Macerich: Scottsdale Fashion Square redevelopment news on Q2 earnings call
Staff Reports | Digital Free Press
Macerich is offering an account of detailed progress at the envisaged redevelopment and revitalization of the south wing at Scottsdale Fashion Square, which representatives of the brand say includes more experiential dining and more retail space dedicated exclusively to men.
Macerich (NYSE:MAC) is a leading owner, operator and developer of top retail and Class A mixed-use destinations throughout the United States.
During Macerich’s second quarter 2023 earnings call with analysts, Macerich Senior Executive VP of Leasing Doug Healey provided shareholders updates in the food and beverage category at Scottsdale Fashion Square, announcing noted seafood restaurant Catch will open on the flanking one side of the Nordstrom wing’s new, high-profile ‘porte cochere’ entrance.
Furthermore, Mr. Healey delivered the news that Élephante is joining the fine-dining offerings at Scottsdale Fashion Square. Catch is an Asian-inspired, globally influenced menu offering great food and great service in a lively atmosphere, with seven units open to date in Las Vegas, New York, Los Angeles and Aspen.
“In addition to the wealth of outstanding dining we continue to bring to Scottsdale Fashion Square, now including Catch, a major story emerging from our consistent reinvestment in this one-of-a-kind property in Arizona is the success and growth of men’s luxury,” Mr. Healey said in a prepared statement.
“Beyond dedicated standalone luxury stores for men from Gucci and Louis Vuitton, both now open and doing very well, we continue to see top global luxury flagships here dedicating more store space to the men’s market. This includes DIOR, which features men’s lounge seating and other elevated experiences just for men, plus Salvatore Ferragamo, Christian Louboutin and others. It’s a remarkable phenomenon and Scottsdale Fashion Square is at the forefront of this key trend.”
In all, Macerich properties saw an 8% sales increase year over year in men’s apparel (clothing and shoes), and the Top 10 Macerich centers by sales per square foot — which includes Scottsdale Fashion Square — saw a 13% year-over-year increase in this growing category.
The revitalization at Scottsdale Fashion Square encapsulates a wide variety of retail options for all occasions. Coming soon are full details on a first-of-its kind flagship in the south wing from premier, aspirational lifestyle brand TravisMathew.
