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Bed Bath & Beyond to Close 20% of Stores in Next Two Years
News 2 days ago
Bed Bath & Beyond to Close 20% of Stores in Next Two Years
Source NREI - Retail

The chain plans to close 200 stores over the next two years in an effort to cut costs. (Bloomberg)—Bed Bath & Beyond Inc. plans to shrink its store...

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Kohl’s CEO Says Store Is Changing Faster Than Ever Expected
News 2 weeks ago
Kohl’s CEO Says Store Is Changing Faster Than Ever Expected
Source NREI - Retail

CEO Michelle Gass said the pandemic has forced the company to speed up its migration to e-commerce and rethink store operations. (Bloomberg)—Nearly...

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Rival Taubman Says Simon Has Buyer’s Remorse on Mall Merger
News 3 weeks ago
Rival Taubman Says Simon Has Buyer’s Remorse on Mall Merger
Source NREI - Retail

In a new legal filing, Taubman argues that it would suffer “irreparable harm” if the deal isn’t closed. (Bloomberg)—Taubman Centers Inc. says rival...

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Beauty Retailers Face New Challenges Post-COVID
News 3 weeks ago
Beauty Retailers Face New Challenges Post-COVID
Source NREI - Retail

The major beauty chains used to drive customers into stores with promises of free product testing and salon services. How will they adapt to a new...

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Mall of America Said to Miss Another Payment on Mortgage Debt
News 3 weeks ago
Mall of America Said to Miss Another Payment on Mortgage Debt
Source NREI - Retail

The property didn’t make a $7 million debt payment for June. (Bloomberg)—Minnesota’s Mall of America missed another payment on a $1.4 billion...

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Shopify Gains After Deal With Walmart Expands Network’s Reach
News 3 weeks ago
Shopify Gains After Deal With Walmart Expands Network’s Reach
Source NREI - Retail

Founded in 2006, Shopify has become the platform of choice for businesses large and small that are looking to get online cheaply and quickly. ...

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10 Ways Landlords Can Help Restaurant Tenants Survive Reopening
News 1 month ago
10 Ways Landlords Can Help Restaurant Tenants Survive Reopening
Source NREI - Retail

Rent relief is only one measure that can help restaurants stay afloat while facing caps on occupancy. Here are some others. As various states...

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Fight Over ‘Predatory’ J.C. Penney Bankruptcy Loan Gets Ugly
News 1 month ago
Fight Over ‘Predatory’ J.C. Penney Bankruptcy Loan Gets Ugly
Source NREI - Retail

A $900 million financial package from H/2 Capital Partners and Silver Point Capital has been lambasted by another set of lenders. (Bloomberg)—The...

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Mall Stocks Surge with Shoppers Coming Back Faster Than Expected
News 1 month ago
Mall Stocks Surge with Shoppers Coming Back Faster Than Expected
Source NREI - Retail

At North Carolina centers owned by Tanger traffic was at 80 percent of pre-pandemic levels. (Bloomberg)—Shoppers in South Carolina are ready to go....

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Tuesday Morning Files for Bankruptcy, Adding to Retail Toll
News 1 month ago
Tuesday Morning Files for Bankruptcy, Adding to Retail Toll
Source NREI - Retail

The company plans to close about a third of its 687 stores. (Bloomberg)—Tuesday Morning Corp. filed for bankruptcy, adding the discount home-goods...

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Fitness Clubs Facing $10 Billion Revenue Hit as Members Flee
News 1 month ago
Fitness Clubs Facing $10 Billion Revenue Hit as Members Flee
Source NREI - Retail

A survey of 1,000 fitness club users showed more than a third have cancelled or plan to cancel their gym memberships. (Bloomberg)—Fitness clubs...

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A J.C. Penney REIT Is an ‘Odd Value Proposition’ in Today’s Climate. But its Stores Could Attract a Wealthy Buyer
News 1 month ago
A J.C. Penney REIT Is an ‘Odd Value Proposition’ in Today’s Climate. But its Stores Could Attract a Wealthy Buyer
Source NREI - Retail

Given unraveling retail rents, a J.C. Penney REIT might be a tough sell in this environment. But the chain’s stores might become a goldmine for...

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Pier 1 to Permanently Shut Stores After Virus Upends Sale
News 1 month ago
Pier 1 to Permanently Shut Stores After Virus Upends Sale
Source NREI - Retail

The retailer filed to begin an orderly wind-down “as soon as reasonably possible.” (Bloomberg)—Pier 1 Imports Inc. said it would seek bankruptcy...

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Ghost Kitchens Are Helping Restaurants Get Through the Lockdowns. But Will There Soon Be Too Many of Them?
News 1 month ago
Ghost Kitchens Are Helping Restaurants Get Through the Lockdowns. But Will There Soon Be Too Many of Them?
Source NREI - Retail

The need for food delivery has accelerated ghost kitchen openings in April. In the months before the COVID-19 pandemic hit, ghost kitchens were...

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Facebook Survey Shows 31% of Small Businesses Stopped Operating
News 1 month ago
Facebook Survey Shows 31% of Small Businesses Stopped Operating
Source NREI - Retail

A survey of 86,000 small business owners and employees showed that one-third have stopped operating as a result of the pandemic. (Bloomberg)—One...

