Hilco Global issued a series of strategic recommendations to assist lenders with current portfolio exposure in the retail market to take action during the near-term fallout of the current COVID-19 pandemic.
An AlixPartners report reveals 87% of Americans say they will spend as much or more this season, with over a third (36%) saying it’ll be more. However, 48% say they’re willing to switch brands if tariffs on the products they purchase increase prices more than 10%.
Reuters reported that creditors, landlords and vendors are supporting retailers’ efforts to stay in business following bankruptcy.
Bloomberg reported that as many as 13,000 retail stores are expected to close in 2017 compared with 4,000 in 2016, The closures have a negative impact on the malls that house the stores.
According to a survey conducted by Capital Business Credit, retailers are not entirely confident consumers will open their wallets this holiday season.
Bloomberg reported that retailers and restaurants are now blaming the U.S. Presidential election for sagging sales instead of the weather.
According to a survey conducted by Capital Business Credit, U.S.-based importers and suppliers that sell goods to retailers are seeing growth in sales for both the summer and fall shopping seasons.