Retail group pulls back on claim organized retail crime accounts for nearly half of inventory loss
The National Retail Federation has revised a report released in April that pulls back the claim that organized retail crime accounts for nearly half of overall industry shrink, which measures overall loss in inventory, including theft.
Clinton Townshipโs Partridge Creek Mall to be sold in receivership despite steady traffic
Partridge Creek Mall was originally developed by Taubman and opened to a lot of fanfare in 2007. Designed to be an upscale outdoor shopping experience that was dog-friendly, a Nordstrom and a Parisian anchored it. Fast forward to 2014, the mall was sold at the height of the market.
Taylor man charged after police say he had gun at Somerset Collection
TROY, Mich. โ A Taylor man was arrested and charged after a report of a possible assault involving a gun at the Somerset Collection in Troy. Michael Deonte James, 21, of Taylor, has been charged with carrying a concealed weapon, felony firearm and possession of a firearm. Troy police responded at about 4:15 p.m. on Oct. 2 to a possible assault in the Nordstrom store. James was arraigned on Oct. 3 and was issued a $50,000 cash/surety bond. Police are still investigating the incident at Somerset Collection.
Walmart and Nordstrom are building stores that don't sell anything
So Walmart and Nordstrom are building physical stores that don't actually sell anything. Earlier this month, Walmart opened Walmart Pickup Point, a 40,000 square-foot prototype store outside of Chicago in Lincolnwood, Illinois, to cater to customers' online pickups and deliveries. The new Walmart locations share similarities with Nordstrom Local, a concept Nordstrom first introduced in Los Angeles in 2017. Buy online, pickup in store growsRetailers have been successfully expanding online pickup options in their stores in recent years. For Nordstrom, customers who visit Local stores spend two and a half times more on average than regular customers, according to the company.
Retailers among 2019's worst stocks
Spencer Platt/Getty Images(CNN) - Looking for more proof of just how hard it is for traditional retailers to compete in a world that's increasingly dominated by Amazon? Nordstrom and Gap are the worst-performing stocks in the S&P 500 so far this year. Several other big brick-and-mortar retailers are among the market's biggest losers of the first half of 2019. All of those companies have recorded sluggish sales and profits as consumers increasingly shop online. And Home Depot, which faces less competition from Amazon and online shopping in general, is up more than 20%.
Nordstrom to close at Partridge Creek location in Clinton Township
CLINTON TOWNSHIP, Mich. - Upscale retailer Nordstrom confirms it's closing its Partridge Creek location, and some shoppers aren't happy about the decision. Nordstrom is the second anchor tenant leaving the mall in Clinton Township. Real estate developers have been expecting a closure for more than a year. Nordstrom has been slowly closing underperforming stores. The store at the Partridge Creek location is expected to close Sept. 13.
Watch Local 4 News at 11 -- June 26, 2019
DETROIT - Here's what is coming up on Local 4 News at 11:Face recognitionA controversial new technology couldh elp police on the streets. Democratic debatesMiami hosted the first Democratic presidential debate Wednesday night. Baseball gameThe Wolverine's came up one win short at the College World Series. Nordstrom closingUpscale retailer Nordstrom confirms it's closing it's partridge creek location. Copyright 2019 by WDIV ClickOnDetroit - All rights reserved.