Best Buy Shares Plunge on Margin Pressures, “Organized Retail Crime”: A Look at Organized Retail Crime in the US and How Ecommerce Turned it into a Big Business by Wolf Richter • Nov 23, 2021 • 209 Comments Stolen goods get sold to law-abiding Americans by third-party vendors on big ecommerce sites that profit from it. Legislation to control it struggles.
CVS to Close 900 Stores, Convert Others from Retail to Services, as Ecommerce Competitors Gobble up Pharmacy Revenues by Wolf Richter • Nov 19, 2021 • 103 Comments Brick & Mortar Meltdown Continues.
Why Walgreens is in Trouble in San Francisco and is Closing Some Stores: It’s Not Shoplifting, that’s an Artful Distraction from the Real Reasons by Wolf Richter • Oct 23, 2021 • 234 Comments Caught up in the brick-and-mortar meltdown, it faces its own botched decisions and a market that has horribly turned against its pharmacies.
Mallmageddon: How Far the Value of Four Live Malls, Not Zombie Malls, Collapsed this Summer by Wolf Richter • Aug 25, 2021 • 112 Comments Leaving Big Holes in CMBS as mega-landlords, such as Bookfield and Westfield’s owners, walk away.
No Brick & Mortar Meltdown for Legal Marijuana Retailers by Wolf Richter • Aug 21, 2021 • 118 Comments In California, sales at cannabis retailers hit $5.1 billion over the past 12 months.
Creditors Foreclose on Another Mall of Simon Property Group, Face Massive Loss by Wolf Richter • Jul 21, 2021 • 147 Comments As largest mall landlord in the US sheds its malls, CMBS holders, such as bond funds and pension funds, take the losses.
The Breathtaking Collapse of Retail Rents in Manhattan, Year 7 by Wolf Richter • Jun 23, 2021 • 99 Comments Retailers willing to battle ecommerce will find “ample availability” – shuttered stores dotting the sidewalks – and much lower but still very high rents.
Third Publicly Traded Mall REIT Files for Bankruptcy in Eight Months: Washington Prime Group, the Simon Property Spinoff by Wolf Richter • Jun 14, 2021 • 87 Comments The brick-and-mortar meltdown for mall landlord started years before the Pandemic. For WPG, it started in 2016.
Macy’s Brick & Mortar Sales -35%, Digital +21%. Walmart Online +69%, US Ecommerce +32%. Online Furniture, Grocery, Clothing Sales Explode as Brick & Mortar Melts Down by Wolf Richter • Feb 23, 2021 • 135 Comments Mall landlords, even the biggest, are turning malls over to their lenders.
Owner of Westfield, Buckling under $32 Billion in Debt, Plans to Dump its US Malls After Huge Losses by Nick Corbishley • Feb 12, 2021 • 95 Comments “A management team that remains prisoner of its failed strategy that started with the acquisition of Westfield.”