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倒闭和销售疲软为Outlets 敲响了警钟

TOUGH ALL OVER 步履艰难
Bankruptcies and soft sales taking toll on outlet sector
倒闭和销售疲软为Outlets 敲响了警钟

    By Tom Kirwan Despite the industry’s woes, Woodbury Common Premium Outlets, outside New York City,and other top-tier factory outlet centers continue to thrive.

    尽管整个业态不妙,但纽约市郊的Woodbury Common Premium Outlets 和其它顶级factoryoutlet centers 持续繁荣。

    Though it’s bankruptcies like that of discounter Kmart Corp. that capture the limelight, there has been plenty of distress in the approximately $14 billion U.S. outlet retail business too, with retailers going out of business and centers shutting down.

    尽管它像K-mart 折扣公司的倒闭那样非常引人注目,在美国约有140 亿的Outlets 的零售业务遇到许多困难以至关闭和出局。

    “It’s the worst I’ve ever seen it,” said one industry developer who declined to be identified. “It’s just not getting any better.”

    “这是我经历过最差的。”一个不愿透露姓名的业内人士说。“没有好转的迹象。”

    Only three outlet projects opened in 2001, compared to the all-time high of 43 in 1989, according to Value Retail News, the factory outlet industry magazine published by ICSC. Industry consolidation, sluggish sales, cookie-cutter tenant mixes, stiff competition and a public perception that the discounts are not worth the drive have all contributed to the tempering of the outlet industry’s once-phenomenal growth. According to VRN, the number of outlet centers peaked at 329 projects in 1996, and have fallen to 261 in 2001.

    按照VRN 资料——由ICSC 出版的工厂直销零售行业杂志:在2001 年仅新开了三个Outlet。

    而在1989 年,新开的outlet 达到历史最多的43 家。产业兼并、销售减速、小租户混杂、残酷的竞争和消费者观念(打折得到的实惠还不及车费) 都对曾经高速增长的outlet 行业带来了打击。按上述资料,2001 年Outlet 的数量已从1996 年329 个的峰值降落到261 个。

    The outlet retail niche, which accounts for roughly 1 percent of total retail sales, has been feeling the sting of bankruptcy-induced chain closings since the late 1990s. Soft apparel sales trends aggravated by the tepid economy, a drop in international tourism and worries about terrorism are taking their toll on the weaker outlet industry retailers, insiders say.

    内部人士说:Outlet 原本在零售业中占的比重并不大,粗略估计约占总零售销售的1%。自上世纪九十年代后期以来,一连串的关闭已能感觉到引发倒闭的伤痛。由于经济减速带来的服饰销售下降、对恐怖主义的担忧和旅游客的下降,使已经开始衰退的Outlet 雪上加霜。

    In the value industry, the liquidation of well-known outlet chains underscores the seriousness of the situation. Among the largest recent examples are Bugle Boy and Lechters’ Famous Brands Housewares, which together shuttered more than 250 outlet stores last year. Bugle Boy alone was leasing 936,000 square feet of gross leasable area at the time it closed its units.

    在廉价行业中,一些著名Outlet 连锁店的清理遮掩了形势的严峻性。最近其中最大的案例是Bugle Boy 和Lechters’ Famous Brands Housewares。去年他们合起来共关闭了250 个Outlet 商店。单Bugle Boy 就关了936,000 平方英尺GLA 的出租单元。

    But Bugle Boy and Famous Brands are only two in a long line of outlet chains that have closed in recent years. Others include Britches, Hero Group, Leather Loft, Mondi and Prestige Fragrance.

    但是,Bugle Boy 和Famous Brands 仅是近年来已关闭的Outlet 连锁连锁店长长名单中的两个。其它包括Britches, Hero Group, Leather Loft, Mondi Prestige Fragrance 等。

    Tanger Factory Outlet Centers, with its 29 outlet centers, is one of the industry’s top players,recently reported that 10 of its tenants had gone into bankruptcy in 2001, representing 230,000 square feet in the developer’s portfolio.

    有29 个Outlet 中心的Tanger Factory Outlet Centers 是行业领导者之一。最近报道,它的租赁开发商230,000 平方英尺面积的十个承租户已在2001 年倒闭。

    The only beneficiaries of this otherwise gloomy picture appear to be the stronger survivors. The average outlet center grew to 211,715 square feet in 2001, from 123,710 square feet in 1991,according to VRN. Many owners are finding themselves forced to reposition their centers or lose tenants and sales to newer, better-located outlet centers that have superior stores.

