Monday, May 04, 2009
Anybody want a do-over on the NorthPark expansion?
Have you noticed that the mall's Bailey Banks & Biddle now sells only closeout merchandise? They don't take checks. They don't allow returns. It feels so outlet store-ish. I guess, given the current retailing climate, that's better than a vacant space but still. It's NorthPark! Maybe they should have kept that old El Fenix and stayed little. And safe.
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I was at NorthPark today (getting my MAC fix) and noticed there's more vacant spaces than I had realized. While a few were stores relocating (cheaper spaces?), the others were just blanked-off spaces.
I'm just waiting for a Burlington Coat Factory to show up. That's my sign a mall is heading right down the slope...
Oh my gosh yes-- a BCF is the fatal blow, isn't it? After I wrote this, I began to wonder if NorthPark's expansion (and the economy) made things nearly impossible for a store like Bailey Banks & Biddle. They compete against more retailers now and they're caught between the ultra high-end places like David Yurman or Bulgari and moderate stores like Gordon's. Maybe the middle is the toughest place to be?
BCF is like the Mark of the Devil-once you get one, everyone counts the days remaining...
Right now, it really does suck to e in the middle. The high-end will do alright; there are still enough wealthy people and status-conscious types out there. And the lower-end looks a lot better when you're worried about your financial stability. Which puts the mid-level retailers in a whole world of hurt, until things finally bottom out.
Had a horrible experience at BB&B tonight. Will never trade with them again. Northpark expansion was a huge mistake. The movie theater has brought in quite a collection of riff-raff. No thanks!!!
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