Retail: 75
1.21%
Retail: 188
0.04%
Mon, Aug 28, 2017
Vol 1, Issue No. 33

MLB Plays Ball with NYC Flagship Store

Major League Baseball will open a two-level, 17,000-sq.-ft. flagship store on the Avenue of the Americas next summer. Global planning, sales and hospitality company Legends, owned by the New York Yankees and Dallas Cowboys, will operate the store that will offer a wide assortment of officially licensed products from a full range of MLB licensees, market authenticated game-used memorabilia, sell unique New York City products and provide customization options.

It’s unclear whether the New York City storefront will serve as a model for the league to open additional flagships internationally, including Japan. Once the MLB Store is open at 1271 Avenue of the Americas, the Big Apple will have retail stores from three professional sports leagues (The NBA Store at 545 Fifth Ave. and The NHL Store at 1185 Sixth Avenue). The NFL closed a Times Square attraction, the NFL Experience, after 10 months in Sept. 2018.

In other retail news,

  • Stadium Goods, which operates a New York City store at 47 Howard Street but reportedly generates 95 percent of all revenues from online sales, has opened a three-month, shop-in-shop inside the Fred Segal store in West Hollywood, CA. The area will be every few weeks before closing in mid-January 2020. Publicly-traded Farfetch, which acquired Stadium Goods for $250 million in cash and stock in Dec. 2018, is reportedly gearing up for a larger-scale retail strategy for the banner that will include pop-up stores in various cities worldwide.
  • Hudson’s Bay Company entered a definitive agreement with a group of its shareholders to go private at $10.30 a share. The Toronto and New York-based company previously announced it was selling its Lord + Taylor operations to subscription apparel company Le Tote for $100 million.
  • September retail sales were up 4.5 percent year-over-year on an unadjusted basis, but down 0.1 percent seasonally adjusted from August, according to monthly data from the U.S. Census Bureau. Sporting goods store sales were flat year-over-year as y-o-y sales in clothing/clothing accessory stores declined 0.7 percent.

The National Retail Federation suggested the sales pullback from August could be related to fears over U.S.-China tensions. “…September is a tricky month to measure because of seasonal factors like the end of summer and back-to-school spending, and this year’s early Labor Day may have moved up some spending into the last days of August,” Jack Kleinhenz, the trade group’s chief economist, said in a statement.