    如此令人沮丧的景象中得益的仅是幸存者将变得更强。按VRN 资料,Outlet center 平均面积从1991 年123,710 平方英尺发展至2001 年211,715 英尺。许多业主着力于重新定位他们的中心,不然的话将丢失承租户和销售额给更新,更好地段并拥有更强租户(品牌)的Outlet 中心。

    Outlet chain downsizings are also taking their toll. American Outpost, which emerged from bankruptcy protection more than a year ago with new management and new investors, saw its outlet store count reduced from a peak of about 120 units to 15. Welcome Home, which went into Chapter 11 in 1999, came out of bankruptcy in 2000 after slimming down to 120 stores from about 220. And London Fog emerged from bankruptcy in May of last year after shedding all but 35 of its 120 units. Today it operates with 38 outlet stores.

    Outlet 连锁缩减规模也是敲响了警钟。American Outpost 在申请破产保护并更换管理层和投资者一年多后走出了破产保护,Outlet 商店的数量从约120 个单元的峰值降低为15 个。1999 年进入破产保护的Welcome Home 从约220 个缩减为约120 个商店后于2000 年走出了破产保护。LondonFog 将120 个商店缩减到35 个后,在去年5 月走出了破产保护,现在它仅有38 个商店在运营。

    Another recent example is Chicago-based jewelry chain Ultra Stores, which filed for Chapter 11 in March 2001 and emerged from bankruptcy this year. Ultra Stores ultimately closed 37 units and cut overhead costs by 30 percent during bankruptcy, the company said. After an additional five stores close this year, it will have 106 units. Though still operating outlet units, the retailer says it is increasingly shifting to more-conventional jewelry stores in downtown shopping districts.

    另一个最近的例子是2001 年3 月申请破产保护的芝加哥的珠宝连锁Ultra Stores 在今年走出了破产保护。公司宣称:Ultra Stores 在破产保护期最终关闭37 个单元,削减管理费用30%。而后,另外5 个店也在今年关闭,它还剩106 个单元。零售商说:虽然Outlet 商店仍开着,但将把重心放在开在市中心购物区更传统的珠宝店。

    Such store closings leave a smaller pool of stores from which outlet center developers can stock their projects. Some leasing reps are considering alternative tenants as the outlet universe diminishes. Strong candidates include manufacturers that are either not in the business or have only one or two outlets. Among other options are full-price retailers, lifestyle-driven chains and eateries. Regional retail players with a strong brand are also being tapped.

    由于那些商店缩减规模,Outlet 发展商可选择加盟品牌日益减少。由于选择范围的缩小,某些业主将选择一些其他类型的承租人。首选的承租人包括没有的或仅在1-2 个Outlet 布点的制造商。其次是足价零售商、生活方式推动的连锁店和餐馆。具有强势品牌的地区性零售商也被选择。

    Though a Chapter 11 filing doesn’t always result in store closings, it usually does. Typically, outlet retailers chasing solvency spend more time closing troubled stores than opening new ones. A recent example is Warrendale, Pa.-based Pennsylvania Fashions, parent of Rue 21 and 9.99 Stockroom. Eight days after its Feb. 4 filing under Chapter 11, Pennsylvania Fashions hired a liquidation company that announced it was closing 74 of the retailer’s 247 stores. Of the stores being liquidated, 51 were in regional malls and 23 occupied outlet centers and other value-oriented projects.

    通常总是导致商店关门。一般追逐偿付能力的Outlet 零售商倾向于关闭有麻烦的门店而不是开新门店。最近的一个例子是Warrendale、位于宾州的Pennsylvania Fashions、Rue 21 和9.99 Stockroom 的母公司. Eight days 在2 月4 日申请破产保护后,Pennsylvania Fashions 雇佣一个清算公司,公布有74 个零售商和247 个商店被关闭,正在被清算关闭的商店51 个在地区摩尔,23个在Outlet 中心和其他折扣店的项目。

    Pennsylvania Fashions is in good company. The Warnaco Group, which filed for Chapter 11 in mid-2001, has closed roughly 50 outlet stores in about a year, though in late March the company was still operating 51 units. Warnaco trades under the names Calvin Klein Outlet Stores, Chaps by Ralph Lauren Outlet Stores, Olga Warner Outlet Stores and Warnaco Outlet Stores. Warnaco’s outlet division totaled more than 100 stores at the end of 2001.

