FangKC wrote: ↑Wed Dec 07, 2022 8:44 pm
Does Hall's even make a profit anymore? If Crown Center would shut it down and rent that space to Target, it would allow a bigger Target store and there would be no concern over parking.
Halls on the Plaza was a known moneymaker. I think the fact that the Crown Center store was downsized for a third time, the second time after the two stores were combined, says a lot about how it performs. Saks and Nordstrom don't/didn't do well here for some reason either. I posted in a department store Facebook group a few weeks ago and the former head of VM at the Oak Park Nordstrom said that not only did the store lose money even with the incentives and cheap rent the first 5 years it was open, but it was so bad that corporate started making permanent cuts at the store the first year it was open and that it made corporate rethink opening such large stores in untested waters. He said it was the opposite of Broomfield, CO and downtown Indy where the stores initially boomed and then dipped hard, rather KC started off terribly and then only picked up steam around the time he left and Saks threw in the towel on the plaza. I guess Copaken kept assuring Nordstrom that they were working to bring in more high-end stores to the mall to try and draw out the housewives who were only ever venturing to the mall to visit Dillard's, but they never really followed through on their end of the bargain. Jacobson's also flopped very fast in Leawood near the end of the companies life and I've been told from another reliable source that Von Maur does ok here, but that the KC and St. Louis branches pull in less than Wichita, Des Moines, and Omaha do and that Von Maur isn't exactly happy about what Corbin Park was sold to them as being when they signed on VS what it became. Interestingly enough, when Scheel's opens in Wichita the two stores will now co-anchor five retail developments in; Towne East Square, Corbin Park, Jordan Creek Town Center, South Pointe Pavilions, and Eden Prairie Center.
Von Maur is just 90s Nordstrom-lite down to the piano and has a very similar interior design (the Wichita store especially resembles the Oak Park Nordstrom), so I don't know why they picked JOCO after watching Nordstrom flounder. Anchoring Zona Rosa or Summit Fair would have been better options IMO. They (Von Maur) took over several Jacobson's in some of their better markets up in Michigan, but the Leawood Jacobson's was one of the smallest in the chain and Macy's feels crammed in there. Another reliable tidbit I've been told was that May Department stores originally ran the Leawood Jones Store on a similar tier to the upscale Foley's at Park Meadows and Cherry Creek in Denver and upscale Famous-Barr at the Galleria in St. Louis, but that it didn't last more than 2-3 years because the local populous only utilized the store for its jewelry department and bridal registry.
In a super off-topic bit, I've also been told that the Galleria Nordstom in St. Louis has went from being the mall's top draw five years ago to not performing so hot at all and that's why Nordstrom heavily invested in the West County Store right before COVID. I'm buds with a recently departed leasing agent for Brookfield who handled the three Missouri malls and they were pressured by corporate to move/consolidate several higher-end leases between the Galleria and Plaza Frontenac over to Frontenac (whose Neiman Marcus was spared closure despite being named one of the weakest stores in bankruptcy) and that they were having problems getting stores like Dillard's and even American Eagle to invest in their Galleria locations and that they had no bites on the Galleria end from national chains to fill vacancies left by RH, Papyrus, Janie & Jack, etc. CBL, probably the worst of the four big mall owners, has done a decent job of retaining stores at Oak Park as of late (especially after it lost Swarovski, Yankee Candle, Subway, Banana Republic, Justice, Disney. Foot Action, Lady Foot Locker, and The Walking Company in quick succession) and has filled the old Wet Seal, Gordon's, and Limited stores with decent quality tenants like EntertainMart (Vintage Stock), Tradehome, Versona, and Riddle's.It may be a sad excuse for being our "best mall" compared to similar metros, or even Des Moines, but even some of the stores from rapidly dying brands like Abercrombie were packing them in last weekend at Oak Park!