Saks Global is feeling the pressure in 2025, shuttering a Tennessee fulfillment center and cutting 450 jobs as it grapples with rising tariffs, vendor disputes, and slumping consumer spending. The luxury retailer—already downsizing after its $2.7 billion Neiman Marcus acquisition—is now racing to slash $500 million in costs through more layoffs and store closures. Analysts warn that Saks, like Kohl’s, is especially exposed to the economic ripple effects of new U.S. trade policies. With tensions rising and confidence wavering, competitors like Nordstrom may be poised to swoop in on Saks’ shaken customer base.

Chicago’s hotel industry made a roaring comeback in 2024, breaking revenue records thanks to major events like the Democratic National Convention and Lollapalooza. But just months later, sweeping federal policy shifts — including new tariffs and immigration crackdowns — have shaken confidence in the travel sector, particularly among international tourists. Analysts warn that fears over safety and rising anti-U.S. sentiment could slash billions in tourism revenue and reverse the city’s hard-won post-pandemic gains. Though the long-term outlook remains uncertain, hotel operators are bracing for a bumpy ride, trimming costs and revising forecasts as they navigate what could be a turbulent year ahead.

In a refreshing twist amid a wave of retail closures, Barnes & Noble is making a major comeback—opening more than 60 new stores across the U.S. in 2025, including two in Florida. While many companies are downsizing or filing for bankruptcy, the iconic bookseller is thriving by empowering local booksellers and focusing on strong in-store experiences. Florida readers can now enjoy brand-new stores in Naples and Tequesta, with Naples’ location even taking over a former Big Lots. This surge in growth marks the company’s most ambitious expansion in over a decade, signaling a renewed appetite for brick-and-mortar bookstores in a digital age.

After a strong start to 2025—with the most office leasing activity since 2019—the fragile rebound in the U.S. office market is facing fresh headwinds. Rising fears of a recession and Trump’s tariff push are shaking business confidence, causing some companies to pause leasing plans just as momentum was building.

Higher tariffs could spark inflation and interest rate hikes, slowing new development and complicating long-needed conversions of outdated office buildings. Cities, still reeling from pandemic-era vacancies, risk further setbacks as financial uncertainty makes both tenants and lenders nervous.

As one expert put it: “Uncertainty is the kryptonite of the commercial real estate market.”

With Party City out of the game, Michaels is making a bold move to become the go-to destination for all things party. The retailer is expanding its balloon and party supply offerings, rolling out over 300 new balloon options and increasing party products by 200% this August.

Michaels is also enhancing in-store experiences with bookable birthday parties, grab-and-go balloon bouquets, and creative events like “MakeBreaks” and “Safari Saturdays” for kids. After hosting nearly 5,000 parties in 2024, Michaels is doubling down on its mission to help customers celebrate, craft, and connect—all under one roof.

Construction material prices rose for the third straight month in March, with commercial construction inputs jumping 0.9%. Prices are now up nearly 43% since early 2020. While crude petroleum costs dipped, that was outweighed by sharp increases in natural gas, steel, copper, and lumber.

ABC’s chief economist warns that if these rising costs continue, they could start delaying or derailing projects — even with contractors still busy for now.

The federal government’s cost-cutting drive, led by Elon Musk’s Department of Government Efficiency (DOGE), is hitting Vermont—hard. Leases for three federal buildings in Barre, Burlington, and St. Johnsbury have been terminated, with DOGE claiming over $260,000 in savings. Meanwhile, a broader federal plan to offload “non-core” properties could affect more Vermont locations, including the Social Security office in Montpelier and the historic Customs House in St. Albans.

Despite a return-to-office push, the government continues to shrink its real estate footprint, leaving Vermont landlords in limbo. With office vacancies already hovering around 12% and rising interest rates discouraging lending, the local commercial market is feeling the squeeze. Small office spaces under 5,000 square feet may still move—but uncertainty looms for larger leases and federal tenants.

Indoor malls are making a surprising comeback. After years of trailing behind open-air and outlet centers, enclosed malls saw a 1.8% rise in foot traffic this March, surpassing their open-air counterparts. The rebound, driven in part by younger and more affluent shoppers, suggests a renewed interest in the classic indoor mall experience.

Placer.ai credits this shift to consumer confidence and revitalization efforts at top-tier malls, including major investments like Walmart’s and Simon’s acquisitions. Still, visit durations remain shorter than pre-pandemic levels across all mall types—proof that the retail landscape is evolving, but hasn’t fully bounced back just yet.