DMM Retail Industry e-News Issue #191

3 Retailers and the Strategies that Have Motley Fool Singing High Praise

The Motley Fool has some high praise for three national retail chains that are doing well during the COVID crisis. The business and investing advice website gave their thumbs-up to Target, Tractor Supply and RH. Of the latter, the Fool noted the company is making the most of people who have to stay at home. “The pandemic has made us more aware of furniture that needs updating, but we’ve seen most conventional furniture and home decor chains buckle under the opportunity. RH calls its stores ‘galleries’ instead of showrooms. It’s taking luxury to the point where it curates artisans and designers for the production of its pieces. It’s working,” said Motley Fool consumer specialist Rick Munarriz. He noted that Target’s “surge in business is coming from e-tail, but digital sales nearly tripling over the past year also includes online orders placed for in-store or curbside pickup.” He also said that Tractor Supply is well-positioned to take advantage of “a recreational farming boom taking place as folks with ample residential land start to take food supply shortages into their own hands.”

New Jersey’s American Dream Mega-mall Opens (Again)

The on-again, off-again, on-again, off-again saga of Triple Fives’s American Dream Mall in New Jersey (which began its life as Xanadu in 2003) is back on again. The mall re-opened last week with around 80 retail stores and several entertainment venues, albeit with COVID restrictions and safety precautions in place. The mall had a soft opening last fall and was supposed to open up in March this year, but the pandemic delayed that for another nearly six months. “You want to go somewhere where you feel safe. Our whole thing is, if we can get people to come in to buy tickets and come to experiences, then our shopping and food will flourish,” Mark Ghermezian, co-CEO of American Dream, told CNBC last month prior to the re-opening. The company’s Director of Attractions told WPIX-TV the staff is trained and prepared for a safe re-opening. NJ.com said 80-plus retailers are expected to be taking part in the re-opening, or soon thereafter.

Bed Bath & Beyond Benefits by Bourgeois in Bustling Boudoirs

Though the evening gown or dress shoes categories may be suffering, since more people are staying at home, they are apparently spending more to make their homes more habitable. Bed Bath & Beyond reaped the benefits of people who aren’t going out to the movies or going on vacations, and saw six percent growth at stores open for at least one year during the third quarter this year, compared with the same time period last year. In a CNN article posted on WTOP.com, BB&B CEO Mark Tritton said homes have now become the center of people’s lives. “During this unprecedented time…we are well-placed as customers spend more in their home and lifestyle,” he added.