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J.C. Penney Post-Bankruptcy Plan Includes Closing 29% of Stores
News 1 month ago
J.C. Penney Post-Bankruptcy Plan Includes Closing 29% of Stores
Source NREI - Retail

The department store chain plans to close roughly 242 stores across the country. (Bloomberg)—J.C. Penney Co., the department-store chain that filed...

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Scarred and Scared, the Reshaping of American Consumers Begins
News 2 months ago
Scarred and Scared, the Reshaping of American Consumers Begins
Source NREI - Retail

“The psychological impact of risk aversion setting in cannot be understated,” HSBC’s James Pomeroy and Fabio Balboni wrote in a May 1 note. ...

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How Will Food Halls Fare Post COVID-19?
News 2 months ago
How Will Food Halls Fare Post COVID-19?
Source NREI - Retail

Some will be undone by higher operating costs driven by the pandemic. But the sector will eventually rebound, brokers insist. Food halls will...

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A Look at What the COVID-19 Crisis Has Been Like for One Retail Landlord
News 2 months ago
A Look at What the COVID-19 Crisis Has Been Like for One Retail Landlord
Source NREI - Retail

A shopping center owner discusses rent relief requests, reopening plans and the outlook for experiential retail. “What do we do about tenants...

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What Department Stores Will Be Left Standing After COVID-19?
News 2 months ago
What Department Stores Will Be Left Standing After COVID-19?
Source NREI - Retail

The sector was already facing massive challenges. With consumers unlikely to return to malls anytime soon, some chains will disappear. The U.S....

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America’s Retailers Return to Lure Shoppers to Malls
News 2 months ago
America’s Retailers Return to Lure Shoppers to Malls
Source NREI - Retail

Chains such as Macy’s, Dillard’s and Belk are letting customers inside stores in parts of the country. (Bloomberg)—As some U.S. states lift...

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Saks Owner Missed April Payments on Commercial Mortgage Debt
News 2 months ago
Saks Owner Missed April Payments on Commercial Mortgage Debt
Source NREI - Retail

Hudson’s Bay has missed CMBS payments on part of its $696 million financing for Saks Fifth Avenue and other stores. (Bloomberg)—Hudson’s Bay Co....

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Billionaire Reuben Brothers Make NYC Push with Bet on Retail
News 2 months ago
Billionaire Reuben Brothers Make NYC Push with Bet on Retail
Source NREI - Retail

The U.K.-based real estate investors have bought a Fifth Ave. retail condo from SL Green for $170 million. (Bloomberg)—Billionaire U.K. real estate...

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Major Retailers Call on States to Adopt Uniform Reopening Plans
News 2 months ago
Major Retailers Call on States to Adopt Uniform Reopening Plans
Source NREI - Retail

Two top industry associations have asked state governors to adopt uniform re-opening standards for both stores and retail warehouses. (Bloomberg)...

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Sycamore Seeks to Terminate Deal to Acquire Victoria’s Secret
News 2 months ago
Sycamore Seeks to Terminate Deal to Acquire Victoria’s Secret
Source NREI - Retail

The private equity firm has filed a court complaint that Victoria’s Secret parent L Brands has violated covenants of the purchase agreement. ...

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How Will Net Lease Retail Assets Fare During and Post-COVID-19?
News 2 months ago
How Will Net Lease Retail Assets Fare During and Post-COVID-19?
Source NREI - Retail

For assets leased by essential service providers, the cap rates haven’t changed, says one market insider. “But if there’s any kind of hair on the...

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T.J. Maxx, Discount Rivals Hunker Down with No Online Options
News 2 months ago
T.J. Maxx, Discount Rivals Hunker Down with No Online Options
Source NREI - Retail

COVID-19 has revealed a key weakness in discount retailers’ playbook: almost no e-commerce. (Bloomberg)—For years, discount retailers like T.J....

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Shake Shack Doesn’t Want Uncle Sam’s $10 Million After All: Timothy L. O'Brien
News 2 months ago
Shake Shack Doesn’t Want Uncle Sam’s $10 Million After All: Timothy L. O'Brien
Source NREI - Retail

The White House hasn’t provided a full accounting of where the money went or the logic determining who got it. (Bloomberg Opinion) -- Social media...

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A Short Bet Against Malls Fuels 48% Gain for One Long-Time Bear
News 2 months ago
A Short Bet Against Malls Fuels 48% Gain for One Long-Time Bear
Source NREI - Retail

MP Securitized Credit Partners posted a net return of 47.9 percent in March in its $162-million flagship vehicle. (Bloomberg)—A hedge fund’s long...

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McDonald’s’ Long-Term Real Estate Structure Provides It with a Cushion Even in a Severe Downturn
News 2 months ago
McDonald’s’ Long-Term Real Estate Structure Provides It with a Cushion Even in a Severe Downturn
Source NREI - Retail

McDonald’s is likely to take a big hit on income in 2020. But owning its real estate empire should be a big help. The Golden Arches have lost some...

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