A difficult economic climate in the U.S. has made international expansion a priority for department store chains. Success abroad is difficult to achieve, however, partly because many independent fashion designers are opening their own stores in overseas markets.
Macy's is expanding a pilot program that uses automated kiosks with touch-screen technology to sell electronics. The program, which has been tested in some stores for two years, will now be available at 400 locations.
Outlet centers are booming during this economic downturn, said executives at the ICSC RECon show in Las Vegas. The three major owners, Chelsea Premium Outlets, Prime Retail and Tanger Factory Outlet, have roughly 4.5 million square feet of new space under development.
Dutch investor Allied Trading and Transaction Corp. N.V. acquired the 140,000-square-foot Old Spanish Trail Marketplace in Tucson, Ariz., for $33 million. Foreign investors increasingly are interested in buying U.S. retail, say brokers.