Welcome to the FIA News & Insights, a one-stop resource that includes insights from senior investment professionals on timely market events, their views on the economy and their respective markets. Find updates on the latest media information on Frost Investment Advisors, LLC and the most recent reprints, as well as, archival information for your reference.
Due to COVID-19, last year was a punishing time for retailers, including many in San Antonio. But 2021 may be even worse, at least one industry analyst warns.
Last year, industry observers expected 20,000 stores to close amid the pandemic and its economic fallout, but only 8,800 actually did, according to Frost Bank Portfolio Manager Tom Bergeron. That number was actually fewer than the 10,000 that closed in 2019.
But as retailers continue to struggle, Bergeron expects 10,000 more to shut their doors in 2021 due to financial difficulties. However, dollar store and high-end retailers may not need to worry.
"Brands in the middle are going to get hit the hardest," Bergeron said. "The sector decline will continue."
Excerpted from the San Antonio Current on Feb. 11, 2021. To view full article, click here.
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