Woodfield Reports a Record 2002
Released: 03/28/03
WOODFIELD REPORTS A RECORD 2002
Chico's, Lady Foot Locker, Sephora and Fred Meyer's Jewelers Among Sales Standouts
SCHAUMBURG, Ill. (March 28, 2003) - Woodfield Shopping Center enjoyed record specialty store sales during 2002, according to information released at the mall's Merchant Appreciation Breakfast earlier this week. In a year marked by negative retail reports across the country, the nation's fifth largest shopping center reported not only an overall, single digit sales increase, but also dramatic growth in areas that center management considers key performance indicators - gift certificate sales, motor coach traffic, and registered Web site users.
"If we have to point to one factor accountable for Woodfield's continued growth in a declining market, it's the center's merchant mix," said Woodfield General Manager Marc Strich. "Woodfield truly offers the best of the best in every merchant category, and this is a trend we only see escalating into 2003, as current leasing agreements signal even higher occupancy levels."
Among those Woodfield tenants recognized for the year's most dramatic sales increases within their merchandise categories were: Chico's (apparel); Lady Foot Locker (shoes); Starbucks (food); Sephora (beauty, health, optical and services); Fred Meyer's Jewelers (jewelry), and Carlton Cards (gifts, electronics and specialty).
Mall-wide gift certificate sales topped $3.5 million for the first time in Woodfield history during 2002. Out-of-market shoppers reached 4.3 million, and the center's motor coach business nearly doubled from 2000 levels, supported, in part, by aggressive partnering with area hotels and an innovative concierge program.
The Woodfield Web site - widely recognized as state-of-the-art among shopping center sites nationwide - had amassed almost 40,000 registered users, many of whom opted to receive weekly updates about stores, sales, events and other center news. Ninety-nine percent of registered users responding to a recent survey indicated that they visit the center at least six times a year; 68% said they visit Woodfield once a month, and 27%, weekly. The site, www.shopwoodfield.com receives an average of 2 million hits per month.
2002 was also a year of sizeable growth in terms of strategic marketing alliances for Woodfield. The establishment of major, long-term partnerships with Pepsi, the Chicago Tribune, Alexian Brothers Healthcare and United Parcel Service, among others, not only generated significant sponsorship revenue for Woodfield by providing partners with attractive opportunities to reach customers predisposed to shopping, but also created new experiences and excitement for Woodfield shoppers.
Additional Woodfield merchants recognized for their 2002 performance include: Bath & Body Works (most requested store on shopwoodfield.com); The Sharper Image (best media partner); Origins (best tourism partner), and Charmed I'm Sure (best kiosk).
Located at Route 53 and Golf Road in Schaumburg, Ill., 25 miles from downtown Chicago, Woodfield is home to nearly 300 of the world's top retailers including dozens that can't be found anywhere else in the Midwest. Anchor stores include Nordstrom, Marshall Field's, Sears, JC Penney and Lord & Taylor. Coming soon to the center will be the first Midwest opening of H&M, the hugely popular Swedish clothing retailer that brings fashion from the runways to the racks at warp speeds, and Rampage, a trendy young women's apparel boutique. Joining the more than 25 Woodfield restaurants is the newly opened Todai Seafood Buffet, an upscale yet affordable Japanese all-you-can-eat buffet.
Woodfield is managed by The Taubman Company, owner and/or manager of 31 urban, suburban regional and super regional shopping centers in 13 states.
Media Contact:
Andy Perez or Bonni Pear
Miller-Pear Public Relations
(312) 649-0466
info@millerpear.com