Happy Friday, investors and brokers! In today’s commercial real estate news, a write-up on Dodd-Frank’s slow roll out, a chastising of luxury brands slow online adoption, and Whole Foods struggles for its sixth straight quarter.
Despite being around for nearly 7 years now, nearly a third of Dodd-Frank’s regulations never been implemented. Lawful review and oversight committees have slowed down sections of the gigantic regulations bill. Donald Trump has promised to repeal broad swaths of it.
Luxury brands are struggling in the age of e-commerce. The companies are slower to adapt their websites, due to a lower amount of customer data when compared to their cheaper competitors. Overall, online sales account for only 8% of the luxury market’s revenue. Brands with broader appeal have more than double that.
Shares in Whole Foods shrank by 2.1% after posting its sixth straight quarter of store revenue decline. The natural grocer faces mounting pressure from online retailers like Amazon and Blue Apron. The company will be closing nine stores and “examining every aspect of [its] retail operations,” according to co-founder John Mackey.