-
Report: Retail rents rising and vacancy rates falling in 2016
Though it forecasts a stronger-than-anticipated closure season, Cushman & Wakefield sees average retail rents ending the year 4.6% higher than they were in 2016. The company’s U.S. Macro Forecast released this week said that consistent demand for space in Class A retail centers is the biggest factor in rental-rate growth. Cushman analysts also predict that 2016 will see a drop in the retail vacancy rate to 5.8% from 6.6% last year — though they see it moving back up to 6% in 2017. -
Sales keep sliding at J.Crew
J. Crew Group’s efforts to pump up sales at its core brand didn’t quite take off in the second quarter. Total revenues at J.Crew Group decreased 4% to $569.8 million in the second quarter. Total same-store sales fell 8%, its eight consecutive quarterly decrease, with a 9% decline at the company’s namesake brand and a 3% increase at Madewell. J. Crew reported a net loss of $8.6 million, compared with $13.6 million a year ago.

