But a few key reminders can protect investors, says Patrick Toomey of Faris Lee Investments in this EXCLUSIVE interview.
By Geoffery Metz |
Updated on November 28, 2017
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Patrick Toomey: Retail is like any other business, and those that fail to evolve and remain relevant become irrelevant and often extinct. Technology and ubiquitous access to information is changing how we think, how we shop, and how we invest. It’s just an evolution, and savvy businesses adapt and evolve to keep up with their customer. Retail is an interesting, dynamic and fluid industry, that flows and changes based on consumer trends, tastes, and budgets, among other things.
So, I would say that there is concern for retailers shuttering stores, but it relates more to cases of them not willing or able to adapt, debt loads, inefficient store size, or non-compatible co-tenants, among other reasons. For instance, retailers and restaurants this year will have opened 4,080 more units than they have closed. Also, a retail analyst shared that 2,783 store closings in specialty soft goods are attributable to just nine retailers. All is not lost, but there are changes occurring.
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