As it typical at this time of year, economists have been keeping a keen eye on retail sales across the nation and making forecasts about just how well they believe retailers will fare during the final weeks of 2013. Jitters abound because the calendar puts Thanksgiving on Nov. 28, allowing businesses less than a month to capture the post-turkey-day dollars, which can account for as much as 40% of their annual revenue.
Reports are mixed. Morgan Stanley predicts the worst holiday season since 2008, but the International Council of Shopping Centers and the National Retail Federation both say they expect to see an increase in sales this year.
Here in Glendale, it appears retailers are well-positioned for the season. Among recent developments, upscale retailer Bloomingdale's opened Friday, bringing its glamorous goods to the Galleria, where steady improvements have been taking place over the past year. Also, in September, Kimora Lee Simmons gave her online site, JustFab, a storefront home at the Galleria.
A short stroll away, comparison shoppers can take in the offerings at the new location of discounter Marshalls in the glass-encased building at the corner of Broadway and Brand that previously housed a Borders bookstore. Cypress Equities, a Dallas investment firm, this summer purchased the Glendale Marketplace and announced plans to extend its shopping environment on Brand to better take advantage of the foot traffic there.
And that's not all: This fall, Nordstrom completed its move from the Galleria to the Americana at Brand, becoming that shopping mecca's largest tenant.
So, despite the popularity of e-commerce, the purveyors of merchandise are banking on brick-and-mortar stores in Glendale. We hope they buck any downward trends, and that their investments here pay off big for everyone involved.