Evolution of malls being held back by antiquated department store agreements

Reciprocal easement agreements (REAs) were common in the day when mall landlords needed to attract major department store anchors. The REAs, still in effect in many cases, give the retailers a good deal of control over how the mall is managed and designed. Times have changed and mall owners now want to renovate their properties to be more relevant in shoppers’ lives,…

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Deloitte suffers U.S.-focused cybersecurity breach

Deloitte, one of the world’s largest accounting firms, was hit with a cyber-attack, possibly occurring over a year ago, which compromised a number of blue chip accounts, according The Guardian. The hacker(s) apparently gained access to client passwords, usernames, IP addresses and other sensitive business information by way of a Deloitte administrative account that did…

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Off-price retailers will do just fine against Amazon, analyst says

Matthew Boss of JPMorgan advised clients in a note yesterday that off-price retailers, like TJ Maxx, Ross Stores and Burlington, should in their way benefit more from department store closures than Amazon. The analyst sees Amazon’s place in the market as being more akin to department stores and believes the off-pricers will be in a better position to…

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Disney connects with theme-parks (digitally) in new store designs

Disney’s store count of 340 is at about a third of its peak years ago before the company sold and then bought back some of its locations. Instead of expanding again, the company is focusing on a more interactive in-store experience, installing large digital displays that stream live events from its theme-parks. The screens will also…

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