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When Charlotte Malls And Department Stores Close, What Happens Next?

When Charlotte Malls And Department Stores Close, What Happens Next?
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United statesCatherine muccigrossoDaphne howlandSaravanan kesavanKenan flager business schoolNorthlake mallCharlotte observerCharlotte based belkFlager businessஒன்றுபட்டது மாநிலங்களில்டபினே ஹவுலேண்ட்சரவணன் கேசவன்நார்த்லேக் மால்சார்லோட் பார்வையாளர்சார்லோட் அடிப்படையிலானது பெல்க்

Mall Vacancy Rate Hits Another Record High

by Tyler Durden By Daphne Howland of RetailDive, Summary: Office and retail vacancies are up, driving rents down, but the first quarter vacancy rate at regional and super-regional malls stands out. The record 11.4% rate is a 90-basis-point jump from the previous quarter, according to Moody s Analytics REIS. The vacancy rate at those malls is up 0.4% year over year, with asking rents down 1% and effective rents (which adds in other variables that affect occupancy cost) down 1.5%. Given the ongoing structural changes in the U.S. mall sector, that s not likely the bottom, according to a report from Moody s Analytics Senior Economist Thomas LaSalvia.

Daphne howlandThomas lasalviaSimon property groupAnalytics senior economist thomasடபினே ஹவுலேண்ட்சிமோன் ப்ராபர்டீ குழுபகுப்பாய்வு மூத்தவர் பொருளாதார நிபுணர் தாமஸ்

What s In Store For Belk As Charlotte Icon Enters Bankruptcy

WFAE It’s been nearly a month since Charlotte-based Belk announced it would file for bankruptcy, and late Tuesday the department store filed its Chapter 11 reorganization in, of all places, Texas. Belk is hoping for a speedy stay in bankruptcy, but the factors that landed the company in this position have been a long time coming: changing shopping habits and a load of debt from the company’s takeover in 2015. While publicly saying no layoffs or store closings are planned as part of the bankruptcy, Belk has sent signals that cuts are coming. NEW: How Belk went bankrupt: Inside the fall of a Charlotte icon.

United statesCatmuccigrosso austin weinsteinDaphne howlandKatrijn gielensAustin weinsteinKenan flagler business schoolCharlotte based belkHow belkFlagler business schoolRetail diveCharlotte observerஒன்றுபட்டது மாநிலங்களில்டபினே ஹவுலேண்ட்ஆஸ்டின் வெய்ன்ஸ்டீன்கெணான் கொடியிடுபவர் வணிக பள்ளிசார்லோட் அடிப்படையிலானது பெல்க்

The Impact of COVID-19 and Accelerated Growth of E-commerce on Gray Market Sales | Haug Partners LLP

7 channels grew 31.3% over November 2019, according to Digital Commerce 360 8 9 Online sales will account for 21.0% of total retail sales in 2020, up from 15.8% in 2019 and 14.3% in 2018 10 Digital Commerce 360 estimates that e-commerce sales will reach $839.02 billion by the end of 2020 representing a 40.3% growth from 2019. 11 This number represents the highest annual U.S. e-commerce growth in at least two decades. 12 Additionally, growth in e-commerce accelerated by two years, 13 thus if it were not for the pandemic, the nearly $840 billion in online retail sales in 2020 would not have been reached until 2022. 14 Accordingly, U.S. retailers had a COVID-19-related $152 billion boost in e-commerce sales in 2020. 15 According to data published by the U.S. Commerce Department, during Q3 of 2020 from July to September, consumers spent $199.44 billion online with U.S. retailers, up 37.1% from $145.47 billion for the same quarter the prior year.

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