Stock prices plunged for the Chesapeake-based Dollar Tree. Montgomery Ward called it quits after 128 years of business. The answer depends on whom you talk to and where you're talking about. Slipping consumer confidence and a lag time for declining interest rates to trickle down to the masses will put a damper on retail sales this year, Yochum explained. On the flip side, local retail leasing is strong, said Michael Gurley, a senior vice president with S.L. Nusbaum Realty Co., a firm with 7.8 million square feet of retail space under its management umbrella.
Military money is always an influence.
The recent dip in interest rates will eventually make mortgage loans cheaper, which encourages homeowners to refinance. They usually borrow a little more than they need and splurge with it at the furniture store or car lot. Retailers, he said, will mirror that caution. Movie theaters are experiencing a shake-out. Modern megaplexes are swamping the industry with screens, diluting box office takes and forcing the weak to close.