Gap closing hundreds of stores, hotels into apartments, reeling REITs, Party City not investing in Halloween so much, and a look at a millionaire-making REIT.
In Today’s News
Gap Inc. Closing 350 Stores in Transition From Malls to E-Commerce
More bad news for the beleaguered brick-and-mortar crowd as Gap (NYSE: GPS) announces plans to close 350 Gap and Banana Republic stores, including about 225 in the next year.
Why it matters: Wall Street loved the news, driving up the company’s stock, but retail REITs, and those who own them, may not feel the same about the coming gap in those portfolios if these stores are currently their tenants.
Turning Guests Into Tenants, Hotels Into Apartments
The hotel business is in a world of hurt. Could some of these depressed properties get new life as apartments? It’s happening already.
Why it matters: This GlobeSt.com piece focuses on the Los Angeles market,