At Vegas gathering, hope grows for a retail turnaround

May 23, 2010
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cash registerThe nation's largest retail leasing confab began on Sunday in Las Vegas with a hopeful welcome from Michael Kercheval, CEO of the International Council of Shopping Centers. He gave three reasons for optimism: Consumers are more confident and less likely to hoard cash. Retail businesses are more profitable having shed expenses and underperforming stores. And there are few new shopping centers opening, meaning supply is close to demand. About 30,000 people were scheduled to attend the annual deal-making event, at which developers recruit tenants for their buildings and retailers eager for growth find spots to open in multiple markets. Stay tuned to Property Lines through Tuesday for updates on retail deals in Indianapolis.

There are other signs of a retail turnaround. Earnings reports from most publicly traded retailers have exceeded analyst expectations. And a survey of more than 100 retail executives by CB Richard Ellis found that 92 percent of retailers are planning to increase the number of new-store openings in the next few years. About 70 percent are feeling more confident about the economy. “The general sense is that the activity is certainly much more vibrant than it was last year at this time,” said Donna Hovey, vice president of retail in CB’s Indianapolis office. “What everyone is sort of bracing themselves for is: Is it real?”

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  • Double down
    Cory,
    Remember this:
    Double down on all 11s and split 7s and you'll have a productive trip.
  • Couldn't bring myself to go this year...
    Most people don't go to RECon for the speakers but man, hiring Sarah Palin as opening speaker? I knew I would have to pass this year. But best of luck to SPG, KRG and the usual local suspects for bringing home some retail deals.

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  1. With Pence running the ship good luck with a new government building on the site. He does everything on the cheap except unnecessary roads line a new beltway( like we need that). Things like state of the art office buildings and light rail will never be seen as an asset to these types. They don't get that these are the things that help a city prosper.

  2. Does the $100,000,000,000 include salaries for members of Congress?

  3. "But that doesn't change how the piece plays to most of the people who will see it." If it stands out so little during the day as you seem to suggest maybe most of the people who actually see it will be those present when it is dark enough to experience its full effects.

  4. That's the mentality of most retail marketers. In this case Leo was asked to build the brand. HHG then had a bad sales quarter and rather than stay the course, now want to go back to the schlock that Zimmerman provides (at a considerable cut in price.) And while HHG salesmen are, by far, the pushiest salesmen I have ever experienced, I believe they are NOT paid on commission. But that doesn't mean they aren't trained to be aggressive.

  5. The reason HHG's sales team hits you from the moment you walk through the door is the same reason car salesmen do the same thing: Commission. HHG's folks are paid by commission they and need to hit sales targets or get cut, while BB does not. The sales figures are aggressive, so turnover rate is high. Electronics are the largest commission earners along with non-needed warranties, service plans etc, known in the industry as 'cheese'. The wholesale base price is listed on the cryptic price tag in the string of numbers near the bar code. Know how to decipher it and you get things at cost, with little to no commission to the sales persons. Whether or not this is fair, is more of a moral question than a financial one.

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