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Baltimore retail 
WEEKLY RETAIL DIGEST
CBRE
A weekly review of retail intelligence from CBRE, including what others are talking about in retail neighborhoods around Baltimore.
In The News
Under Armour beats Wall Street expectations with help of strong footwear sales, Baltimore Business Journal
Under Armour Inc. reported strong financials for the most recent quarter, surpassing Wall Street expectations as the company's footwear sales saw a big jump. The Baltimore sportswear maker reported revenue of $1.58 billion for the fiscal third quarter ending Dec. 31, up 3% from the same period a year ago. Wall Street expected the company to report revenue of $1.55 billion. The increased revenue was due in part to a 25% jump in footwear sales, which saw revenue of $354 million for the quarter, as the company has leaned into performance in that category. Article Link

Macy's pending closure at Lakeforest Mall sets stage for redevelopment, Baltimore Business Journal
Macy’s Inc. is closing its store at Gaithersburg’s Lakeforest Mall, setting the stage for the languishing shopping center’s planned redevelopment. Axios reported Feb. 22 that Macy’s (NYSE: M) will soon begin a clearance sale at its store at 701 Russell Ave. and several other locations across the country that will run approximately eight to 12 weeks prior to store closures. Article Link

Maryland Gov. Moore Testifies for Faster Minimum Wage Boost, WBOC
Maryland Gov. Wes Moore pushed lawmakers on Monday to increase the minimum wage to $15 this year — instead of waiting until 2025 — and allow annual increases that are tied to the cost of living. Part of the measure that would tie future increases to the Consumer Price Index beginning in 2025 is coming under particular scrutiny. During a panel discussion with some business leaders who support the Democratic governor’s proposal, Moore acknowledged the challenge of persuading lawmakers to support it. Article Link

 
Retailer Announcements
Openings

Krazy Sweet Cafe to open in Mount Vernon
Shrimp salad and more due soon at rising Baltimore food hall The Mill on North
Burgers and betting: Maryland restaurant chain The Greene Turtle plans to open sportsbooks in Canton and Towson
J. Alexander's Restaurant To Open In Annapolis, Replace Gordon Biersch
Bojangles to replace old Ruby Tuesday site along Frederick's Golden Mile
Chicken Salad Chick Opens 24 Restaurants in 2022
Bath & Body Works is Opening a New Store in Maryland
AJ’s on Hanover Fills a Void in South Baltimore

Announcements

Arcade bar, Caribbean fusion restaurant coming to Downtown Columbia
CFG Bank Arena to launch VIP membership program
Prime Rib signs 15-year lease to remain in Mt. Vernon — and expand
Orioles owner Peter Angelos sells Baltimore County shopping center for $15.1M
Congressional Village retail center poised for revitalization under new owners
Bits & Bites: The Prime Rib to stay in Mount Vernon, tacos take over Federal Hill and Fells Point gets spicy
CIAA fans flock to Baltimore after two years of Covid restrictions
In Baltimore for the CIAA Tournament? Here’s where to shop, eat and visit.
Medifast's Q4 revenue declines as CEO predicts losses will continue in 2023
One-Eyed Mike's in Fells Point auction sale postponed
Village of Cross Keys approved for marketplace liquor license
Here’s where to go for a hike and nice lunch
At Richard’s Fish & Crabs, crustaceans are the ‘bread and butter’ for Bel Air favorite
Dozens of restaurants participating in Maryland Vegan Restaurant Month
Open & Shut: Tea Horse Sichuan Bistro; Ellie’s Tavern; One-Eyed Mike’s
These Sweet-Heat Pretzels Are Spicing Up the Snack Scene
How Area Chefs Are Immortalizing Their Elders Through Their Recipes
For more information, please contact:
Kevin 
Gold
Senior Research Analyst
+1 703 582 5727
kevin.gold@cbre.com
Laurence
Oster
Senior Vice President
+1 410 244 7100
laurence.oster@cbre.com
CBRE Professional Profile
Jack
Taylor
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