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Retail real estate recovery still on, says CBRE
Los Angeles -- For the second consecutive quarter, the retail availability rate has fallen 30 basis points, according to the latest analysis from CBRE Group. The rate now stands at 12.2% and testifies to improved retailer confidence as consumer spending continues to rebound.
The availability rate tracks space that is actively being marketed and available for tenant build-out within 12 months.
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Tuesday Morning Q4 sales up 2.9%
Dallas -- Tuesday Morning Corp. reported that its fiscal fourth-quarter revenue rose 2.9% to $202.1 million. Same-store sales for the period ended June 30 increased 4.6%.
The discounter Tuesday Morning Corp. said traffic climbed 6.2%. The average receipt fell 1.6%.
The retailer's full-year revenue was up 3% to $838.3 million from $812.8 million. Same-store sales rose 3.9%.