Neil Stern
Neil Stern
aspect attractive buying cash estate generating including land multiple owned reasons spin value
An attractive aspect of this for them is that Albertson's owned a lot of the land under their stores. But there could be multiple reasons for buying these stores, including generating cash flow, the value of the real estate or to spin them off to another buyer.
anchors came created defined department estate gave marshall reason shop store
Tommy Hilfiger came in and created 300 shops. Now every one of the department store anchors has a Tommy shop and a Liz shop. It gave vendors more control, and it also was a real estate grab. There was no real defined reason to go to Marshall Field's because it has X, X and X that Carson's doesn't have.
buy challenge losing profitable stores themselves today
What they've done is buy themselves some time. The challenge is, how long does it last? If you're still losing sales, those stores that are profitable today won't be profitable tomorrow.
anybody leadership pull terry
If anybody can pull this off, it's Federated and it's Terry Lundgren and his leadership team.
bad concern losing perspective retail sales viable
Financially, it's not a bad quarter. The concern from a retail perspective is that top-line sales number. It's not where you want to be as an ongoing, viable retailer. ... Long-term, you don't want to be losing customers.
certainly generate looking profit traffic
Every retailer is looking to generate more trips. It's certainly not a profit driver; it's being used as a traffic driver.
acquired country far finding gone successful
What they are finding so far internationally, is that when they have gone into a country and acquired or partnered with a successful established retailer they have done very well.
bigger designed houses major people power room sell store tools
Sears is a store that is designed for suburbia. They sell a lot of things like major appliances, barbecues and power tools that intrinsically go to people with bigger houses and garages and room to put this stuff.
bigger designed houses major people power room sell store tools
Sears is a store that is designed for suburbia, ... They sell a lot of things like major appliances, barbecues and power tools that intrinsically go to people with bigger houses and garages and room to put this stuff.
proven successful
CVS has proven to be very successful in doing acquisitions.
appeal available believe currently estate ethnic home locations mostly positive stores strip type
Anna's Linen stores are mostly in what are called 'B' type locations or strip malls. We think that there's a lot of real estate currently available in that format. The other positive for the retailer is its appeal to ethnic communities, which we believe are underserved in the value-priced home furnishings arena.
border expanding northern sort suburbs western
They sort of crept over the border from the north, and are now sort of expanding into the northern suburbs and western suburbs.
amount california difficult estate fair ground including northern owns percent
Albertson's owns the ground under about 60 percent of their stores, including a fair amount in California. With Northern California real estate so difficult to come by, that has its own value.
major national
In one deal, it makes Supervalu a major national player.