CMBS Delinquency Rate Spikes by Most on Record by Wolf Richter • Jun 2, 2020 • 87 Comments Commercial Mortgage-Backed Securities backed by hotel and mall properties get hit the hardest. Mall-REIT CBL failed to make bond interest payment yesterday.
During the Last Financial Crisis, Even Ecommerce Sales Plunged. Not This Time by Wolf Richter • May 19, 2020 • 64 Comments Ecommerce Spikes to Record. Mall Stores Got Hung Out to Dry. Walmart’s Online Sales, Still Woefully Behind, Shot Up 74%
Shares of Mall REITs Jumped 12% Today, But Have Collapsed So Far It’s a Barely Visible Blip by Wolf Richter • May 18, 2020 • 99 Comments The disaster came in two phases: first, the brick-and-mortar meltdown, then Covid-19.
Zombie J.C. Penney Finally Files for Bankruptcy, in Deal with Distressed Debt Funds. Stock and Some Bonds Wiped Out by Wolf Richter • May 16, 2020 • 139 Comments Investors bet on this outcome for years. Covid-19 just sped it up by a few months. Department Stores Are Toast.
Here’s What Collapsed, Spiked, or Hung On in 12 Charts of Retail Sales (Yes, Department Stores Were Already Toast) by Wolf Richter • May 15, 2020 • 141 Comments Years of brick-and-mortar meltdown get compressed into a few months. But ecommerce is booming.
US Commercial Real Estate Prices Plunged in April, Mall Prices Collapsed by Wolf Richter • May 11, 2020 • 171 Comments Tenants’ collapsing one after the other without replacement has a pernicious impact on property prices.
Can Macy’s Survive this Crisis Without Filing for Bankruptcy? by Wolf Richter • Apr 28, 2020 • 121 Comments 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.
Supermarket Sales Jumped, Alcohol Sales Spiked 33% & Online Grocery Sales 100%, But “Non-Food” Sales Collapsed by Nick Corbishley • Apr 25, 2020 • 141 Comments How the Virus Crisis Flipped UK Retail Sales Upside Down.
Here’s Where Retail Sales Spiked and Collapsed in 11 Mind-Blowing Charts of Lockdown Land by Wolf Richter • Apr 15, 2020 • 165 Comments But department stores will never recover; they were toast before the lockdowns.
A Word About Hong Kong’s Retail Sales Collapse: It’s a Mess by Nick Corbishley • Apr 1, 2020 • 57 Comments Sales at luxury goods stores, once the largest category, collapsed by 86% since their peak in 2013-2014.
