) Chief Executive Officer Jide Zeitlin has been negotiating lower rents for the company’s Coach and Kate Spade stores for more than a month, using the brands’ power to draw in U.S. mall traffic as leverage in tough talks with landlords.
The company, whose handbags have won it a place among the big names of the fashion world, is just one of a raft of major U.S. retailers seeking to lower rent bills to make sure they have enough cash to weather the COVID-19 pandemic. Mall operators collected only 15% of April rent and trends are looking worse for May, according to CenterSquare Investment Management, which specializes in real estate.
But the talks are still “challenging and difficult” and he has a warning for his landlords: “What they need to do is be really thoughtful about not killing the goose that lays the golden eggs,” he told Reuters last week. Retail rents in the United States have increased by 2.6% a year over the past three years, and currently average $21.80 per square foot, according to real estate analytics company CoStar Group .
'Mall operators collected only 15% of April rent and trends are looking worse for May' 😬 Commercial real estate starting to unravel...
RENT FORGIVENESS... Representative Ilhan Omar has a program for individuals to be forgiven rent and mortgage on their apartments and homes. The same should be done for retailers, especially small businesses. They need read forgiveness or they will fold
Both are doomed as long as Trump is president.
My mom says i'm beautifull!! Is it truee?
Sheriff sale!
if u need satisfy maybe i can help you with my pics 💞
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ELLE Magazine (US) - 🏆 472. / 51 Read more »
Source: wwd - 🏆 24. / 68 Read more »
Source: enews - 🏆 466. / 52 Read more »
Source: ELLE Magazine (US) - 🏆 472. / 51 Read more »
Source: ELLE Magazine (US) - 🏆 472. / 51 Read more »
Source: voguemagazine - 🏆 715. / 51 Read more »