Summertime is here, and while this may be the most unusual one in the city in a generation, as we slowly emerge from the New York on PAUSE, there are signs of life in local leasing. As other regions further along in reopening are reporting, retailers are benefiting from pent-up demand. Could this bode well when our economy fully emerges from the COVID-19 slumber?
All About Apparel
CustomInk, which produces personalized apparel, will open its second store in New Jersey at 126 Central Avenue.
Wining & Dining
Sommeliers Jason Jacobeit and Daniel Jung will open Somm Cellars Wine & Spirits, a 1,300-square-foot luxury wine store, at Waterline Square at Riverside Boulevard and 59th Street. The store will offer a selection of wines and spirits from various regions with a focus on Burgundy. Jacobeit has been wine director at Batard, Jung head sommelier at Tribeca Grill. The shop also will house a bar for wine tastings. The three-tower condo development also will house a Cipriani and Empellón Taqueria.
The Bun Hut, an Asian fusion eatery that combines Chinese and Caribbean cuisine, has opened (for takeout, of course, for now) at 178 Stanton Street.
Protect Yourself
Just in time for the Phase 1 reopening, RapidMask2Go, a vending machine selling $3 face masks, has expanded from the Lower East Side to Turnstyle Market, the subterranean shopping center at Columbus Circle. Eventually, the company plans to offer hand sanitizers and gloves at the kiosks.
Necessity Retail
312 Food Corp. has signed a 20-year lease for a supermarket and office space above at 312 Audubon Avenue in Washington Heights, according to the Commercial Observer. The paper also reported that Shookit, a startup from Israel that delivers fresh produce by bicycle within two hours, has taken space at 896 Madison Avenue.
That’s Entertainment
Warriors, get ready! Real Life Ninja Academy will open its first location in Manhattan at 625 West 55th Street. Athletes of all ages and skill levels will learn how to analyze, approach and conquer challenging obstacles at this state-of-the-art training facility. Ninja coaches and trainers will teach beginner and intermediate small group classes, as well as provide advanced one-on-one sessions to prepare athletes interested in competition. The 5,814 square-foot studio will also be the first ninja warrior obstacle training facility the borough, according to Newmark Knight Frank (NKF). The Academy is planning a grand opening this fall.
Axe throwing seems to be here to stay. Stumpy’s Hatchet House has signed for more than 14,000 square feet at 107 Pleasant Avenue in Upper Saddle River, New Jersey. The facility will be its sixth location in the state.
Coming Back to Life
The 450 Macy’s stores that reopened as of June 1 are seeing better-than-expected results, CEO Jeff Gennette told Women’s Wear Daily. Sales are down 50% — a vast improvement over the 80% to 85% drop Gennette had expected — but improve each week. Kohl’s had reopened 50% of its store base by its late May quarterly analyst call, with the stores doing about 50% to 60% of productivity. The company also announced plans to exit the Dana Buchman, Jennifer Lopez, Mud, Candies, Rock & Republic, PopSugar, Elle and Juicy Couture brands to introduce new brands (which include Lands’ End).
As of its late May call, Nordstrom had reopened 40% of its stores and had shifted its Anniversary Sale event from July to August this year. L Brands reported that 66 stores had reopened, including its first two mall locations, with sales in line with the comp trend prior to the shutdown on March 17. In addition, 250 Victoria’s Secret stores will be closed permanently.
TJX Cos., which shuttered its online as well as brick-and-mortar businesses in mid-March, reopened 1,600 stores worldwide by late May. Units in the U.K. and Ireland remained closed. For stores that have been open for at least a week, sales have been above 2019 levels, with home goods especially strong.
Gap had reopened 1,500 stores by the beginning of June, nearly twice the original plan of 800 units. Reopened stores are generating 70% of last year’s performance, with Old Navy especially strong, the company reported. Tapestry had reopened 95% of its stores in China by mid-March, with traffic down year-over-year but sales “encouraging,” reported Jide Zeitlin, chairman and CEO. By late April, the Coach, Stuart Weitzman and Kate Spade parent had reopened 40 stores for curbside or storefront pickup depending on mall configurations.
By late May, Foot Locker had reopened 1,400 stores (approximately 45% of its global total), including 900 units in 31 U.S. states and Canada. Traffic is down, but conversion is strong, the company reported. Classic basketball styles remained the most sought-after merchandise for men, women and children.
Debra Hazel
Debra Hazel Communications
Arverne, NY 11692
debra@debrahazelcommunications.com
201-618-5247
