, chief Amazon rival Walmart is finding internal uses for generative AI. Walmart is including a feature based on the technology called “My Assistant” in the Me@Campus “super CHAINSTOREAGE.COM

app” it provides to corporate employees. Walmart has said MyAssistant will help employees with tasks such as speeding up the drafting process and summarizing large documents. Retail media networks Retail media networks provide retailers’ brand partners with direct promotional access to shoppers. Typically, the networks deliver targeted ads to seg-

mented consumers via channels such as in-store digital displays, as well as online advertisements and connected TV. They emerged from the grocery/CPG sector, with Target’s Roundel network as an early example. But as 2024 looms, retail networks are becoming enough of a standard offering that the retail media arm of Albertsons Companies shared a preliminary framework to standardize specifications, methodologies, terminology and disclosures across retail media networks in summer 2023. In another major indicator that retail media networks are poised to go mainstream in 2024, they are increasingly being deployed by retailers in new ways across new verticals. This includes Ulta Beauty’s UB Media network partnering with smart vending machine provider SOS to place interactive product sampling kiosks in select store

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locations. The kiosks offer Ulta’s brand partners addressable advertising leveraging its Ultamate Rewards loyalty members. Existing loyalty members can enter their phone or email at a kiosk to gain access to their Ultamate rewards account to receive a free sample from a UB Media partner brand, while non-member customers can sign up and create an account at the machine to receive the samples. And Boston-based local cannabis retailer Redi demonstrates the breadth of retailers entering the retail media network space. Redi, which operates two stores and a website in the Greater Boston area, is leveraging the new Surfside Commerce Media retail media network platform to support both on-site and offsite advertising for its partner cannabis brands. TikTok TikTok has been attracting large amounts of attention during the past few years, and not always the good kind. The Biden administration has been consistently expressing serious regulatory concerns, which began under the Trump administration, and the state of Montana went so far as to ban TikTok within its borders (which may be difficult or impossible to enforce). However, an estimated 150 million Americans use TikTok, and major retailers including Walmart and Sephora have partnered with the short video platform. Recently, TikTok further solidified its presence in the U.S. digital retail space by launching TikTok Shop, an e-commerce storefront that includes selling tools for retail partners. Partnering with TikTok may not be the right step for every retailer, but don’t let general fears about its viability prevent you from exploring its potential. 33

TECH

Livestream Commerce Free People engages customers with live shopping events By Dan Berthiaume Free People is engaging and converting customers with its livestream shopping initiative. Chain Store Age recently spoke with Libby Strachan, director of brand marketing at Free People, about why and how the specialty apparel retailer, a banner of Urban Outfitters Inc., leverages a platform from Bambuser to offer customers a livestream shopping experience. What made Free People consider livestream shopping? In summer 2021, we saw the growth and popularity of livestream shopping, both in China and spreading worldwide. Free People started to see a few of our competitors test live shopping, and we really try to be on the forefront of innovation in the marketing space. Once we started seeing competitors utilizing and testing live shopping, we decided it would be a great time for us to dip our toes in the water. We were also looking for a solution that would let us offer fit and styling for customers who were not coming into retail stores. How did you roll out the Bambuser solution? Implementation took less than three months. Bambuser was able to customize our branding and have it live on our site and look very seamless, incorporating our fonts and logo in a way that doesn’t feel intrusive to the customer. Our first livestream episode ran in November 2021. Describe a Free People livestream session. Each episode is about 15 to 30 minutes in length. We have a variety of programs and can air something that’s been prerecorded or a live episode. The content sometimes features internal employee hosts talking through and speaking to product specifics.

Free People has also worked with external partners to act as hosts. These have included social influencers like Remi Bader and Kelsey Kotzur. We also have a recurring series hosted by Rumer, Scout and Tallulah Willis, the daughters of Demi Moore and Bruce Willis. They’re very funny and relatable, and we tend to see our highest tune-in and sales metrics when they come for their seasonal hosting episode. How do customers view, engage and make purchases with the livestream episodes? If it’s a live episode, customers can comment in the chat and they can ask real-time questions of the hosts, who are able to see the questions pop up on their screen. Viewers can also see the specific products that the hosts are currently talking about featured. They can click a product from a list of all the products featured in that episode on the side. The item will pop up for them and they can select attributes like size and color and then add to their cart as they watch. Everything is hosted on our site. Bambuser is seamlessly integrated to our e-commerce site, so customers can add products to their cart as they’re watching and then complete the purchase on the site. Can you provide any livestream performance metrics? We have run 35 livestream episodes in a roughly two-year period, with more than

79,000 unique viewers across those episodes. Also, there is a lower return rate for orders placed as a result of live shopping episodes. That proves to us that these episodes are helping our customers better understand how a product fits. And we have found that when we use our own internal employees, like the design team and the styling team, our customers want to hear from them just as much or even more than our external celebrity or influencer hosts. Live episodes can be accessed via our desktop or mobile site. I know Bambuser has launched app integration, but we have not gotten to that yet. Also, while we are able to go live on Instagram and TikTok, we find that the audience is not very engaged. With our live shopping hosted on our site, we find we have an engaged audience that is primed to shop and interested in adding things to their cart. Can you mention any future plans for this program? Free People will continue to test and treat live retailing as a sandbox to figure out what type of content our customers want to see and engage with. We will continue to build our library of livestream episodes.

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