Walmart revised its full-year guidance upward, after reporting a 3.2% same-store sales increase and a 41% jump in e-commerce sales in the US for the third quarter. Online grocery sales are driving e-commerce growth for the retailer, which now offers home delivery from more than 1,400 locations and click-and-collect services at more than 3,000 stores.
Amazon has opened its first Amazon 4-star store in the Chicago market in a former Sears space at the Oakbrook Center mall. It's the seventh location of the store concept, where shoppers can return items ordered on Amazon and shop for products rated with at least four stars or that are new, trending or top sellers.
ALDI is now offering same-day alcohol delivery through its partnership with Instacart, where state and local laws allow it. The retailer is celebrating by offering free delivery for new customers through December via a special holiday code.
Brooks Brothers is working with investment bank PJ Solomon to explore strategic options which could include a sale of the company by owner and CEO Claudio Del Vecchio, sources said. Del Vecchio has reportedly been considering a sale amid interest from several investment funds.
Startups Grabango and AiFi are creating autonomous checkout systems that will let smaller players compete with Amazon Go stores. Also, Walmart has been testing cashierless checkout systems, and its scan-and-go technology is operational at Sam's Club stores.
To cut down on holiday stress, more shoppers are planning to order their groceries online, according to a report from ServiceChannel. Half of online grocery shoppers say they will purchase online more than usual during the holidays, and 63% said they would be somewhat likely to order a fully prepared meal online.
Federal Housing Finance Agency Director Mark Calabria said initial public offerings from Fannie Mae and Freddie Mac could come in the next few years and said he expects the enterprises to exit government conservatorship by 2024. However, he noted that "I'm not going to force them out" if they are not ready within that timeline.
Brookfield Property Partners has acquired JPMorgan Chase's stake in four US retail centers, and JPMorgan and the New York State Teachers' Retirement System bought Brookfield's stake in another mall, sources say. The five malls were valued at $3.2 billion in the transaction, the sources say.
PS Business Parks has larger tenants in its nearly 28-million-square-foot portfolio, but the REIT caters to smaller businesses and has an average unit size of approximately 5,000 square feet. The company's success can be attributed in part to its careful selection of target markets.
US malls are in the midst of an evolution driven by changing consumer shopping habits, with retailers embracing smaller footprints and developers rethinking layouts. At Burlington Mall outside of Boston, for example, developers are turning a former Sears store into a streetscape with shops, restaurants and a park.