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...with its expansion in the Asian market. Same-store sales for H&M worldwide were down 2% in September, but overall sales were up 10%. The brand opened its first Asia stores in Shanghai in April 2007 and in Hong Kong in March 2008. In Tokyo, a 2,800 sq-ft full concept store in Shibuya and a shop in Shinjuku are slated to open next fall, helping keep the company's pace of expanding stores by 10% to 15% annually worldwide...
...pickup in slow sales anytime soon. He says he is seeing the weakest prices in years on the east end of Long Island, where Wall Streeters have traditionally bought their weekend homes. For example, last week a seller dropped the price on a five-bedroom, 6 1/2-bath, 7,000-sq.-ft. home, located on an acre of land, to just under $3.3 million, down $450,000 from its original asking price in July. "Owners are more motivated to sell than in past market downturns," says Hoffman...
...number of large financial firms, including UBS, have moved thousands of investment-banking and trading jobs to the city. Already, a proposed Ritz-Carlton hotel and convention center has been put on hold, and city officials are afraid a large financial firm that was looking to rent 10,000 sq. ft. downtown will pull out as well. "Clearly we will see some softening," says Malloy. "Although as a lower-cost alternative for the financial-services industry, we will probably not be as adversely affected as New York...
...much that in some instances, banks are willing to take less than one-third of a property's value just to staunch the flow of money being spent on taxes and condo fees for unoccupied units. For example, Zalewski the grave dancer is looking at purchasing a 1,800-sq.-ft condo with floor-to-ceiling windows overlooking the waterfront in a place just north of Miami. That unit sold to a speculator for $940,000 in 2006. The bank is asking $389,000 but will probably settle for $300,000, he says...
...starters, Aldi stores are typically just 10,000 sq. ft., far smaller than the 80,000-sq.-ft. stores grocers like Whole Foods have recently opened. The relatively small size has helped Aldi penetrate urban markets, where real estate is generally more expensive than in suburban locales, and also allowed the company to carve a niche in neighborhoods that supermarket chains neglect. Operating costs are as spare as the rest of the place. At any given time, there are fewer than five staffers inside an Aldi store. On a recent afternoon at a location on Chicago's North Side...