Greyfield redevelopment : old malls seek new life
Richmond retail : open-air centers compete for luxury shoppers
Opinion : hey, a little service here?
Economic history: Rooftops and retail
What do chain store sales tell us about consumer spending?
In recent years, the sales reports of major retail chains have received increasing attention as timely indicators of consumer spending. Despite this attention, a close review of the literature on chain store indexes as macroeconomic indicators reveals that there is no literature! This paper fills this gap, showing how chain store data fit into the broader issues of how we measure and forecast consumer spending. We describe the linkages between chain store data and official measures of consumer spending, highlighting the key seasonality and pricing issues. We then present a battery of ...
Retail inventories, internal finance, and aggregate fluctuations
We investigate the implications of capital market imperfections for inventory investment in retail trade, using a new source firm-level data--the micro data underlying the published Quarterly Financial Reports. An error-correction model that includes internal funds and forward-looking expectations for the stochastic process of sales is not rejected by the data. Both the cross-sectional and time-series results are consistent with the existence of significant capital market frictions in the retail trade sector: (1) for firms with limited access to capital markets, internal funds are a ...
Retail vacancy rates are up in the district, especially for strip malls.
Thomas J. Holmes on Wal-Mart's location strategy
Holmes describes Wal-Mart's location strategy and possible implications for the Ninth District.
A specialized inventory problem in banks: optimizing retail sweeps
Deposits held at Federal Reserve Banks are an essential input to the business activity of most depository institutions in the United States. Managing these deposits is an important and complex inventory problem, for two reasons. First, Federal Reserve regulations require that depository institutions hold certain amounts of such deposits at the Federal Reserve Banks to satisfy statutory reserve requirements against customers* transaction accounts (demand deposits and other checkable deposits). Second, some inventory of such deposits is essential for banks to operate one of their core lines of ...
Shopping discount: hip or hype?
The past decade has seen a proliferation of factory outlet stores and centers, many of which are located in the Fifth District. Some are even tourist attractions. But will these outlets continue to succeed in the '90s?