Halloween costume chain Spirit bet on the pop-up model and won
CBSN
Spirit Halloween pop-up costume shops have become ubiquitous and virtually synonymous with the October dress-up holiday in some cities.
While the specialty retailer has no permanent physical store fronts, it opens more than 1,500 temporary brick-and-mortar locations each fall, before disappearing once the holiday concludes. Its business model has proved so successful that the retailer plans to open 10 Spirit Christmas stores for the first time this year.
"Real estate has been severely disrupted, so it is available, plus it is a really unique holiday," retail analyst Oliver Chen said of Halloween, and the business's success as a seasonal retail chain only.
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Target is heading into the holiday season with a gloomy outlook, with the retailer reporting its sales and profit fell short of analysts' expectations and lowering its earnings forecast for the current quarter. Its shares tumbled almost 20% in pre-market trading.