U.S. Landlords, Retailers Play Hardball As Mall Rent Collections Plunge
May 11, 2020
Tapestry Inc. chief executive officer Jide Zeitlin has been negotiating lower rents for the company’s Coach and Kate Spade stores for more than a month, using the brands’ power to draw in U.S. mall traffic as leverage in tough talks with landlords. The company, whose handbags have won it a place among the big names of the fashion world, is just one of a raft of major U.S. retailers seeking to lower rent bills to make sure they have enough cash to weather the COVID-19 pandemic. Read more at Reuters.