April Retail Sales Fall, but Realty Income Appears Solid
Recently, the U.S. Census Bureau released its estimate of April retail sales. Overall sales fell 16.4% from March and were down 21.6% versus a year ago. This is a breathtaking drop in sales never experienced in the U.S. before, at least since we have been keeping records.
Clothing and accessory sales were down 89% year over year. This is a nightmare for mall real estate investment trusts (REITs), and many are struggling with tenants that can't make the rent.
But how is the crisis affecting the triple-net lease REITs?
Source Fool.com
