Malls around the nation that had been closed since March to prevent the spread of COVID-19 began opening within the last two weeks, but foot traffic remained anemic, according to data from Placer.ai.
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Retail sales in the U.S. plummeted 16.4 percent in April, for the largest two month decline, according to the Commerce Department. That followed an 8.3 percent plunge in March.
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Retail workers livelihoods are under siege as the industry battles the financial fallout from the COVID-19 pandemic.
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The New York State Assembly unanimously passed legislation this week that would establish clear and unambiguous guidelines for assessors to utilize when formulating assessments (A4752-C).
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Express, the trendy apparel store with locations in the Palisades Center and The Shops at Nanuet plans to close about 100 stores by 2022, including nine already closed last year, 31 by the end of this month and 35 by the end of January 2021.
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Rockland County in 2018 ranked third among New York’s 62 counties for the fastest pace of business growth, according to Smart Asset, a financial tech company that bases rankings on business growth, GDP, new building permits and federal funding.
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Teenagers or Gen Xers are spending less as they worries about the economy become more potent
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Some 17% retailers covered by S&P Global remain financially vulnerable, according to a report this week from the ratings agency. Big boxes and chain restaurants make up the most significant portion of the distressed companies.
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Westchester-based Party City will close 45 stores in 2019, the company said last Thursday when announcing its financial results for the first quarter of 2019.
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Clarkstown’s Route 59 retail corridor runs the risk of becoming a monoculture if it continues to over-rely on a homogenous mixture of retail and fast-food restaurants, particularly as large chains and big boxes are disappearing.
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