Foot Locker reported a much wider-than-expected fiscal first-quarter loss as its stores went dark during the pandemic and is temporarily suspending its cash dividend.
Some retail shops, restaurants, fitness centers, and movie theaters that survive the pandemic panic may be paying much lower rents in the coming years.
With its stores dark for half the quarter due to the COVID-19 pandemic and a weak e-commerce presence (or none at all for some of its brands), The TJX Cos. posted a much wider first-quarter loss than expected.
The Urban Land Institutes latest Real Estate Economic Forecast shows that investors have less to worry about than they did during the recession of 2008 — unless they happen to have large holdings in hotels or retail.