A congressional deal to end the shutdown may be an early Christmas gift for shoppers—and coal for retailers.
By staving off a Treasury default until after the New Year, the government also extended uncertainty, according to analysts.
News
Shopping forecasts don’t thrill retailers
Justine Griffin/Sarasota Herald-Tribune—Economic uncertainty surrounding the government shutdown has been pushing American consumers to take a conservative approach to spending this holiday season. The National Retail Federation predicts that the average shopper will spend $737.95 on gifts, holiday-themed decor, greeting cards and more this year, down from the $752.24 average shoppers spent in 2012. The […]
Government shutdown affecting shopping patterns
Justine Griffin/Sarasota Herald-Tribune—Economic uncertainty surrounding the government shutdown is pushing American consumes to take a conservative approach to spending this holiday season. The National Retail Federation predicts that the average shopper will spend $737.95 on gifts, holiday-themed decor, greeting cards and more this year, which is two percent less than the $752.24 average shoppers spent […]
Government shutdown expected to slash Halloween sales
NBC New York—People expected the federal government shutdown to have a lot of negative effects, such as cuts to senior benefits, employee furloughs and national parks closures. But who could’ve predicted that Halloween would be taking a hit as well? According to the NFA, the shutdown and overall state of the economy will be weighing […]
Black Friday lesson in Target’s Phillip Lim launch
Kelli Grant/CNBC— This year, Black Friday shoppers may want to take a leaf from 3.1 Phillip Lim for Target devotees. Some social media savvy shoppers were able to beat the crowds by hours to snag coveted items. Signs pointed to Target’s collaboration with designer Phillip Lim selling out quickly when it launched Sunday. Oh boy, […]
What Vornado’s 655 Fifth Ave. Buy Means for Manhattan’s CRE
Gail Kalinoski/Commercial Property Executive—Vornado Realty Trust has grabbed another prime Fifth Avenue location just as the retail rents there are passing $3,000 per square foot, paying $278 million for a majority stake in 655 Fifth Ave., a retail and office property with 50 feet of frontage on Manhattan’s Fifth Avenue. Vornado, a Paramus, N.J.-based REIT, […]
