“A quarter of all malls will close over the next five years”

Follow The Money

http://www.zerohedge.com/news/2017-05-31/one-banks-stunning-forecast-quarter-all-malls-will-close-over-next-five-years

One month ago, we first presented several striking charts and observations from Credit Suisse’s retail analyst, Christian Buss, who showed the extent of the devastation sweeping through the US retail sector.

To be sure, while the mass shuttering of retail stores – just today Michael Kors announced the company would close up to 125 full-price retail stores – has been a recurrent topic on this website as shown in the chart and most recently discussed in the context of the next “big short” trade, namely the ongoing collapse in the mall REITs and associated Commercial Mortgage-Backed Securities and CDS, one observation from Buss left us borderline speechless: “Barely a quarter into 2017, year-to-date retail store closings have already surpassed those of 2008.”

According to the Swiss bank’s calculations, on a unit basis approximately 2,880 store closings were announced as of the end of April, more than twice as…

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