Friday, May 1, 2020

As Stores Re-Open This Month Will Mall REITs Get Their Rent?

Globe St.
Retailers are tentatively re-opening the stores that were shuttered in mid-March due to Covid-19.

On Monday Macy’s is planning to reopen 68 department stores in states that will permit it. Then, over the next six weeks it plans to reopen all of its 775 stores, including its major flagships in Manhattan.

Even those retailers that are less bold are making plans for re-opening. Apple may open a few stores in the first half of May, Apple CEO Tim Cook told Bloomberg but “not a large number.” . . . more