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.
More Quotes from Neil Stern:
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.Neil Stern
All the merchandise in Five Below is under 5, whether it's toys, sporting goods, novelty items or accessories, ... This is a retail concept that can potentially grow very, very fast.
Neil Stern
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.
Neil Stern
If anybody can pull this off, it's Federated and it's Terry Lundgren and his leadership team.
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The volume is there, but the chain stores have to adapt their practices.
Neil Stern
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.
Neil Stern
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