Last week's initial public offering netted Truett-Hurst winery in Healdsburg, Calif., $14.1 million after the company had to pay $2.1 million of the $16.2 million raised for underwriting fees. Three-quarters of the winery's sales come from custom label wines for Safeway, Trader Joe's and Total Wine & More, but Truett-Hurst also sells its own labels, such as Healdsburg Ranches and Bradford Mountain.
U.S. retail centers cut expenses, grew sales last year and as a result, strengthened their net operating incomes by some 3.6% year over year, according to the ICSC and the National Council of Real Estate Investment Fiduciaries. ICSC Chief Economist Michael P. Niemira anticipates NOI will continue to improve this year as sales increase.
The over-55 set will be driving growth at U.K. shopping centers in the coming years, as retirement provides more leisure time and younger consumers continue to shift more of their shopping online, according to market research firm Conlumino. For mall developer Hammerson, the trend will drive changes including better parking and a significant increase in space dedicated to leisure facilities such as restaurants and cinemas.