Reply to U.S. Annual Inflation rose to 6.8% in November

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Apparently inflation is not putting a damper on shopping habits, particularly in the metro DC area. I was at Tyson’s mall Saturday afternoon and I have never seen so many shoppers, not even right before Christmas in pre-Covid years! [/quote]

Guess you missed the impending closure of both the LLBean in Tysons and the Bed, Bath, and Beyond also in Fairfax?

https://www.tysonsreporter.com/2021/12/29/l-l-bean-is-closing-its-tysons-corner-center-store-next-month/

https://www.insidenova.com/headlines/bed-bath-beyond-closing-store-in-fairfax/article_388db266-51b5-11eb-923d-8313b5acfd6c.html[/quote]

Nope, I did not miss it. But the cause of LLBean's closure has more to do with landlord-tenant issues than with the dominant narrative on this thread--Democrat-led inflation. LLBean is looking for another retail location--they are not gong out of business.

Since you brought up the LL Bean example, you may want to read this more nuanced discussion about the matter (see link below). Sounds like the mall owner probably raised the rent on LLBean to an unacceptable level or tried to renegotiate leasing terms. Mall owners are now in a stronger position to once again raise rents and demand terms that may not be acceptable to businesses. I live in the Vienna-Oakton area and have seen quite a few stores/restaurants close over the past two years--but many, if not most, have re-opened elsewhere and new businesses have moved in to the shuttered storefronts.

As for the larger retail picture according to the article, "[b]Retailer demand is at a level we have not seen since 2015[/b]," Macerich CEO Thomas O'Hern told analysts in November, according to a Seeking Alpha transcript. "We expect traffic to continue to increase. The current level is over 95% of the 2019 traffic levels." O'Hern added that [b]leasing volume for the full year exceeded 2019 levels and was at its highest point since 2015.[/b]  The executive called out [b]strong consumer demand and a dramatic slowdown in retail bankruptcies[/b]..."

It looks like Covid forced some restructuring of retail markets but, several years in, demand for retail goods and traffic in malls is very high. Again, this is for the Norther VA area and may not apply to the situation elsewhere.

https://www.retaildive.com/news/ll-bean-to-close-tysons-corner-store-in-northern-virginia/616682/
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We can also add Williams Sonoma closing in the same Tysons Galleria. I'm sure you have an awesome spiel about that one as well. [/quote]

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