Selling off real estate seen as a lifeline for ailing department stores
November 2, 2017
Cushman & Wakefield’s director of retail research for the Americas, Garrick Brown, sees major real estate sell-offs, such as Hudson’s Bay Company’s $850 million deal with WeWork, as more than just desperation moves. Department stores need operating capital for major technology, infrastructure and customer experience upgrades. Quickly-acquired revenue from the sale of flagship stores could be a smart way to finance the near-term turnarounds they need.
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