    Pennsylvania Fashions 是在一个好的公司中。2001 年申请破产保护的The Warnaco Group。它虽然在去年3 月底仍然运营了51 个单元,但大约在一年的时间内关闭了约50 个Outlet 商店。Warnaco 交易了Calvin Klein Outlet 店、Chaps by Ralph Lauren Outlet 店、 Olga Warner Outlet 店和Warnaco Outlet 店。Warnaco’s outlet 在2001 年末拥有了总数超过100 个商店。

    Another high-profile player, Secaucus, N.J.-based Kasper A.S.L., which filed for bankruptcy protection in February, says it closed 28 of its outlet stores during the year ended March 31. The company operates outlet stores under the Kasper and Anne Klein banners.

    另一个表现是在2 月申请破产保护的Secaucus, N.J.-based Kasper A.S.L.宣称至3 月31 日年度关闭了28 个Outlet 商店,公司以Kasper 和Anne Klein 名义经营Outlet 商店。Tanger Factory Outlets has 29 centers, including this one in Riverhead, N.Y.Tanger Factory Outlets 有29 个中心,包括在纽约Riverhead 的那一个。

    Meanwhile, mainstay outlet tenants, including Casual Male Outlet, Donna Karan, Jones New York,Old Navy and Polo Ralph Lauren, have within the past two years or so either reduced their store counts or capped the number of stores in their outlet chains. Of this group, only Casual Male was in bankruptcy, having sold its assets to Needham, Mass.-based retailer Designs in May.

    在Outlet 起中流砥柱作用的承租户包括Casual Male Outlet、Donna Karan、 Jones New York、Old Navy 和Polo Ralph Lauren。在过去的两年中要么减少他们商店的数目,要么给他们在Outlet连锁店数目封顶。在这些集团中,仅Casual Male 破产,将资产卖给Needham, 麻省的零售商Designs in May。

    One outlet store leasing consultant described something all too typical these days: a client chainthat has gone into a “wait and see mode,” putting previously planned growth on the back burner.This retailer, the consultant said, “has been spooked by the events of Sept. 11.” For now, anyway,that chain won’t be growing.

    一个Outlet 租赁商店的顾问描述了近来那些典型的事情:连锁顾客已进入到一个“等待和观察的模式”搁置先前的成长计划。这个零售商顾问说:“零售商已被9.11 事件惊吓”,以至于目前连锁无论如何不可能再增长。

    The combined distress of so many retailers has left its mark on the industry. Chelsea Property Group is the only developer that is actively acquiring existing centers and developing new ones.(In June the Roseland, N.J.-based company announced a joint venture to build Las Vegas Premium Outlets. Chelsea and Baltimore-based Prime Retail remain the largest owners by far,with 12.1 million square feet and 11.9 million square feet of retail space, respectively. Tanger Factory Outlet Centers, which ranks third in size, has 5.1 million square feet.

    基于众多的忧虑,很多零售商已离开了他们的业态。Chelsea Property Group 是仅有一个开发商仍然在积极收购现有中心并且开发新的。 在6 月,Chelsea Property Group 同新泽西州的Roseland公司公布合资建立Las Vegas Premium Outlets。Chelsea和位于Baltimore 的Prime Retail所有者保持目前最大业主地位。它们分别拥有1210 万平方英尺和1190 万平方英尺的零售空间。

    Tanger Factory Outlet Centers 以大小排列与第三,有510 万平方英尺。。

    But even for those companies whose centers are closing, there is some consolation: Many former outlet centers are leading new lives as conventional shopping centers. Things could be worse.

    但是,正在关闭中心的那些公司令人欣慰的是:许多以前的Outlet 中心正转型成常规的购物中心。事态的发展可能更坏。

    Tom Kirwan is a senior editor with Value Retail News.

    Tom Kirwan 是VRN 的一个高级编辑2006.1.22.译

   

文章为作者独立观点,不代表联商专栏立场。

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