Malls were emphasizing the importance of keeping anchor tenants, but in the case of Payless Shoesource, it now appears that the shoe is on the other foot. Photo Credit: Mike Mozart The closure of all 2,300 of Payless ShoeSource’s (Payless or the Company) stores in the United States and Canada seems like a minimal event on … Continue reading Unhappy Feet 2: Payless ShoeSource Files for Second Bankruptcy in Total Store Shutdown
This holiday season, growing consumer trends have given the brick-and-mortar retail industry plenty to be merry about. America’s malls and department stores may enjoy an uptick in foot traffic with preliminary studies, which hinted that consumers are not only willing to spend more money, but are actually prepared to visit retail locations. E-commerce is still … Continue reading Brick-and-Mortar Retail Just May Have a Happy Holiday
Canadian malls are set to have a happy 2018 holiday season with promising retail trends. Many preliminary studies suggest that consumers plan to spend more money than last year and, while e-commerce is still expected to trend upward, shopping attitudes during the holidays are driving much-needed foot traffic back into traditional retail space. In this … Continue reading Retail Optimism Gets Canadian Malls into the Holiday Spirit
While the reported Gymboree closures will likely not act as a sole catalyst for a decline of a mall, DBRS cautions that there are regional malls that can ill afford to lose one more national retail tenants. The Gymboree Group, Inc. (Gymboree) is not exactly jumping for joy this year, as the children’s clothing retailer is … Continue reading Is Gymboree Going Nighty-Night?
Lowe’s Companies, Inc. (Lowe’s or the Company, rated A (low) with a Stable trend by DBRS) is attempting a different retail strategy to stay competitive with other home improvement and hardware companies by closing 47 locations across North America. DBRS sees little impact from this on the retail market, on commercial mortgage-backed securities or … Continue reading Lowe’s Renovates Its Retail Strategy
In a largely unsurprising move, Sears Holdings Corporation (Sears) filed for bankruptcy on October 15, 2018. Soon thereafter, the notoriously troubled franchise — which had already announced that 150 stores would close in 2018 — announced an additional two rounds of closures. The latest closures include an initial round of 142 locations, with liquidation sales expected to be … Continue reading The Fall of an Icon — Sears and the Evolution of the Great American Shopping Mall
Investment Activity Although regional malls have generated negative headlines over the past few years, the recent acquisitions of the Westfield Group (Westfield) by Paris-based Unibail-Rodamco (Unibail) and General Growth Properties (GGP) by Brookfield Property Partners (Brookfield) may signal new opportunities in the space. Unibail purchased Westfield in 2017 for $15.8 billion in a deal that … Continue reading The Retail Crossroads: Exploring the Potential for Malls
Fewer shoppers are visiting department stores during the holidays, favouring the convenience of purchasing products online instead. This leaves massive retail giants, such as Macy’s (whose stock has been down by 46.0% since the start of 2017), Kohl’s (down by 16.6%), Nordstrom (down by 19.2%) and JCPenney (down by 64.5%), suffering heavy losses, according to … Continue reading The E-Commerce Takeover: Why Department Stores Are Struggling This Holiday Season