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Education and Events    Resources    News and Publications    Get Involved    Membership    About PRSM Feb. 10, 2012

Lennox Industries
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FacilitySource receives investment from Warburg Pincus
PRSM    Share   Share on FacebookTwitterShare on LinkedinE-mail article
FacilitySource, a leading global provider of facility maintenance and management solutions to retailers and other multi-site operators, announced that Warburg Pincus, a leading global private equity firm focused on growth investing, has acquired majority ownership in FacilitySource. Terms of the transaction were not disclosed. FacilitySource manages over 60,000 facilities worldwide via an elite service provider network, representing over $1 billion in aggregated spend each year. The company has grown rapidly since taking its solution to market in 2005, averaging 25-30 percent growth in each year. FacilitySource is poised to accelerate this growth with the backing of Warburg Pincus. More

Retail sector pushes higher in third quarters of cities
The Business Journals    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The retail sector, which languished for much of the past four years, is showing new signs of life. Nearly three-quarters of the nation's 100 major metropolitan areas added retail jobs last year, according to an On Numbers analysis of annual data from the U.S. Bureau of Labor Statistics. More

Survey reveals high numbers of retailers using RFID to track item sales    Share    Share on FacebookTwitterShare on LinkedinE-mail article
According to a new study from the VICS Item-Level RFID Initiative, a group of advocates for the use of EPC-enabled RFID in the retail supply line, 2012 is predicted to be a "tipping point" year for RFID technology. The study is titled, "RFID Nears a Tipping Point," and reveals that 80 percent of retailers surveyed are piloting RFID to track item sales in their stores. More

Barneys New York back in hot water
Crain's New York Business    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Barneys New York is again in financial hot water. The high-end retailer is in talks with its lenders about restructuring. "Barneys New York is actively engaged in discussions with the company's small group of lenders to improve its balance sheet and further position Barneys New York for sustainable, long-term growth and success," a Barneys spokeswoman said, in a statement. "We are focused on resolving this matter as expeditiously as possible, and it will remain business as usual at Barneys New York." More

Manhattan, NY, leasing tumbles 26 percent in January
Crain's New York Business    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Commercial leasing in Manhattan, N.Y., began the year on a strong negative note, continuing the downward trend that started early in the second half of 2011 when renewed concerns about the economy pushed many companies to reconsider plans to move or expand and forcing some to retrench. More

Walmart to spend $765 million on Canada stores by 2013
International Council of Shopping Centers    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Walmart is beefing up its footprint in Canada as rival Target prepares to open its first stores there. Walmart Canada announced it will spend $750 million by 2013 to open 4.6 million new square feet of retail space consisting of new store openings and remodels of existing stores. More

Valentine's Day 2012 spending, by the numbers
Time    Share    Share on FacebookTwitterShare on LinkedinE-mail article
According to one estimate, 60% of all Valentine's spending occurs in the five days leading up to and including the holiday. That means we're in the prime Valentine's spending period right now. Here are some more factoids related to Feb. 14 — a big day for Cupid, and for quite a few businesses. More

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Consumer comfort hits highest level in a year
Bloomberg    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Consumer confidence in the U.S. climbed to a one-year high, spurred by improving employment opportunities and a rally in the stock market. The Bloomberg Consumer Comfort Index rose to minus 41.7 in the period to Feb. 5 from minus 44.8 the previous week. Confidence among political independents, considered a key group in presidential elections, increased to a four-year high. More

How about gardening or golfing at the mall?
The New York Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Malls, over the last 50 years, have gone from the community center in some cities to a relic of the way people once wanted to shop. While malls have faced problems in the past, the Internet is now pulling even more sales away from them. And as retailers crawl out of the worst recession since the advent of malls, many are realizing they are overbuilt and are closing locations at a fast clip. The result is near-record vacancy rates at malls of all kinds, both the big enclosed ones and the sprawling strips. S More

Ackman: In the future, going into a JCPenney store will be like going into an Apple store
Business Insider    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Bill Ackman, the CEO of Pershing Square Capital Management, was recently asked if he thought customers shopping at a JCPenney store in the future will have an experience reminiscent of going into an Apple store? "I think the answer is 'yes.' What I mean by that is not that it's going to be a beautiful glass box on Fifth Avenue. Although it will look a lot nicer than it does now," Ackman said at the Harbor Investment Conference in Manhattan, N.Y. More

