It’s not all doom and gloom in the sector, New York retail broker says.
I have nothing but respect for the valuable historical perspective that Faith represents with her impressive track record over the years.
When she suggested “Q3”; I wondered, “I agree, Third Quarter; but ask myself, What year?”
The prime retail submarkets in the country may well come back on a more productive timetable than secondary and tertiary markets. We are looking at Q2 2011.
Do “shop-portunities for retailers” become opprtunities for investors?
Notwithstanding, my genuine regard for Faith’s impressive track record, I was struck by her optimistic suggestion regarding a Q3 uptick in the retail sector.
I thought, “Third Quarter….I agree; but which year?” We appreciate that in prime retail submarkets, like NYC, that may be hopefully true. I am trained in the “Howie Davidowitz School” and our sense is a bit more cautious, anticipating Q3 2010 or Q2 2011. I would prefer to be wrong on this one!!
Very enjoyable interview. Faith makes a great point about the retailers needing to retool and revitalize their concepts. In this economy,the consumer not ony wants value but excitement when it shops. Reruns won’t cut it anymore. New styles and formats are required to keep the shopping process vital. Landlords need to be part of the process by resetting their rental rates for more then just three to six months. It is going to cost retailers a great deal until they can hit upon sustainable new concepts suitable for national rollouts.At this time retailers can only fund these trial concepts out of cost reductions in their core concepts. While Landlord’s need to be selective, they would be wise to lock in(with long term rent incentives) those retailers with track records who will generate the new concepts which will be needed to absorb all the vacant commercial space.Landlord’s who create the right occupancy enviornments and relationships will have more than ample opportunity to take advantage of their foresight.
She is aptly named Faith, Hope and consolation.
She is not living in the real world.
This lady has absolutely no clue what she is talking about
This article keeps poping up everywhere. I’m glad to see someone speaking positively, but with employment poised to fall futher, the family on Main Street will not have the discretionary income, esp when they are saving 7% and actually paying their cards down. I like her, but I say she is not dealing with reality until late 2010.
I have a lot of respect for Faith Consolo. But until I see people being hired and 401K’s steadily growing, I don’t think I will see healthy retail sales. This is not a boomerang. A return to profit will be slow and gradual. There will not be a point where we say “Great. We are back!” Not going to happen.
But as retailers shrink their offerings and their space sizes, profitability will come along with it. Slow but sure.
Is she serious saying that customers are trying to help the retailers? Who is going to help the customers get more disposable income. Where are customers getting the money from, since the unemployment roles will continue to grow, until our government starts to find solutions to what they are going to do to reduce unemployment and help smaller businesses get reasonable loans.
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