When the same-store figures for April came in showing it had been the worst month in the nearly 40 years that stats have been tracked, one had to wonder if it was the beginning of the death knell of the American consumer.
Not so at the convention.
“Retailers aren't looking at April,” says Greg Maloney, president and CEO of retail for Jones Lang LaSalle. “Every single retailer I talk to says they're looking at the first four months together.”
One professional who is worried is Eric Lutz, principal of Lutz Real Estate Investments, who says April sales were a preview of what's to come. “If you thought your house was worth $100,000, and now you realize it's worth only $30,000, you are more hesitant to go to the mall,” Lutz says.