The simple reason brick-and-mortar stores aren't dead
Business Insider    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Chris Bolte, vice president of Walmart Labs, discusses why brick-and-mortar retail stores aren't yet a thing of the past here at Business Insider's Social Commerce Summit. It boils down to one thing. When people want to buy something, it doesn't matter how retailers get it to them — they just want to be able to find it, and get it fast. More

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General growth FFO rises as tenant demand at malls increases
Bloomberg Businessweek    Share    Share on FacebookTwitterShare on LinkedinE-mail article
General Growth Properties Inc., the second-biggest U.S. shopping-mall owner, said funds from operations excluding some items rose in the fourth quarter as tenant demand for space in top-tier retail centers increased. The company's "core" FFO climbed to $279.8 million, or 29 cents a share, from $230.1 million, or 23 cents, a year earlier, the Chicago-based company said in a statement. More

Target announces Spring 2013 store openings in Calgary, Canada
Calgary Herald    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Zellers stores in Calgary, Canada, will start closing by summer as Target Corp. begins remodelling sites for announced 2013 openings. Target said that three city locations — the Forest Lawn Shopping Centre, Market Mall and Chinook Centre — will open in spring 2013. The company, which plans to open 125 to 135 stores in Canada, previously announced a Signal Hill store would open in summer 2013. More

Longchamp brings its retail elegance to Greenwich, NY
Danbury News Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Greenwich has long had a reputation for attracting high-end retailers, and it continues with the arrival of French luxury brand Longchamp. Located in a 1,200 square-foot space at 272 Greenwich Ave., the store's format was adapted from a new global concept designed by architect Eric Carlson and his Carbondale agency and inaugurated at La Maison Madison in New York in 2010. More

Retail boom in Alaska slows but new stores still coming
Alaska Journal of Commerce    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Alaska has experienced a huge retail market boom in recent years as several national brands set up shop here for the first time. That growth will continue, albeit more slowly, in the next few years. 2011 marked the latest year that several brands introducing themselves to the Alaska market. National brands like Apple, Aeropostale, Teavana, Bare Escentuals and most recently Olive Garden opened their first local stores and all in Anchorage. Olive Garden has already begun moving on a second location in south Anchorage. More

Urban Outfitters: Overall quarterly sales up 9 percent
Philadelphia Inquirer    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Offering early insight into how it fared during the critical holiday shopping season, Urban Outfitters Inc. said that sales at stores open for at least a year fell 1 percent while overall sales at the multi-brand retailer rose 9 percent for the quarter that ended Jan. 31. More

Whole Foods not starving for sales, earnings
Retailing Today    Share    Share on FacebookTwitterShare on LinkedinE-mail article
While food discounters may be thriving in this down economy, things aren't so bad at the other end of the spectrum. Whole Foods Market reported that sales for its first quarter ended Jan. 15 increased 13 percent to $3.4 billion, and comparable-store sales increased 8.7 percent. Identical-store sales, excluding six re-locations and two expansions, increased 8.2 percent, or 17.3 percent on a two-year stacked basis. The company also posted a whopping 33 percent increase in net income to $118.3 million. Diluted earnings per share increased 28 percent to 65 cents. More

Cleaning Services Group, Inc.

Cleaning Services Group, Inc. is a full-service building services company servicing Office Buildings, Grocery Chains, Cinemas/Theaters, Financial Institutions, Medical Facilities, Educational Facilities & Universities, Commercial Properties, Retail Store Chains, Restaurants, Speciality Facilities, National Accounts, and Distribution Centers.

Yum to trim ownership of Taco Bell, other US units
Los Angeles Business    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Yum! Brands Inc. says it will continue to sell company-owned U.S. restaurants to franchisees so that it can focus more on international markets. "Our philosophy is really pretty simple," CFO Rick Carucci said. "We reduce company ownership in highly penetrated or under-performing markets, and we increase exposure in emerging and under-penetrating markets" such as China, India, Russia, Africa, France and Germany. More

Bloomingdale's gears up for Chinese shoppers
Bloomberg    Share    Share on FacebookTwitterShare on LinkedinE-mail article
For the past decade, Michael Gould says he's watched with envy as a "stupefying"number of Chinese tourists lined up outside the doors of high-end boutiques in Paris, Rome, and other European cities. "We find it frustrating to see business going elsewhere," says the chief executive officer of Macy's Inc. Bloomingdale's chain. Luring more foreign shoppers to New York is more complicated than just spiffing up store windows, though. Post- Sept. 11 security policies mean some wealthy foreign shoppers have to wait months for travel visas to the U.S. More
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