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Recent News
Simon poised to rake in millions more in rent thanks to Saks Global closures
Saks Global's Chapter 11 bankruptcy filing has proven beneficial for Simon Property Group, which saw 1 million square feet of space vacated—almost entirely from Saks Off 5th closures—yet maintained occupancy levels equal to the end of Q1 as new tenants filled the space at higher rents. While Saks Off 5th had been paying $18 million in annual rent before ceasing payments after bankruptcy, Simon Property is confident new tenants will pay significantly higher rent, with initial base rent from new leases up 17% year-over-year through Q2 2026. Simon Property expects to collect $30 million in rent from new tenants filling just half of the closed Saks Off 5th stores in its portfolio, compared to the $18 million Saks Off 5th was previously paying. The landlord's $100 million investment in Saks Global's merger with Neiman Marcus gave Simon strategic leverage to exit or renegotiate unfavorable lease terms.
Numerator: Inflation cools, consumers still worried
In Numerator's July 2026 Economic Sentiment Tracker of over 2,000 U.S. consumers, 39% identified rising prices as their top concern for the coming year, nearly matching the record high reached in May 2026. Prices for everyday household goods decelerated in July 2026, decreasing by 0.4% after a 0.7% increase in June, with prices up just 2.6% over the past 12 months as annual inflation cooled following three consecutive months of acceleration. Low-income and Gen Z consumers continue to experience higher levels of inflation for everyday household goods, as prices have increased 35.1% and 39.0%, respectively, for those groups since January 2018 versus the 33.2% national average. Quick-service restaurant prices have increased 53.9% since January 2018, well above the 33.2% rise across the overall consumer basket, and consumers are adapting by trading down what they buy and where they shop.
Digital Brands Group enacts reverse stock split, gas prices up again
Digital Brands Group Inc. (NASDAQ: DBGI) announced a 1-for-40 reverse stock split of its common stock, effective July 24, 2026, at 12:01 a.m. Eastern Time, designed to raise the closing bid price of the company's stock above the $1.00 mark required for continued Nasdaq listing compliance. The stock currently trades at $0.64, down 93.56% over the past year, highlighting the urgency of the compliance measure. The reverse stock split will reduce outstanding common stock from approximately 23 million shares to approximately 575,000 shares, with every 40 shares of common stock automatically reclassified into one new share. In response to shareholder concerns, Digital Brands Group canceled 7.1 million pre-funded warrants and saw the expiration of 9.6 million cash warrants, eliminating a total of 16.7 million warrants.