The National Retail Federation predicts up to 152 million Americans will shop during the upcoming Black Friday weekend, and deal-seeking consumers may flock to discount retailers, Kimco Realty's chief executive told CNBC Tuesday.
“We’re seeing the discounters fare very well across the United States, especially the national discounters that are growing,” said David Henry. “These are companies with business models that attract today’s consumers. They’re looking for value, and they’re willing to go to these stores to get it.”
Some retailers that could benefit from the swell of shoppers this holiday season include Petco, T.J.Maxx , Bed Bath & Beyond , Nordstrom and Saks , Henry said.
During the last couple of years, the discount retailers he mentioned have shored up their balance sheets and cut inventory and overhead and have "a very good business model," he said.
Local "mom-and-pop" stores are not performing as well, he said.
“The local stores — the true mom and pops — as a percentage of total retail sales is continuing to decline over time," he said. "They’re simply losing the battle. If you have a local coffee shop for instance, it’s losing the battle to Starbucks and Dunkin' Donuts and others."
Henry added that although both the high- and low-end stores are drawing consumer demand, the middle segment “isn’t holding up that well right now.” He cited Gap as an example of a retailer that is attempting to attract the middle segment.
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Disclosure information was not available for David Henry or his company.