Americans starting to return to shopping malls: Analyst
Here’s one sign of what some have called America’s “retail renaissance”: Shoppers have begun returning to malls.
Nancy Tengler, chief investment officer of Heartland Financial, said Tuesday on "Mornings with Maria" that besides strong quarterly earnings reports from Home Depot, Walmart, Kohl’s and Macy’s, among other retailers, the fact that shoppers are returning to malls is a strong indicator that the “sector is turning around.”
“The retailers have begun to figure it out,” Tengler said. “They have tried to make retail shopping an experience. I think you’re starting to see consumers also return to the malls, which has been helpful.”
She also said that Walmart may have some bumps, as profit “margins are going to get squeezed in the near-term.”
Besides the strong earnings, retailers also are hiring, but not because new stores are being opened, Tengler said, but rather because companies are focused on upgrading the quality of service being offered to brick-and-mortar shoppers.