Wednesday, January 22, 2020

Decelerating

Pier 1 Imports will close about 57 locations in its current fiscal year, higher than its previous estimate of 45. Pier 1 currently has 967 stores...Macy’s plans to close 28 Macy’s stores and 1 Bloomingdales…Bed Bath & Beyond Inc. has entered into an agreement to sell approximately half its real estate to generate capital. The home furnishings retailer has completed a sale-leaseback transaction with an affiliate of Oak Street Real Estate Capital. The properties sold represent approximately 2.1 million s/f of space, including retail stores, a distribution facility, and its headquarters in Union, NJ. Bed Bath & Beyond will continue to occupy the properties through long-term leases...J.C. Penney is closing 6 stores by the end of April. The company said the decisions are part of an annual review of its 846 stores and other operations.

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