Foretaste of the Lockdown-Driven Collapse in the Services & Retail Sectors: Holy Moly, What a Catastrophic Mess by Wolf Richter • Mar 31, 2020 • 220 Comments Services account for 70% of the US economy. Here’s what’s happening to services and retail in economic powerhouse Texas.
Post-Lockdown New Normal: Many Brick & Mortar Stores Will Not Reopen, CMBS will Default, Mess to Ensue by Wolf Richter • Mar 30, 2020 • 245 Comments Neither the Fed nor the Treasury can bail out brick-and-mortar retailers.
Coronavirus May Deliver Coup de Grace to Overrated Commercial Mortgage-Backed Securities (CMBS) by Marc Joffe • Mar 24, 2020 • 72 Comments S&P made up for its tardiness by downgrading the CMBS in one fell swoop by 9 notches from AAA to BBB-, just one notch above junk.
How a Landlord of Neighborhood Malls Deals with the Lockdown Crisis his Tenants Face by Wolf Richter • Mar 19, 2020 • 84 Comments “Our Retail Marshall Plan.”
Lockdown in San Francisco, Silicon Valley & the East Bay: We’re to “Shelter in Place.” What it Means Now & Long Term by Wolf Richter • Mar 16, 2020 • 300 Comments The eeriness of the whole situation may leave permanent marks on consumers and business-decision makers.
Mall Giant Intu Warns of Bankruptcy: First, the Meltdown of Brick & Mortar Retail, Now COVID-19 by Nick Corbishley • Mar 15, 2020 • 48 Comments Local governments end up buying dying malls to keep them from becoming dead zones.
Ecommerce Spikes by Most Ever. Brick & Mortar Melts Down. Department Stores are Toast by Wolf Richter • Feb 20, 2020 • 183 Comments What’s astounding many people: ecommerce growth is not leveling off, but keeps surging at blistering rates.
Shares of Bedding Unicorn Casper Collapsed by 72% from Magical Pre-IPO Valuation by Wolf Richter • Feb 10, 2020 • 93 Comments Another overvalued money-losing unicorn in a lo-tech ho-hum business wobbled out the IPO window and crashed.
Another Major Employer Leaves San Francisco, 1,000 Jobs Vanish: Macy’s Shuts Tech Center in Broad “Optimization” by Wolf Richter • Feb 4, 2020 • 140 Comments In total, 2,000 tech, admin, and management jobs to be cut and offices closed around the country. In addition, one-fifth of Macy’s stores to close. Brick & Mortar Meltdown.
Startup Unicorn Casper Sets IPO Price Range to Dish Out 36% Loss to Prior Investors by Wolf Richter • Jan 27, 2020 • 96 Comments Another money-losing, cash-burning, over-hyped unicorn in a ho-hum low-tech business (bedding retailer) tries to make it out the IPO window.
