July 21, 2011
A friend who runs a retail consulting organization I am affiliated with has just begun publishing a newsletter focused entirely on retailing in Brazil. I wanted to let the readers of GLG News who follow retailing around the world to know about this new and well informed source of information.
The Best Get Better While the Bad Get Worse
June 27, 2011
Prime Retail Rents See a Spike as Consumers Return to Luxury Shopping | www.nationmultimedia.com
This article in The Nation's 6/27/11 issue reports on a survey by Colliers International showing that as of March 2011, the rents for prime luxury retail locations has risen across the entire world.
Sears Credit Approaching Junk Status
June 23, 2011
Fitch Downgrades Sears | www.chicagotribune.com
In a highly under reported move, Fitch Ratings downgraded Sears Holdings Corp. credit rating to "B" (with a negative outlook) from "B+". The new rating is five steps below investment grade. The only comment coming from Sears since this announcement is a PR piece about how smart Mr. Lampert has been with his investment in Auto Zone.
Best Buy is on a Fool's Errand
June 23, 2011
Best Buy To Downsize Brick-and-Mortar Footprint | www.latimes.com
I could not resist commenting on the problems associated with the recent article in the LA Times about Best Buy's announcement to start an aggressive program of subleasing a portion of their stores to others. I was amazed that so few business analyst chose to comment on what is one of the most massive downsizing effort yet announced.
Westfield Wants To Dump Everything Below $380 PSF
June 10, 2011
Bidders Eye Mall Portfolio | www.morningstar.co.uk
I love this article from the June 8 WSJ because it confirms what I have been saying since the CRE bubble burst. For the first time we are beginning to see the market wake up to the fact that good malls are going to remain good or get better while poor malls will continue in their death spiral.
A Hidden Threat To Municipal Bonds
June 10, 2011
Faded Malls Leave Cities In the Lurch | online.wsj.com
This WSJ article should serve as a reminder of some of the overlooked impacts that are yet to be felt as the result of the real estate bubble. It details some of the problems facing many smaller city's budgets as the tax revenue from failing malls disappears.
June 7, 2011
Behind dazzling growth story, Groupon struggles to keep ustomers clicking | www.chicagobusiness.com
Groupon's long awaited IPO filing has revealed some very disturbing details about the growing decline in sales per customer and the increase in cost to get those customers. GLG News readers should be warned to look at this IPO beyond its' quadruple-digit growth rates.
Another Misleading Article About Retailing From Folks Who Should Know Better
May 27, 2011
The Great Retail Shrikage: Will Smaller Stores=Higher Profits? | www.thestreet.com
A reporter from "The Street" who presumably is knowledgeable about the retailing industry, has written a very misleading article about what is happening to store sizes and the possible repercussions it will have on the retailing industry. As a service to GLG News readers who follow the retail industry, I felt compelled to correct the numerous misconceptions and outright exaggerations.
Whatever Happened To The Dillard's REIT?
May 24, 2011
I recently got a call from a reporter in Arkansas who was writing an article about their hometown department store icon, Dillard's. The reporter asked me about the much publicized REIT that was announced early in 2011. He caught me off guard and I had to admit I really did not have any news to report on the current status. After the call I got busy and researched the matter and wanted to share my findings with GLG News readers.
American Dream Meadowlands Will Be A Nightmare
May 4, 2011
Triple Five Looks to Find American Dream in Xanadu | retailtrafficmag.com
Sorry, but I could not resist the title and making one last comment about what I believe to be the biggest shopping center disaster in the country and the second biggest in the world!
February 6, 2012
Las Vegas real estate: A happy new year?
January 20, 2012
Commercial property sales plunge in New York City: Why should everyone care?
January 19, 2012
Are Macy's closures a leading indicator of mall REIT values?
January 18, 2012
Ireland's commercial property outlook
January 9, 2012