Need a New Year’s Resolution?

The fallout of brick-and-mortar retailing continues, with nearly 1 billion square foot of retail space to be “rationalized” in the coming years through store closures and conversions to other uses, according to real estate information firm CoStar. Revenue per square foot has fallen about 10% in mall stores over the past decade and all evidence suggests that this is going to continue. Further retailer bankruptcies like The Limited, who is currently looking at its options for Chapter 11 protection, are sure to follow. It seems like the Grinch may have made an early appearance this holiday season for some retailers as slow moving inventories and deep discounting take their toll. Read More...