Merchant Mix Is King At Roosevelt Field Mall

Garden City NY

07 December, 2021

11:46 AM

Description

GARDEN CITY, NY — Roosevelt Field has a competitive strategy centered on tenant diversity, showcasing a directory tailored to attract a wide-ranging customer base. The Nassau County shopping center features five department stores, the most of any mall on Long Island: Bloomingdale's, JCPenny, Macy's, Neiman Marcus, and Nordstrom. There is also a multi-level Dick's Sporting Goods and an AMC movie theater. Management at Simon Property Group, the real estate corporation that owns Roosevelt Field, points to the department stores at its Class A-rated mall in Garden City as reflective of the merchant mix. "I always say that when you go from having a JCPenny on your property to having a Neiman Marcus, you really truly cover the spectrum," said Nancy Gilbert, director of marketing at Roosevelt Field. "And we've got everything in between." As the largest owner of malls in the nation, Simon has the capital to invest in high-end department stores. While other Long Island malls have shed department stores in recent years, Roosevelt Field added Neiman Marcus to anchor its newly constructed west wing that opened in 2016. And while other Long Island malls have vacancy rates in the double digits, Simon reported a 5 percent rate at Roosevelt Field in its annual report in December 2020. Roosevelt Field aims to incorporate many distinct offerings under its umbrella of more than 200 stores. This year, Donna Karan New York (DKNY) debuted its first women's boutique and Karl Lagerfeld Paris its first men's retail store at the mall, both opening on Sept. 22. Earlier in 2021, clothing brands Rebecca Taylor and Vince opened their only stores on Long Island at Roosevelt Field. This year also saw Swiss watchmakers Omega and Tag Heuer join other timepieces brands at the mall, such as Tourneau. Meanwhile, next spring Hermès will set up shop there alongside Louis Vuitton, Burberry and other luxury brands. Roosevelt Field's many "in-between" stores include an array of apparel brands, from Gap, Adidas, and Banana Republic to Express, Foot Locker and Urban Outfitters. Free People Movement is among the newer, more affordable apparel companies that moved in this year. Beauty brands are also well represented at the mall, including Sephora, Bath & Body Works, MAC Cosmetics, Morphe, and Kiehl's. Toy stores range from the traditional LEGO to the fledgling, European-based Hey! Joy. "We're constantly asking ourselves, 'Okay, what ways can we make our merchant mix more interesting to the consumers? What are they looking for?,'" Gilbert said. "We're constantly looking to bring more interesting brands." Roosevelt Field's diverse portfolio is also reflected in its efforts to help more online-only brands to open their first physical stores there. The mall also keeps adding to its mix of dining options. The overall strategy is designed to entice a wider variety of shoppers to choose the mall over its e-commerce rivals. Toward this end, Roosevelt Field appeals to shoppers who like to see, touch and try on or try out merchandise in person, and who want to possess these goods immediately rather than wait for a package to arrive via delivery. It's a competitive edge that malls in general have over the likes of Amazon. Mall owners and managers also emphasize the social aspect of visiting their shopping centers. Simon management highlights how Roosevelt Field serves as a community hub, working with various organizations, from the Girl Scouts to The Salvation Army, and hosting many charitable and entertainment events, from toy and food drives to Santa Claus sightings with children and pets. "It's doing all of those community things that you can come and do at one place," Gilbert said. "Whereas, if you're buying from Amazon, you're not giving to your local charity, because you're not at the place where they are. So, that's one definite thing that we have." Others are taking note of this strategy that many malls are adopting to survive in the age of e-commerce. Among them is Alexander Goldfarb, a managing director and senior research analyst at Piper Sandler. While commenting on Simon's encouraging 2021 third-quarter earnings—in which the company reported income at $679.9 million, up from $145.9 million from the same time last year—Goldfarb said: "When people do their holiday specials going into year end for business reports, it's always a photo of Santa Claus at the mall. It's never in a warehouse. It's never on someone's couch, shopping at online. It's always at the mall. You see lines of people lining up for Santa Claus. The mall is where it's at." * This story is the third in a series of four on Roosevelt Field and Simon Property Group. Online-Only Retailers Get Physical At Roosevelt Field MallRoosevelt Field Adds Restaurants To Attract Shoppers