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Palomar Press Briefing | March 31, 2021

 

 



 INDUSTRY NEWS

March 31, 2021

 

IF HE WINS, HE’S IN!


Watch Palomar Brand Ambassador, Greyson Sigg, as he competes in the Valero Texas Open this Thursday. With his strong top 10 finish in the Puntacana Championship last week, if he wins Valero, he earns the final open spot in the 2021 Masters! Golf Channel will carry live coverage on Thursday and Friday from 4-7 p.m. and Saturday from 1-3:30 p.m. EDT.

 

REITS ROSE LAST WEEK


REIT share prices rose last week, with a 3.4% total return on the FTSE Nareit All Equity REITs Index. Last week’s gains lifted year-to-date returns to 9.6%. Broader markets also rose, albeit a bit more modestly, with a 1.3% return on the Russell 1000. Nearly all property sectors had positive returns last week. 

 

SURGE IN CONSUMER SPENDING POISED TO MAKE 2021 A RECORD YEAR FOR RETAIL


Stimulus checks, warmer weather, loosening coronavirus pandemic restrictions and a brisk pace of Covid-19 vaccinations are all combining to spur a surge in consumer spending that might make 2021 a record-breaker. After a cold snap nationwide put the brakes on retail sales in February, a surge in underway in March.

 

ANALYSIS: BIG GOVERNMENT SPENDING CREATES OPPORTUNITIES, WORRIES FOR CRE


The U.S. federal government has passed an unprecedented $5.3 trillion of stimulus as part of the effort to recover from the COVID-19 pandemic, and trillions more of infrastructure spending appears to be on the way. 

 

REPORT DETAILS FIVE MAJOR PANDEMIC-ERA CONSUMER TRENDS IMPACTING RETAIL


More than a year after the COVID-19 pandemic officially began in the United States, its impact on consumers and the retail industry has emerged. A focus on health, at-home moments, comfort and indulgence, e-commerce and value are the five major themes that have largely defined pandemic-era consumer behavior.

 

KROGER LOOKS TO MAKE ONLINE GROCERY ORDERS MORE PROFITABLE, DOUBLE DIGITAL SALES BY END OF 2023


Kroger said Wednesday that it aims to double its digital sales by the end of 2023, as it races to keep up with grocery shoppers who have gotten used to stocking their fridges online during the pandemic.

 

UP TO $28B IN DISTRESSED RETAIL COULD HIT THE MARKET IN THE NEXT 24 MONTHS


As the U.S. enters year two of the COVID-19 pandemic, strip centers and malls, which have had most of the exposure to retail tenants that have struggled from a sales perspective, stand at the greatest chance of experiencing property-level distress in the months to come.

 

DATASSENTIAL: MORE THAN 10% OF U.S. RESTAURANTS HAVE CLOSED PERMANENTLY


More than 10% of restaurants in the United States have closed permanently since the coronavirus pandemic began last March, foodservice research firm Datassentail said Monday. According to Firefly, Datassential’s proprietary database, 79,438 restaurants in the United States have closed.

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