How retailers are faring amid the holiday shopping season
Jim Taylor, the CEO of Brixmor Property Group, joined TheStreet to discuss how retailers are gearing up for the holiday shopping season.
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00:00 - Bricksmore has property that is home
00:01 to a lot of big name retailers.
00:03 We're talking TJ Maxx, Burlington, Kohl's,
00:05 just to name a few.
00:06 Jim, how are these retailers best preparing
00:09 for the heart of the holiday shopping season?
00:11 What are you seeing?
00:12 - Well, we're seeing great traffic into our centers
00:15 and the retailers, like those that you mentioned
00:17 and many others, I think are very pleased
00:20 with the strength of the consumer
00:21 and importantly, how the store serves the consumer.
00:25 You know, we're a retail landlord
00:27 with about 360 properties across the US,
00:31 tenanted by great retailers like TJ,
00:34 like Publix, like Kroger, Burlington, and many others.
00:38 And, you know, the retailers themselves are finding
00:41 that the stores are a great way to connect with
00:43 and serve the consumer.
00:45 So as they go into the holiday season,
00:47 I think they're seeing great traffic.
00:49 Obviously, Black Friday was strong,
00:51 but we're seeing overall strength in traffic
00:53 even past Black Friday.
00:55 - How are you seeing the companies position themselves,
00:58 maybe a little bit different for this year's holiday season
01:01 than maybe what we've seen in the past, I wonder?
01:03 - Well, I think they've gotten a handle on the inventory,
01:06 right, and you've seen many retailers come out
01:09 and drive profitability from an inventory perspective
01:12 by reducing what they have in the store.
01:15 I think they're improving the overall mix
01:18 and offering to the consumer
01:20 and really giving the consumer multiple reasons
01:23 to come into the store.
01:25 And again, I think that that's been part of the success
01:29 that's driving these retailers.
01:31 Now, one thing to appreciate is that these retailers
01:35 also look out and see potential weakness in the consumer.
01:39 And so they're positioning for that, to remain competitive,
01:42 to remain a compelling value proposition
01:44 as many of our retailers are,
01:47 and again, to give the consumer a reason
01:49 to come into the store.
01:51 We're a retail landlord, as I like to say.
01:53 We're not directly in the retail business.
01:56 We lease properties that retailers wanna be at.
02:00 And I think that's important to appreciate,
02:02 and the retailers themselves understand that as well
02:05 as it relates to our business,
02:07 because they're committing to stores
02:09 well into 25 and beyond.
02:11 So whatever retail or consumer softness we may see
02:16 over the coming periods,
02:17 I think the retailers are well-positioned for it.
02:20 Their balance sheets are stronger.
02:22 They've come through the pandemic better.
02:24 So I think we're well-positioned for whatever lies ahead.
02:29 - We.
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