Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
Heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States.Agricultureread more
Although Cook did not mention companies by name, his commencement speech in Silicon Valley's backyard mentioned data breaches, privacy violations, and even made reference to...Technologyread more
U.S. ambassador to Israel David Friedman called the gesture a "birthday present" to Trump, who turned 73 on Friday.Politicsread more
The agreement, which is on the framework for the plan of adjustment, provide for more than a 60% average haircut for all $35 billion, a 36% haircut on pre-2012 general...Bondsread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
Target's registers were down on Saturday for several hours preventing customers from checking out.Retailread more
The newspaper wrote that Goldman's executive are hoping CEO David Solomon's changes to a firm that historically thrived in investment banking and trading will boost its...US Marketsread more
The Fed is not likely to make a move on interest rates when it meets next week, but it should clear the way for a rate cut later in the summer.Market Insiderread more
Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
With uncertainty keeping a lid on U.S. stocks, Ed Clissold of Ned Davis Research says the rest of 2019 is likely to be a "choppy," but somewhat opportunistic, ride for...Futures Nowread more
Bon-Ton, Toys R Us, Sears, Claire's and Sam's Club are just a few of the major retailers that have shut hundreds of locations altogether across the U.S. this year, leaving a glut of commercial real estate on the market.
It's allowed the few retailers that are still expanding as well as some "e-tailers" looking to plant some roots take advantage of the empty space and cheaper leases.
The new tenants, filling some of the millions of square feet of retail space that went dark last year, have helped to ease concerns about an uncertain 2018 for shopping center owners. The real estate companies that have reported second-quarter earnings say the decline in occupancy rates that dragged on some results last year has at least stabilized. Simon Property Group, a real estate investment trust that owns some of the most profitable malls and premium outlets in America, went so far as to hike its full-year outlook.
Ross Stores and Ulta Beauty are among the few companies that are looking to open new locations, while Dick's Sporting Goods and the parent company of TJ Maxx are looking to grow offshoots of their brands, like Field & Stream and HomeSense. Digital retailers like Warby Parker and Untuckit are currently searching for their own brick-and-mortar shops. And there has been an uptick in international brands like Uniqlo and Primark looking to expand in the U.S.
"We're actively negotiating deals right now with at least 20 major, national, healthy companies ranging from off-price — like Burlington, Ross, the TJX brands — all the way over to specialty grocers like Lucky's and Sprouts, " DDR Corp. CEO David Lukes said on a call with analysts and investors earlier this month. Those are some of the tenants the shopping center REIT was lining up to replace vacated Toys R Us stores. DDR owns more than 200 open-air shopping centers across the U.S. with anchors like Trader Joe's, Bed Bath & Beyond and Five Below.
Kimco, another shopping center REIT that had 22 Toys R Us stores before the retailer went bankrupt in 2017 and closed all of its stores this year, said it has already signed new deals for seven of those spaces, declining to say which companies will be moving in.
"These efforts have produced significant interest from major retailers in off-price, furniture, fitness, specialty grocery, and arts and crafts," Kimco CEO Conor Flynn said last week.
The pace of filling those empty stores is, in fact, accelerating, according to Simon Property Group.
"We are working through the bankruptcies and putting in better retailers," CEO David Simon said on an earnings conference call Monday. "I think retailers were playing defense, and now they are playing a little more offense."
Some mall and shopping center owners are even predicting a rebound in retailers' expansion plans by the end of the year, buoyed by e-commerce brands and international start-ups.
Acadia Realty Trust CEO Ken Bernstein said the discussions with existing tenants are much different this year than last year. Acadia owns urban retail buildings in New York, San Francisco, Chicago and Boston.
"In 2017, far too many of our retailers of all different stripes were frozen. So, even if you were willing to lower your rent, there were not worthwhile conversations to be had," Bernstein said on an earnings call with analysts last week. "Fast forward to 2018, and what we're seeing — some of our well-known names are back on offense. They're disciplined about rents, but they are ready to sign leases."
Amazon's purchase of Whole Foods last year and its plans to open more Amazon Go convenience shops gave industry analysts reason to believe there's still value in having brick-and-mortar stores. Companies, however, are being more particular about where they want to expand their footprint: They want the best real estate in high-trafficked areas and typically are signing deals for shorter terms in smaller spaces.
"There are key indicators that help us predict what is going to happen" when it comes to store closures and new stores opening, Greg Maloney, president and CEO of Jones Lang LaSalle's Americas retail division, told CNBC. JLL is a commercial real estate services firm that helps landlords fill vacant spaces and retailers renegotiate their rents.
The retail industry is poised to stage a comeback after several brutal years as more consumers shifted their shopping habits online. Fewer stores are expected to close during the second half of this year. And Maloney said inventory orders for the holidays are up.
"We are looking at the buying patterns of retailers right now and they are buying at record paces," Maloney said. "Right now if it continues at this pace following, it's going to be a great holiday season."
WATCH: Kimco CEO Conor Flynn discusses trends in the retail industry ahead of the holidays