Friday, October 21, 2016

U.S. mall investors set to lose billions as retail gloom deepens

A woman walks by a discount sign at an Abercrombie & Fitch store at a shopping mall in Garden City, New York, U.S. on November 28, 2014. REUTERS/Shannon Stapleton/File PhotoThe dramatic shift to online shopping that has crushed U.S. department stores in recent years now threatens the investors who a decade ago funded the vast expanse of brick and mortar emporiums that many Americans no longer visit.

Weak September core retail sales, which strip out auto and gasoline sales, provide a window into the pain the holders of mall debt face in coming months as retailers with a physical presence keep discounting to stave off lagging sales.. . . more

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