After closing at a low of 287.87 on March 6, the Morgan Stanley REIT index has rallied in recent weeks. On April 17 — the day after General Growth Properties filed for bankruptcy — the index closed at 430.21, a 49.4 percent recovery from its low point.
J.Crew unveiled a new concept in Malibu, Calif. J.Crew-at-the-Beach features a color scheme meant to evoke the beach along with salt-air-weathered brass fixtures and sun-bleached floors made from reclaimed oak. As far as merchandise, the location hawks limited-edition surfboards, beach-themed garb and accessories and high-end merchandise from its regular offerings
British value-apparel retailer Topshop made its long-awaited U.S. debut, opening a 40,000-square-foot U.S. flagship in New York City on April 1 to large crowds and a healthy helping of pre-opening buzz. The store is bringing with it another British retailer — footwear seller Office — which plans to open a store-within-a-store at the flagship later this year.
Mexican retail chain Shasa also opened its first U.S. store. The apparel retailer opened a store at the First Colony Mall in Sugar Land, Texas. The company operates 64 stores in Mexico and hopes to open 100 locations in the U.S.
Silver Linings of the Month
A roundup of good news and notes from the past 30 days.