Costa Mesa, Ca.-based retailer Anna’s Linens will be opening its first three stores in Puerto Rico, two this year and another in 2013, through agreements with mall operator DDR Corp., the latter announced Tuesday.
Constructora Sambil, the Venezuelan developer behind the proposed $400 million mega-shopping center in Guaynabo, is hopeful it will be able to break ground on the project this year after the Puerto Rico Supreme Court denied a motion for reconsideration presented by Plaza Las Américas that sought to paralyze the mall’s construction.
Puerto Rico is lacking one fundamental element necessary for the retail industry to grow and welcome new players: move-in ready spaces large enough to fit the “big box” chains, Michael Kercheval, president of the International Council of Shopping Centers Inc. told News is my Business Monday.
The historic La Mallorquina restaurant in Old San Juan quietly shuttered its doors earlier this week, becoming the latest victim of a depressed economy that has brought down many historic eateries in the last five years.
After several months of waiting for a decision, the U.S. Bankruptcy Court in New York overseeing the Borders liquidation case granted Plaza Las Américas’ petition to retain control of the space the bookstore held at the Hato Rey mall prior to going out of business.
The first two Menchie’s frozen yogurt shops planned for Puerto Rico will open in San Patricio Plaza and Doramar Plaza next year, News is my Business confirmed Wednesday.
The controversy over whether Nutritional Assistance Program benefits should be expanded to include more fast-food restaurants escalated another notch Thursday when the Alliance for Adequate Nutrition supported its claim that it would be a mistake to do so by citing the U.S. Department of Agriculture’s recent opposition to the proposal.
Three popular eateries in the Isla Verde/Piñones area — Pepin’s Café & Tasca, Lupi’s Mexican Grill & Sports Cantina and the Waterfront Restaurant — are for sale, News is my Business has learned.
Puma Energy announced Thursday it has agreed to acquire Chevron’s fuel marketing and aviation businesses in Puerto Rico and the U.S. Virgin Islands. The financial terms of the deal were not disclosed.
The fourth location of the Jacksonville-based Firehouse Subs restaurant chain is officially opening for business on the second level of the San Patricio Plaza mall in Guaynabo today, keeping up an aggressive expansion that will extend well into 2012.
The Puerto Rico Restaurant Association expressed concern Tuesday to the closure of several restaurants in the past few weeks and urged government action to prevent further losses for the industry that could adversely affect the island’s economic development.
U.S. retail e-commerce spending for the first 25 days of the 2011 holiday season that got its start Nov. 1 has reached $12.7 billion, marking a 15 percent increase versus the same period last year, according to comScore, a leader in measuring the digital world, said Sunday.
Just two days before the biggest shopping weekend of the year, Puerto Rico Trade predicted Tuesday that retail sales will increase by 3.3 percent during the Christmas season, if the pattern in local consumer purchases maintains the same growth rate registered in the period ended in September 2011, which was $2.9 million.
Some 87 retailers and wholesalers doing business in Puerto Rico that were sued in September for selling counterfeit Romero Britto items are facing what could be significant finds for not coming forward to negotiate, the lead attorney in the pop artist’s lawsuit, Dora Peñagarícano, told News is my Business.
Indiana-based retailer Shoe Carnival announced Thursday its plans to break into the Puerto Rico market next year through the opening of four new stores.
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA