Author Topic: Cleveland: Retail News  (Read 54158 times)

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Offline KJP

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Re: Cleveland: Retail News
« Reply #3480 on: November 03, 2017, 06:24:25 PM »
November 03, 2017 2:55 pm      UPDATED 3 HOURS AGO
Kmart store in Cleveland to close
[/size]By[/color] STAN BULLARD [/font]This will be the last holiday shopping season for the Kmart store at 14901 Lorain Ave. in Cleveland.

Sears Holdings Corp. (NASDAQ: SHLD) announced Friday, Nov. 3, that the store is among 45 Kmart stores and 18 Sears stores the Hoffman Estates, Ill.-based retailer will close by the end of January. A Sears Holdings statement said some of the stores will start holding liquidation sales on Thursday, Nov. 9.

The closings are the latest the owner of Sears and Kmart stores have set this year as it continues to trim its physical footprint and adapt to online retailing. The Kmart store on Rockside Road in Garfield Heights was targeted for closing in August in another round of shutdowns.

MORE:
http://www.crainscleveland.com/article/20171103/NEWS/171109948/kmart-store-in-cleveland-to-close
« Last Edit: November 08, 2017, 11:08:30 PM by ColDayMan »
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Offline YABO713

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Re: Cleveland: Retail News
« Reply #3481 on: November 06, 2017, 01:26:03 PM »
It appears that the MetroHome store on the first floor of 1717 has closed its doors. Wild, considering I walked by on Friday and everything was up and running. The entire space is now empty.

Offline mrclifton88

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Re: Cleveland: Retail News
« Reply #3482 on: November 06, 2017, 01:49:24 PM »
It appears that the MetroHome store on the first floor of 1717 has closed its doors. Wild, considering I walked by on Friday and everything was up and running. The entire space is now empty.

I don't believe this was entirely a location-based issue, as the Mentor location also closed last year.

Offline stpats44113

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Re: Cleveland: Retail News
« Reply #3483 on: November 06, 2017, 05:26:31 PM »
It appears that the MetroHome store on the first floor of 1717 has closed its doors. Wild, considering I walked by on Friday and everything was up and running. The entire space is now empty.

I don't believe this was entirely a location-based issue, as the Mentor location also closed last year.

It was a location based issue. I️ spoke to the owner and he said didn’t justify the rent.

Online PoshSteve

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Re: Cleveland: Retail News
« Reply #3484 on: November 06, 2017, 06:40:24 PM »
That's a shame. I liked that store. I wonder if they'll be opening a new location around somewhere, even if its not downtown. If I remember correctly, the Mentor store closed because they had opened the Downtown one, and they didn't want two locations.

Offline osu87

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Re: Cleveland: Retail News
« Reply #3485 on: November 08, 2017, 09:19:40 PM »
It appears that Penzies Spices maybe moving from Eton over to the shopping center where Whole Foods currently is in the old Starbucks space

Offline KJP

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Re: Cleveland: Retail News
« Reply #3486 on: November 09, 2017, 03:43:28 PM »
Uh oh. Risky debt is coming due. The greater Cleveland area is especially at risk....

America’s ‘Retail Apocalypse’ Is Really Just Beginning
By Matt Townsend, Jenny Surane, Emma Orr and Christopher Cannon
November 8, 2017

The so-called retail apocalypse has become so ingrained in the U.S. that it now has the distinction of its own Wikipedia entry.

...But chains also said 6,800 would close. And this comes when there’s sky-high consumer confidence, unemployment is historically low and the U.S. economy keeps growing. Those are normally all ingredients for a retail boom, yet more chains are filing for bankruptcy and rated distressed than during the financial crisis. That’s caused an increase in the number of delinquent loan payments by malls and shopping centers.

The reason isn’t as simple as Amazon.com Inc. taking market share or twenty-somethings spending more on experiences than things. The root cause is that many of these long-standing chains are overloaded with debt—often from leveraged buyouts led by private equity firms. There are billions in borrowings on the balance sheets of troubled retailers, and sustaining that load is only going to become harder—even for healthy chains.

The debt coming due, along with America’s over-stored suburbs and the continued gains of online shopping, has all the makings of a disaster. The spillover will likely flow far and wide across the U.S. economy. There will be displaced low-income workers, shrinking local tax bases and investor losses on stocks, bonds and real estate. If today is considered a retail apocalypse, then what’s coming next could truly be scary.

MORE:
https://www.bloomberg.com/graphics/2017-retail-debt/
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Online roman totale XVII

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Re: Cleveland: Retail News
« Reply #3487 on: November 14, 2017, 10:33:34 PM »
It appears that the MetroHome store on the first floor of 1717 has closed its doors. Wild, considering I walked by on Friday and everything was up and running. The entire space is now empty.

I don't believe this was entirely a location-based issue, as the Mentor location also closed last year.

