Retailers, retail landlords cautiously optimistic about holiday shopping season amid inflation, economic worries - Phoenix Business Journal

Covid-19 concerns are diminished, inflation worries are high. But consumers are ready to celebrate what's for many the first so-called normal holiday season in three years, which experts say should keep sales relatively strong and ultimately bolster the retail real estate sector.

Some retailers, though, are bracing for consumers to spend less this holiday season. Big-box retailer Target Corp. out of Minneapolis postedon Wednesday and cut its forecast for the holidays, citing continued weakness in consumer shopping habits. "I don’t think it’s shown up in the data but I think there is nervousness about interest rates and what that means for housing payments," Hottovy said. Other inflation and economic concerns will likely have consumers being judicious about where they shop and spend, including during the holidays.

"... he lower-income consumer is tightening their belt, and we do have a few brands that are affected by that," Simon said."But even with that said, we have an unbelievable return on investment after tax from the earnings that those businesses throw off, and we're also making investments ... in those businesses. So I expect those investments to pay for future earnings growth, but the macro is concerning.", head of retail research at Washington, D.C.

Last year, there were 21 announced bankruptcies in retail, according to Statista. As of June 16, there've only been four in 2022. And there's nothing to suggest retail real estate will be significantly disrupted in 2023 if there's a slowdown or small recession. The retail environment today is"leaner, meaner and stronger," Svec said, in part from the bankruptcies and store closures that were hallmarks of the 2010s and into 2020. Retailers who survived the global financial crisis, the 2010s fallout and the pandemic have finessed their strategies, including omnichannnel, to attract customers.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

ACE Awards 2022: Business Journal reveals fastest-growing, biggest companies in Phoenix area - Phoenix Business JournalThe Nov. 17 event drew more than 300 guests to the Scottsdale Center for the Performing Arts. Besides recognizing Arizona’s 50 largest private businesses and 25 fastest-growing businesses, four special awards were presented to CEO of the Year, Rookie of the Year, Innovator of the Year and Community Impact.
Source: phxbizjournal - 🏆 254. / 63 Read more »

Why the Phoenix metro is important to PetSmart - Phoenix Business JournalPetSmart's CEO said the retail company is competitive in its wages especially in the Valley where it pays more than $25 an hour at its distribution centers. phoenix
Source: phxbizjournal - 🏆 254. / 63 Read more »

Phoenix construction costs outpace nation, labor shortages expected in 2023 - Phoenix Business JournalAs general contractors complete a backlog of projects in 2022, industry insiders told the Business Journal they expect to see a slowdown in construction activity moving into 2023 and even into 2024 for nonresidential development as some future projects are put on hold.
Source: phxbizjournal - 🏆 254. / 63 Read more »

TSMC highlights challenges, operations at Phoenix factory to compete for Chips Act funding - Phoenix Business JournalThe semiconductor giant said it has hired more than 1,000 workers for its Phoenix plant so far and is working through construction challenges. In addition, TSMC highlighted the number of suppliers its working with in Arizona and its future plans for the state.
Source: phxbizjournal - 🏆 254. / 63 Read more »

ACE Awards: Phoenix-based RPG Brands had 'perfect storm' for growth - Phoenix Business JournalRPG Brands, which encompasses Modern Flames electric fireplaces, Grand Canyon Gas Logs, and Wildfire Outdoor Living, saw revenue double from 2020 to 2021 and won the Rookie of the Year honors at the 2022 ACE Awards. Here's how the company's president set RPG Brands up for success.
Source: phxbizjournal - 🏆 254. / 63 Read more »

LPGA Tour returns to Phoenix with new tournament in 2023 - Phoenix Business JournalAfter moving the Founders Cup from the JW Marriott Desert Ridge Resort to New Jersey in 2021 and not having a tournament in Phoenix in 2022, the LPGA announced Nov. 18 it would be returning to the Valley in 2023.
Source: phxbizjournal - 🏆 254. / 63 Read more »