Shoppertrak research indicates that foot traffic fell 1.6% over Thanksgiving weekend year over year and historically is significantly lower. Retailers and property owners must come together to create better omnichannel offerings to remain competitive, Pamela Danziger writes.
Outdoor clothing and gear retailers including REI, Patagonia and North Face are taking a stand in response to President Donald Trump's plan to significantly cut the size of two national monuments in Utah. Patagonia said it would file a lawsuit to challenge the move, and at least three other lawsuits have already been filed by interest groups.
Dollar General's low-price model is gaining ground in rural communities where residents are struggling financially, and the 14,000-store retailer plans to open thousands more locations. "The economy is continuing to create more of our core customer," CEO Todd Vasos said.
Target will expand its smaller-format store concept into new markets next year as part of a push to grow the concept from 59 to 130 locations over the next two years. The retailer will open a 54,700-square-foot store in Dallas and two smaller locations in the Massachusetts towns of Burlington and Cambridge.
About 19% of consumers will definitely spend on themselves this holiday season, and an additional 40% are thinking about it, per an NPD Group survey. "When the economy is doing well, and the consumer is feeling confident ... that gives us the ability to spend and buy for ourselves more freely," NPD Group analyst Marshal Cohen said.
Morgan Stanley has launched Access Investing, an online platform that aims to boost advisers' sales opportunities and to attract younger, tech-savvy investors. The platform has an annual fee of 0.35% of assets under management, undercutting some competing products but costing more than similar services from Charles Schwab, Fidelity Investments and Vanguard.
The US trade deficit increased by 8.6% in October to reach $48.7 billion -- the highest level in nine months, according to the Commerce Department. There are concerns that the trade deficit could drag down the economy in the final quarter of 2017.
American Campus Communities and EdR, formerly Education Realty Trust, are increasingly using public-private partnerships for on-campus student housing. "The pursuit of these developments is very involved and time-consuming, and we are excited to see our hard work paying off," says Thomas Trubiana, president of EdR.
The trend of consumers renting homes has "long-term staying power," according to Scott Schaeffer, chairman and CEO of Independence Realty Trust. The REIT's decision to migrate to an internal management model is giving the REIT an immediate $2.5 million savings in general and administrative expenses, he says.
The increase in defense spending has fueled robust leasing activity for Corporate Office Properties Trust, says Steve Budorick, president and CEO. At the same time, the REIT is focusing on urban office properties, with Budorick pointing to a joint-venture development in Washington, D.C., that is 43% pre-leased.