a lot of regionals have a lot of CRE exposure
there was a story last week about how Steve and Barry's going chap 11 is bad for malls. apparently malls gave money to Steve and Barry's to fund it's expansion. they were supposed to pay it back through rent. now they won't.
retail sales are pretty bad. i'm seeing discounts i haven't seen since 2001 and 2002. two weeks ago bought me 2 pairs of Ecco shoes at Nordstrom for $200. Last year they were $150 each or more. Now i have to work on replacing most of my 5 year old designer jeans
there was a story last week about how Steve and Barry's going chap 11 is bad for malls. apparently malls gave money to Steve and Barry's to fund it's expansion. they were supposed to pay it back through rent. now they won't.
retail sales are pretty bad. i'm seeing discounts i haven't seen since 2001 and 2002. two weeks ago bought me 2 pairs of Ecco shoes at Nordstrom for $200. Last year they were $150 each or more. Now i have to work on replacing most of my 5 year old designer jeans