April 2004 Cover Story Features

Cover Story

When in Rome, do as the Romans - Go outlet shopping!
Seven outlet projects have opened in Italy in the last three years - two in the Rome market - proving that this concept has been well-embraced by fashion-conscious Italians. VRN talks with executives of four developers - McArthurGlenn, Value Retail, AWG and Sandretto - about their Italian centers and why the locals have greeted outlets so warmly.

Features

Primo Opening
Chicago Premium Outlets, located 45 minutes west of its namesake in Aurora, ILL., releases its tenant list as it prepares to open this month. The upscale center is shaping up to be the nation's only outlet project open in 2004.

Selling Spree
A trio of independently owned outlet centers - including top performer Rockvale Square Outlets in Lancaster, Pa. - are sold. The other two centers, both smaller projects in California, share a common thread with Rockvale as all rely heavily on tourism.

Putting Edge
A family's boring visit to a traditional miniature golf course in the early '90s lead a Canadian businessman to try something different. The result: Putting Edge, an enclosed, glow-in-the-dark miniature golf complex that is opening a growing number of its eye-popping units in the United States.

Genesco Puts a Lid On It
The chief executive of closely held Hat World expects plenty of good things from the headgear retailer's pending acquisition by shoe retailer Genesco, including accelerated store growth in outlet retail projects. The $165 million deal should close by the end of April.

New Chief at VFFO
Outlet industry mainstay VF Factory Outlet has a new president following the departure of Prakash Bhatt, who retired from the company early this year after more than three decades at VF.

Chelsea, Tanger Toast Stellar '03
The outlet industry's tow leading real estate investments trusts release annual reports showing strong performances highlighted by expansion - including new properties, additions and acquisitions - translated into strong resultsin 2003.

Year-End Outlet Store Sales
The latest ORMA Sales Index reports underscore what a challenging year 2003 was for outlet retail industry.