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US Mall Closures: Impact of Covid-19 Likely To Accelerate Mall Consolidation

Considering the impact of Covid-19 on mall consolidation, we present our estimates for mall closures in the next five years. We explore how department store and other anchor store closures are exacerbating the challenges faced by mall owners and the influence of tenant mix on near-term vulnerability—as well as opportunities for malls to adapt and survive, such as through repurposing space into fulfillment centers and tapping health-care and grocery retail.

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US Store Closures: Apparel Sector Accelerates Toward Record Number of Store Closures

Store closures are continuing to mount across various discretionary sectors in the US retail industry against the backdrop of Covid-19—with the apparel sector having seen a high number of permanent closures and bankruptcies so far in 2020. We provide an overview of these developments and discuss the outlook for the sector over the remainder of the year.

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Costco Monthly Sales, July 2020: Comp Growth Accelerates Further, but E-Commerce Growth Decelerates

Costco’s global same-store sales increased year over year in July. Reflecting a return to stores by shoppers, the acceleration in total comparable sales growth came despite a slowing in e-commerce growth. We review the comparable sales metrics reported by Costco for July 2020 and consider the factors that impacted results—including currency fluctuations and gasoline price deflation.

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US Store Closures: Department Store Closures Exacerbate Challenges Faced by Mall Owners

Store closures are continuing to mount across various discretionary sectors in the US retail industry—with the rise in department store closures and bankruptcies a particular cause for concern for mall owners. We provide an overview of announced department store closures and bankruptcy filings and discuss the implications for mall owners and the retail industry as a whole.

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