Restaurants’ Long Losing Streak; Consumer Confidence; PPIP Details
Restaurants’ Long Losing Streak; Consumer Confidence; PPIP Details (Tuesday’s News & Notes)
David Bodamer
June 30th, 2009
Retail Traffic Court Blog
The National Restaurant Association’s Restaurant Industry Outlook Softened in May as Restaurant Performance Index Posted Firs... noted this marks the 21st straight month of traffic declines at res...s. The blog also produced a chart of the index going back to 2002, which you can view below.
Here are some other news and notes on retail and retail real estate from around the Web today.
* Bloomberg recapped a new CBRE report on retail rents on the world’s most expensive streets. The verdict? “Store rents tumbled in the world’s most expensive locations in the first quarter and will continue to decline through the middle of 2010.”
New York City kept its top rank from a year earlier as the most expensive retail market even as asking rents on Manhattan’s Fifth Avenue fell 10 percent to $1,800 a square foot per year, the Los Angeles-based commercial broker said in a report today. Rents in Hong Kong’s most desirable shopping area ranked second at $975 a square foot and Moscow was third at $790. Paris and Tokyo followed at $776 and $771, respectively.
“Everything cratered in the fourth quarter and that carried over into the first,” Ray Torto, global chief economist for CB Richard Ellis, said in an interview. “This is not a landlord market.”
* U.S. chain stores posted their best week since the beginning of the year, according to ICSC and Goldman Sachs. Sales rose 1.6 percent week over week.
* Consumer confidence fell in June following two months of gains.
* CNBC previewed the unveiling of further details of the Treasury Department’s PPIP program, which will take place tomorrow. There will be at least nine participants, including a joint venture between GE Capital and private investor Angelo Gordon & Co.
* REIT.com notes that new legislation signed into law by President Barack Obama on June 23 authorizes the administrators of the Thrift Savings Plan (TSP), the federal government’s defined contribution retirement program, to expand participants’ investment options, potentially including dist...
* Reuters provided an update on the CMBS market in the wake of S&P’s coming downgrades of some AAA-bonds.
* Our weekly newsletter story looks at the current state of concessions.
* Sears is offering buyers of appliances a guarantee in the event that they lose their jobs.
David Bodamer is Editor-in-Chief of Retail Traffic
Copyright ©2009 Penton Media, Inc. Reprinted with permission of Penton Media, Inc. All rights reserved.
David Bodamer
June 30th, 2009
Retail Traffic Court Blog
The National Restaurant Association’s Restaurant Industry Outlook Softened in May as Restaurant Performance Index Posted Firs... noted this marks the 21st straight month of traffic declines at res...s. The blog also produced a chart of the index going back to 2002, which you can view below.
Here are some other news and notes on retail and retail real estate from around the Web today.
* Bloomberg recapped a new CBRE report on retail rents on the world’s most expensive streets. The verdict? “Store rents tumbled in the world’s most expensive locations in the first quarter and will continue to decline through the middle of 2010.”
New York City kept its top rank from a year earlier as the most expensive retail market even as asking rents on Manhattan’s Fifth Avenue fell 10 percent to $1,800 a square foot per year, the Los Angeles-based commercial broker said in a report today. Rents in Hong Kong’s most desirable shopping area ranked second at $975 a square foot and Moscow was third at $790. Paris and Tokyo followed at $776 and $771, respectively.
“Everything cratered in the fourth quarter and that carried over into the first,” Ray Torto, global chief economist for CB Richard Ellis, said in an interview. “This is not a landlord market.”
* U.S. chain stores posted their best week since the beginning of the year, according to ICSC and Goldman Sachs. Sales rose 1.6 percent week over week.
* Consumer confidence fell in June following two months of gains.
* CNBC previewed the unveiling of further details of the Treasury Department’s PPIP program, which will take place tomorrow. There will be at least nine participants, including a joint venture between GE Capital and private investor Angelo Gordon & Co.
* REIT.com notes that new legislation signed into law by President Barack Obama on June 23 authorizes the administrators of the Thrift Savings Plan (TSP), the federal government’s defined contribution retirement program, to expand participants’ investment options, potentially including dist...
* Reuters provided an update on the CMBS market in the wake of S&P’s coming downgrades of some AAA-bonds.
* Our weekly newsletter story looks at the current state of concessions.
* Sears is offering buyers of appliances a guarantee in the event that they lose their jobs.
David Bodamer is Editor-in-Chief of Retail Traffic
Copyright ©2009 Penton Media, Inc. Reprinted with permission of Penton Media, Inc. All rights reserved.
Tags: &, commentary, estate, finance, investment, leasing, management, news, real, research
Comment
You Could Also Get Unique Insights for Your Business
Click here for more information about three powerful CREOpoint products to help you with reputation management, competitive intelligence and marketing communications planning:
1. Order your BrandMonitor
2. Order your Competitive Monitor
3. Order your Influencer Monitor
You Could Also Get or Share CREOpoint Content in Many Ways
The CREOpoint community is by invitation-only but you could get some premium CREOpoint content delivered directly to your inbox.
We will never sell your email and you may unsubscribe from our e-mail list at any time. You could also subscribe to our news, or print, share or save CREOpoint content.
Latest Activity
Excerpts from Steve's July 30th blog
"Some interesting takeaways I saw on CREOpoint.com. They have been hosting 'impromptu' get-togethers of CREOpoint members in various cities and the topics of discussion are pretty wide-ranging. But one topic…
Excerpts from Steve's July 30th blog
"Some interesting takeaways I saw on CREOpoint.com. They have been hosting 'impromptu' get-togethers of CREOpoint members in
various cities and the topics of discussion are pretty wide-ranging. But
one topic…
The number of homeowners missing their first payment on their mortgage declined from May to June and number of loans in foreclosure was flat at nearly 2 million. Delinquencies and Foreclosures remain stable but elevated with two loans deteriorating…
What techniques are pros using to evaluate possibilities for a really difficult distressed industrial property? What supply/demand factors do you look at and in how much depth?
© 2010 Created by CREOpoint.
You need to be a member of CREOpoint to add comments!
Join CREOpoint