Ecommerce Spikes to Record. Mall Stores Got Hung Out to Dry. Walmart’s Online Sales, Still Woefully Behind, Shot Up 74%
The disaster came in two phases: first, the brick-and-mortar meltdown, then Covid-19.
Investors bet on this outcome for years. Covid-19 just sped it up by a few months. Department Stores Are Toast.
Years of brick-and-mortar meltdown get compressed into a few months. But ecommerce is booming.
Tenants’ collapsing one after the other without replacement has a pernicious impact on property prices.
Its unsecured bonds crashed 53% since Feb 14. It has been living off its real estate portfolio of “owned boxes” for years by selling them.
How the Virus Crisis Flipped UK Retail Sales Upside Down.
But department stores will never recover; they were toast before the lockdowns.
Sales at luxury goods stores, once the largest category, collapsed by 86% since their peak in 2013-2014.
Services account for 70% of the US economy. Here’s what’s happening to services and retail in economic powerhouse Texas.