Consumers are keeping a tighter grip on their checkbooks these days, but millions of others just can’t control themselves. Nearly 9% of adults may be compulsive buyers, according to a study conducted by University of Richmond marketing professors Nancy Ridgway and Monika Kukar-Kinney. UR professor Kent B. Monroe, also of the University of Illinois at… Read more »
Luxury retailers may be in for a cold winter. After witnessing a decline in sales at the tail end of the summer, luxury brands like Saks, Nordstrom and Tiffany & Co. are bracing for what could be an even weaker holiday season. Local high-end retailers and other business operators say business is holding steady.
A light rain didn’t put a damper on turnout for the highly-anticipated opening of the new Trader Joe’s store in the Short Pump Station shopping center. The colorful, Hawaiian-themed store opened Friday morning to a huge crowd. During our visit around 10:00 a.m. Friday, the checkout lines were backed up well into the aisles.
American retailers are cutting back on the holiday hiring market, according to a survey from Richmond-based job-seekers’ website SnagAJob.com. The number of jobs is going down, while the number of people applying for jobs is going up. That means increased competition for fewer spots. And that means harder work for job seekers, who will have… Read more »
Vacancy in Carytown seems to be declining. It’s been three months since we walked through Carytown to figure out how many unoccupied buildings lined the streets. At the time, we counted 22 empty buildings, or about 13% of the storefronts there. (Note, our figures are not calculated using square footage.) There are currently 17 empty… Read more »
An Ashland official is excited about new developments like Bass Pro and a proposed outlet center in Hanover County. Zach Robbins, Acting Director for the Department of Planning & Community Development in the Town of Ashland, had a few thoughts about a story BizSense ran last week on Ashland’s retail scene.
A strange shift for the “Center of the Universe,” as the village is sometimes called, to a retail hotspot and thriving business district. Just a few years back, residents of the Hanover County town were fighting tooth and nail against an incoming Wal-Mart store, a brawl which ended up becoming the subject of a PBS… Read more »
Western Henrico’s Cavanna Pasta will cease operating a stand-alone pasta shop by the end of the year. Jonny Cavanna, who has lost money almost every month on the pasta store since opening in the summer of 2004, said he is looking for an industrial location where he can continue to prepare food but avoid the… Read more »
Starting in November, residents of Church Hill will have a bike shop in their backyard. Cyclus Bike Shop will open at 2709 East Marshall Street, according to the shop’s Myspace page. The shop will carry new and used bikes and will sell parts and accessories in addition to repair services. According to the Church Hill… Read more »
Joey Woodfin doesn’t like to gloat during tough economic times. But he’s in the sort of industry that does well in a down market – selling a essential product for cheaper than anyone else. And business seems to be booming.