retail news in context, analysis with attitude

•  From CNBC:

"So far this year, retailers in the U.S. have announced 4,432 store openings, compared with 1,954 closings, according to data from Coresight Research, resulting in a net of 2,478 openings.

"Before the pandemic, the industry was seeing net closures of thousands of stores every year as consumers increasingly moved their spending online. In 2019, Coresight tracked 9,832 closures, compared with 4,689 openings. Last year, the retail industry eked out a net addition of 68 stores."

The story points out that "the biggest shopping mall owners in the United States say retailers are still forging ahead with plans to open new stores in spite of growing recession fears and decades-high inflation that’s squeezing shoppers’ budgets.

"Simon Property Group, the country’s largest mall owner, said the pipeline of businesses slated to open up at its properties remains strong. The company reported an occupancy rate at its U.S. malls and outlet centers of 93.9% as of June 30, up from 91.8% a year earlier."