Britain's commercial-property market is showing signs of recovery, but for most firms that doesn't mean the battle for survival is over, analysts say. For the most desirable properties, values are stabilizing. But for everything less than the cream-of-the-crop assets, property values are still declining, although not as fast as they did last year.
Retailers including Macy's and Bergdorf Goodman are discounting more than in previous summers even though they have less inventory than before. U.S. consumers continue to stick to purchasing necessities because they remain worried about unemployment and the economy.
CB Richard Ellis Group said store rents in the most expensive places in the world will continue to fall through the middle of next year. While New York City remains the most expensive retail market, Hong Kong, Moscow, Paris and Tokyo round out the top five most costly locations.
Retailers are closely monitoring back-to-school sales. At J.C. Penney, for one, sales in states such as Florida and South Carolina, where the school year starts early, will inform inventory elsewhere, and back-to-school sales will determine holiday inventory.