As much as I hate to see anywhere downtown close, I’m not in the least bit surprised by this. Subjectively, their furniture was awful to look at. They were aiming at, and marketing ‘contemporary’, but whoever was designing the stuff had no idea. More objectively, even if I did like anything they had, I couldn’t buy it as they had nothing sized for apartment living. The sofas, credenzas etc were all full sized and built for outer-ring McMansions.
I went in there when it first opened and was quite prepared to drop a few grand on soft furnishings for the apartment I’d just moved into. I spent the money at BO Concepts and IKEA instead.
« Last Edit: November 14, 2017, 10:39:42 PM by roman totale XVII »

Offline osu87

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Re: Cleveland: Retail News
« Reply #3488 on: November 22, 2017, 02:28:25 PM »
At Eton, Menchies Yogurt closed and sign already up Kendra Scott coming soon. No sign in the former Penzy’s Spices what is going there

Offline mrnyc

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Re: Cleveland: Retail News
« Reply #3489 on: November 22, 2017, 03:45:36 PM »
^ i have a work site in dobbs ferry, ny with a menchies next to it. its pretty good i like it. there are good chains lol.

Online freefourur

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Re: Cleveland: Retail News
« Reply #3490 on: November 22, 2017, 03:48:18 PM »
Interesting that the Menchies closed because Stark owns the master franchise for NEO if I'm not mistaken.

Offline osu87

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Re: Cleveland: Retail News
« Reply #3491 on: November 22, 2017, 08:45:50 PM »
I believe you are correct

Offline Pugu

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Re: Cleveland: Retail News
« Reply #3492 on: November 22, 2017, 08:58:42 PM »
"master franchise for NEO "   does that mean one person/company owns all stores of a chain within a given market?

Online freefourur

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Re: Cleveland: Retail News
« Reply #3493 on: November 22, 2017, 10:03:06 PM »
my understanding is that Stark owns the rights to Menchies franchises in NEO.  If anyone wants a Menchies they have to go through Stark.  Again, I might be wrong.

Online eastvillagedon

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Re: Cleveland: Retail News
« Reply #3494 on: December 07, 2017, 02:32:33 PM »
I guess this falls under the category of past glory, but a sad comment on not just Cleveland but to some extent all cities, and the decline of the great department stores--

Area residents reflect on ‘The Golden Age of Shopping in Downtown Cleveland’

http://www.news-herald.com/general-news/20171206/area-residents-reflect-on-the-golden-age-of-shopping-in-downtown-cleveland

Online freethink

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Re: Cleveland: Retail News
« Reply #3495 on: December 10, 2017, 10:39:21 PM »
WOIO is reporting that Aspire Fitness Center seems to be behind the recent construction at the former Best Buy at Steelyard Commons.

http://m.cleveland19.com/story/37022873/construction-happening-inside-former-best-buy-building-in-clevelands-steelyard-commons

Offline osu87

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Re: Cleveland: Retail News
« Reply #3496 on: December 21, 2017, 09:48:06 AM »
They have the signage up at Legacy Village around the old Apple store and tropical smoothie and the old ice cream store where Arhaus is moving

Offline mrclifton88

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Re: Cleveland: Retail News
« Reply #3497 on: December 22, 2017, 11:42:29 AM »
It seems that Cafe Sausalito, which somehow is still going in the Galleria's second floor, is moving to the IMG building fronting East Ninth.  Signs out front say coming soon: Sausalito on Ninth.  I assume it is the same.  Patio has been built out as well.

Offline YABO713

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Re: Cleveland: Retail News
« Reply #3498 on: December 22, 2017, 12:03:47 PM »
It seems that Cafe Sausalito, which somehow is still going in the Galleria's second floor, is moving to the IMG building fronting East Ninth.  Signs out front say coming soon: Sausalito on Ninth.  I assume it is the same.  Patio has been built out as well.


That's my building. I feel terrible considering Anna in the Raw had been attempting to expand there for years.

Online eyehrtfood

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Re: Cleveland: Retail News
« Reply #3499 on: January 15, 2018, 02:33:48 AM »
Comings/Goings - 

Beachwood Place: A Nespresso (coffee) Boutique opening (no mall announcement but saw recent job postings...) Unclear if in the mall or at LaPlace, which is shown on GGP website as part of mall. In other cities these are destinations/hot spots though unclear if it will have a full cafe like some do (Beverly Hills, etc...).. Originally rumored for Pinecrest...

Interesting 2nd hand rumor from local real estate insider last week: Bloomingdale's looking at possible store at or adjacent to Beachwood Place (even mentioned buying homes on some property, which may be confused with Richmond Rd homes mall bought and torn down for expansion). This seems totally "rumor" only - especially Bloomingdale's as the retailer, I just don't buy it (perhaps there was confusion with another retailers actually interested in building there) - and against everything going on in retail today... BUT, the Maggiano's closing/two empty mall front restaurant spaces, stalled western side expansion and total quiet on the mall expansion front for tast year, plus the very competitive market coming with Pinecrest and Van Aken added in 2018, makes me think something of some sort may be up.

Side mall note: the weekend evening (and occasional other period) "no unsupervised juveniles" policy does appear to have noticeably changed the nighttime mix of shoppers - and both security and police are  very visible  at entrances. I know there are likely different feelings about the policy on this board, and we all can feel as we feel, but as a shopper, on several recent evenings, I can say that the mall was both fairly busy and had a much more "family" vibe to it... (icluding many actual families and still a wide range of shoppers and ages).

