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Mall of America making comeback with new stores, more shoppers, but challenges remain startribune.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from startribune.com Daily Mail and Mail on Sunday newspapers.
American shoppers continued to flock to the nation’s malls in greater numbers in April, with the foot traffic gap nearly halving in just two months, reinforcing the view of a retail recovery gaining traction. Foot traffic at a sample of 50 malls in April showed that, compared to the pre-pandemic April 2019 level, it was down 18.7 percent, a marked improvement from recent months, according to a report provided to The Epoch Times by mobile-device location data analytics firm Placer.ai. “In this metric, there was a strong forward momentum with the visit gap shrinking from 23.7 percent down in March to just 18.7 percent down in April,” the company said in the report. ....
April Retail Spending Stalls After Stimulus-Fueled March Shopping Spree Retail spending in the United States stalled in April, coming in at a below-expectations zero percent after surging over 10 percent in March, when a round of stimulus checks hit bank accounts and Americans went on a shopping spree. The U.S. Census Bureau said in a Friday release (pdf) that U.S. retail spending remained flat in April, while economists polled by Reuters predicted a 1 percent rise. So-called core retail spending which excludes automobiles, gasoline, building materials and food services dropped 1.5 percent last month. Retail spending surged by 10.7 percent in March, when many households received $1,400 stimulus checks as federal authorities disbursed a round of economic impact payments authorized by the recent $1.9 trillion pandemic relief bill. The retail spending measure saw a similar upward bump in January, when an earlier round of checks was sent out. ....
Mall Traffic Hits Post-Pandemic High as Retail Recovery Continues American shoppers continued to flock to the nation’s malls in greater numbers in April, with the foot traffic gap nearly halving in just two months, reinforcing the view of a retail recovery gaining traction. Foot traffic at a sample of 50 malls in April showed that, compared to the pre-pandemic April 2019 level, it was down 18.7 percent, a marked improvement from recent months, according to a report provided to The Epoch Times by mobile-device location data analytics firm Placer.ai. “In this metric, there was a strong forward momentum with the visit gap shrinking from 23.7 percent down in March to just 18.7 percent down in April,” the company said in the report. ....
Dive Brief: Moody s analysts see broad-based improvement ahead for the retail industry in 2021 as vaccinations grow and pressure from the COVID-19 pandemic eases, according to a recent report. The ratings agency lifted its industry outlook for retail to positive from stable based on a strong economic environment. Analysts now estimate operating profit to grow a robust 10% to 12% during the year. Those sectors hit hardest last year have some of the most room for growth, including apparel, department stores and off-price, the analysts said. Dive Insight: The Moody s report comes on the heels of good general economic news. During the first quarter of 2021, the economy grew at an annualized rate of 6.4%, driven by consumer spending, government stimulus, residential investments and other factors, according to the Bureau of Economic Analysis. ....