Puerto Rico’s retail sales rise for 6th consecutive month
January 28, 2021
Retail sales in Puerto Rico continued to rise during the months of October and November 2020, registering increases of 9.0% and 4.5%, respectively. The industry rebound has occurred to the extent that the economic reopening and prevailing health conditions related to the COVID-19 pandemic have allowed it. Total sales amounted to $2.8 billion in October, […]
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ASORE: COVID-19 slams Puerto Rico restaurant sales in ’20
January 27, 2021
Puerto Rico’s restaurant industry has taken a significant hit as a result of the COVID-19 pandemic, losing about $352 million from January to September 2020, down 23.6% from the same period in 2019, the Puerto Rico Restaurants Association revealed. The trade group known as ASORE commissioned research firm Inteligencia Económica to analyze the economic toll […]
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Godiva set to close all stores in US, Puerto Rico
January 25, 2021
Godiva announced it will shutter all of its 128 retail stores in North America, including the one located in Plaza Las Américas in Puerto Rico, by the end of the first quarter of 2021, accelerating a dramatic shift to online sales and through other retail partners. Additional details such as the total number of employees […]
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2nd Pokébar Hawaiian Kitchen opens in Hato Rey
January 19, 2021
The owners of the Pokébar Hawaiian Kitchen are marking the success of their small chain that got its start in 2019 in the Condado sector of San Juan, with the recent opening of a second restaurant in Hato Rey. This modern concept arose from an idea by Emmanuel Márquez and his brother Cristian Marquez. They […]
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Puerto Rican restaurant El Cilantrillo will open 3rd location in ’21 despite pandemic
January 4, 2021
Orlando, FL — Challenges like the COVID-19 pandemic has not prevented the expansion plans of El Cilantrillo restaurant, with a third location expected to open early in February in Orlando, this media outlet confirmed. Hiram Turull, owner and founder of El Cilantrillo Restaurant Inc., with two locations in Kissimmee and Orlando, announced his plans to […]
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Thrift shop owners have ‘big’ expectations for ’21
December 31, 2020
Following months battling with the COVID-19 pandemic, three thrift shop owners in Puerto Rico, have set their expectations high for a better 2021. For Jade Tavarez, Francheska Nazario and Mónica Oquendo the goal is to remain resilient during these tough times. Nazario, owner of the Closet Sustentable thrift shop in Bayamón, has been in the […]
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Simon Property Group completes $3.4B acquisition of Taubman Centers Inc.
December 30, 2020
Simon Property Group Inc. has completed its acquisition of an 80% ownership interest in the Taubman Realty Group Limited Partnership through a deal worth $3.4 billion. Simon owns two shopping centers in Puerto Rico, while Taubman owns one. Under the terms of the transaction, Simon, through its operating partnership, Simon Property Group, L.P., acquired all […]
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RVI sells Plaza Palma Real in Humacao for $50M
December 24, 2020
Retail Value Inc. closed on the sale of the Plaza Palma Real shopping center in Humacao on Dec. 22, for $50 million prior to closing costs, prorations and other closing adjustments, it announced. The buyer was undisclosed. The net proceeds were used to repay mortgage debt associated with RVI. Last year, the mall marked its […]
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Chick-fil-A confirms plans to enter Puerto Rico market with 10-15 restaurants
December 22, 2020
About a month after this media outlet broke the story about Chick-fi-A’s plans to enter the local market, the chicken restaurant confirmed it will open two restaurants in late 2021 or early 2022. The restaurants will be located in the metropolitan area, with the first restaurant likely to be in Bayamón. Each Chick-fil-A restaurant will […]
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Puerto Rican menswear retailer Clubman launches online store
December 18, 2020
Puerto Rican men’s clothing retailer Clubman unveiled its new hybrid concept that includes a virtual store and a new pick-up service at its flagship store in Santurce. The online store, which entailed a $25,000 investment to set up, features all of Clubman’s collections, from casual to formal. Shoppers can choose to pick-up their purchases at […]
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Restaurants urge Puerto Rico gov’t to approve industry incentives proposal
December 15, 2020
In the wake of the severe impact from local measures implemented to control the spread of the COVID-19 pandemic, the Puerto Rico Restaurants Association asked the government to consider and approve the proposal presented in October to create a new assistance or incentives program for the industry using CARES Act funds. “Certainly, the industry is […]
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Costco still holding out on offering online grocery sales, store pick-up option
December 14, 2020
While most retailers have jumped on the trend of offering customers the ability to buy groceries online and picking them up curbside or in-store, big box retailer Costco Wholesale is still not considering adding that option just yet. During a conference call to discuss its quarterly results, Richard Galanti, executive vice president and CFO for […]
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Walgreens rolls out curbside pickup service in 106 stores across Puerto Rico
December 4, 2020
As part of the reinvention of its customer loyalty program, Walgreens recently rolled out a fully-redesigned mobile app through which Puerto Rico customers can now buy and pick up their purchases at the store, curbside, or at the drive-thru window in as little as 30 minutes. Curbside pick-up at Walgreens is new to Puerto Rico, […]
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Retailers: A partial lockdown would be ‘catastrophic’ for economy
December 3, 2020
Reactions from representatives of Puerto Rico’s retail sector were quickly offered Wednesday in response to the possibility of a partial lockdown to fight the raging spread of the COVID-19 virus. In a nutshell, they agreed cutting back hours would be “catastrophic” for the island’s economy. In separate statements, the Puerto Rican Association of Shopping Centers, […]
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Entrepreneur opens 2nd Migas restaurant in Mayagüez
December 3, 2020
Franky Suárez-Caro, a 30-year-old entrepreneur announced the opening of a second location of its Migas restaurant on Route 2 in Mayagüez, for which he invested $100,000. The opening, he said, responds to “the constant and ongoing support from coffee lovers and diners from the southwest and across the island.” The new 1,300 square-foot casual dining […]
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