Cedar Creek Grille's sister restaurant, Lindey's Lake House, in planning stages at LaPlace, including expansion, and on recent city zoning agenda. 

The Michael Kors store on mall first level has closed (one of about 120 stores closing nationwide for this retailer...)

Legacy Village: Construction fence/trailer now up for new Arhaus - and interior demolition appears to be beginning. Entire Crate&Barrel side parking lot now turned into construction area, over to side of Brio.

Crocker Park: Blue Sushi and Sake (Omaha based small chain) announced and Cantina Laredo Mexican beginning construction near Hyatt Place.
Note: retail on American Greetings end of Crocker, including entire first floor of  building, remains probably 75% vacant some 18 months or more after completion. Challenging environment.
« Last Edit: January 15, 2018, 01:30:20 PM by eyehrtfood »

Offline Mov2Ohio

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Re: Cleveland: Retail News
« Reply #3500 on: January 15, 2018, 10:12:50 AM »
Yea Bloomingdales expanding seems like a reach given Macy's issues over the last few years, but that area has great demographics, full of people that could and would be able to afford to shop there.

I agree with the police/security presence at beachwood. Was there a few weeks ago and they were noticeably visible. It's a shame it has to be that way, but it is what it is.

Online eyehrtfood

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Re: Cleveland: Retail News
« Reply #3501 on: January 15, 2018, 01:33:59 PM »
i agree it's a shame Beachwood Place has such visible security to keep teenagers from making this a nighttime gathering spot. At the same time, they have a serious investment to protect - one that's been tainted via interior and exterior fights and crime - and if this keeps them out of the headlines and makes these events less likely to happen - and some customers feel more comfortable visiting, well...

Online Sir2geez

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Re: Cleveland: Retail News
« Reply #3502 on: January 15, 2018, 01:43:18 PM »
Easton has the same policy/security for the same reasons. Sign of the times.

Offline osu87

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Re: Cleveland: Retail News
« Reply #3503 on: January 17, 2018, 05:57:01 PM »
Yea Bloomingdales expanding seems like a reach given Macy's issues over the last few years, but that area has great demographics, full of people that could and would be able to afford to shop there.

I agree with the police/security presence at beachwood. Was there a few weeks ago and they were noticeably visible. It's a shame it has to be that way, but it is what it is.

I knew Michael Kors was in trouble nationally, is the Westlake store still open at Crocker?? Also does anyone know how the Kate Spade store status is at Beachwood??

Offline AmrapinVA

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Re: Cleveland: Retail News
« Reply #3504 on: January 25, 2018, 09:41:04 AM »
I know it's not an IKEA but arts-and-crafts chain AC Moore is expanding outside of the East Coast and opening it's first Ohio store in Parma:

A.C. Moore Announces First Ohio Store at The Shoppes at Parma

https://www.businesswire.com/news/home/20180118006288/en/A.C.-Moore-Announces-Ohio-Store-Shoppes-Parma

Offline E Rocc

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Re: Cleveland: Retail News
« Reply #3505 on: January 25, 2018, 11:53:57 AM »
i agree it's a shame Beachwood Place has such visible security to keep teenagers from making this a nighttime gathering spot. At the same time, they have a serious investment to protect - one that's been tainted via interior and exterior fights and crime - and if this keeps them out of the headlines and makes these events less likely to happen - and some customers feel more comfortable visiting, well...

It's not even remotely their duty to provide such a place. 

Offline osu87

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Re: Cleveland: Retail News
« Reply #3506 on: January 26, 2018, 07:26:24 PM »
Shopped at AC Moore in Myrtle Beach

Offline Mov2Ohio

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Re: Cleveland: Retail News
« Reply #3507 on: January 27, 2018, 09:34:19 PM »
I'm hearing that Steak n' Shake that opened up sometime last year I think at Oakwood Commons in South Euclid closed. That was REAL quick. Anyone know what happened?

Online eyehrtfood

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Re: Cleveland: Retail News
« Reply #3508 on: January 27, 2018, 10:04:47 PM »
I'm hearing that Steak n' Shake that opened up sometime last year I think at Oakwood Commons in South Euclid closed. That was REAL quick. Anyone know what happened?

It would appear that this was a franchised location (fairly uncommon for them) - not a corporate one - with horrible word of mouth/reviews. Franchise operators certainly have been known to get in over their heads at times.

Offline Mov2Ohio

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Re: Cleveland: Retail News
« Reply #3509 on: January 27, 2018, 10:55:57 PM »
I'm hearing that Steak n' Shake that opened up sometime last year I think at Oakwood Commons in South Euclid closed. That was REAL quick. Anyone know what happened?

It would appear that this was a franchised location (fairly uncommon for them) - not a corporate one - with horrible word of mouth/reviews. Franchise operators certainly have been known to get in over their heads at times.

A few people I know personally gave it terrible reviews regarding the service. What does corporate do in a situation like this? Take it over an operate it properly, or just let the she'll rot until another probably fast food operator comes along and remodels?