While many retailers continue to struggle with lackluster sales, at least we've come to a point where some are thinking about expansion. Children's apparel seller Gymboree, for instance, has doubled the number of stores planned for its new off-shoot Crazy 8. Meanwhile, the FDIC is doing its best towith bad assets on banks' balance sheets: the agency plans to auction off $1 billion in residential and commercial properties, though the banks are not happy about it. For more on this and other news about retail and retail real estate, follow the links below:
- Our sister publication NREI looks at FDIC's efforts to work with the banks to resolve bad CRE loans.
- The situation continues to cause concern in the banking industry, reports DS News.com.
- Gymboree plans to open up to 100 Crazy 8 stores in 2010, according to the San Francisco Business Times.
- Borders is about to close on financing to pay down a Pershing Square loan, according to Bloomberg.
- Microsoft gets ready to open more stores, reports ZDNet.
- The Los Angeles Times reports that American Apparel CEO Dov Charney disagrees with analysts' assessment of the chain's performance.
- Swoozie's, an Atlanta-based chain with 43 locations, is going out of business, according to the Nashville Business Journal.
- A story in the San Francisco Chronicle says that luxury consumers are beginning to spend again.