- The extra-early start to the holiday promotions at leading retailers has done little to shore up retail spending. Retail sales are faltering, reversing promising rebounds this summer.
- Consumers are pulling back on retail spending as the jobs recovery is stalling and unemployment benefits expire. Surging COVID cases are forcing more retailers to close, many permanently.
- While grocers, discounters, and online retailers thrive, apparel stores, restaurants, and department stores—and their landlords—face a very challenging outlook.
- Expect retail REITs tosee elevated vacancies and depressed rent collections through next year andinto 2022.
For further details see:
A Disappointing Start To Holiday Shopping