Consultants who help store owners wring concessions from landlords are seeing brisk business these days, another ripple of the shifting retail landscape across the U.S. economy, the Wall Street Journal reported today. The rise of online shopping and changing consumer preferences are forcing retailers to rethink virtually all aspects of their operations. First on the list for many is real estate, which is typically the second-biggest cost, after payroll. As store owners scrutinize their store footprints, they are turning increasingly to professionals who can help them get better deals from landlords. A growing roster of retailers, including Bebe Stores Inc. and Pacific Sunwear of California Inc., are tapping lease-consulting firms to get landlords to agree to take less money. Landlords say they will make their own assessment by studying the tenant sales at the store, its rent-to-sale ratio and how that compares to the retailer’s national average and the national average of the industry.
