I am a die hard CNBC watcher and have been for several years. I like the fact that they go way beyond the headlines and bring in every analyst possible to debate every aspect of a story.
I have been celebrating the holidays with family and have not had my CNBC fix for a few days (so I feel out of the loop) but I did watch Nightly News tonight. Tonight I saw some new numbers I had not seen yet.
- 800,000 retail jobs lost in 2008 and they said we are only half way through it.
- Out of Business- Linens & Things, KB Toys, Mervyn’s
- Store Closings - Foot Locker – 140 stores
- Starbucks – 600 stores
- Ann Taylor – 117 stores
- Zales – 105 Stores
Furthermore, they predicted that 25% of ALL retailers were gonna go out of business in 09. Of course, it was the nightly news and they consolidated the whole thing into 60 seconds so I missed out on all the details, debate, and analyst input I am so accustomed to on CNBC.
So what do you think? If 25% of all the retail stores in America are going to be vacant within 1 year, are we looking at a Commercial Real Estate crisis to follow?
Amazing Video Tours offers photography and full motion video marketing solutions to Realtors, and other individuals with property to sell, lease, or rent. A departure from the old fashion 360 Virtual Tour, Amazing Video Tours takes online property marketing to the next level.
Follow Us!