FT SeriesRetail: clearance saleOnline shopping’s disruption of the US retail sector poses challenges and opportunities for investors trying to stay one step ahead US retail’s turbulent relationship with private equityFT research shows many of the largest leveraged buyouts in the sector over the past decade have either defaulted, gone bankrupt or are in distress‘Retail apocalypse’ trade prompts contrarian betsSome hedge funds start to see value in shares of battered bricks-and-mortar storesIn charts: how US retailers fared as Amazon powered aheadInvestors have made a decisive bet that some traditional stores will not surviveWill the death of US retail be the next big short?In the first of a series looking at the rise of online shopping, the FT assesses how damaging the ‘Amazon effect’ could be for traditional retailersInvestors build contrarian bets on US bricks-and-mortar retailersA handful of funds see value in depressed US retail stocks including Macy’s and JC PenneyS&P pushes more US retailers deeper into junk18% of retailers’ debt now rated ‘CCC’ or lowerMore from this SeriesBanks use secured lending to sidestep retail lossesLenders insist on safe form of financing for troubled sectorFunds hunt for cracks in most-prized US shopping mallsInvestors begin to doubt the highest-rated properties will escape online disruptionBlackstone warns of internet impact on US shopping mallsWorld’s largest real estate investor sees mounting ‘secular’ pressures on US retailWhy are hedge funds raising their bets against US shopping malls?Level of short interest in some of the largest operators has been increasing steadilyRetail woes lead to rising commercial mortgage delinquenciesFigures show worst situation since 2013 as investors balk at refinancingThe Amazon effect convulses a febrile Wall StreetOnline retailer’s expansion leaves other retailers — and their investors — on edgeEcommerce isn’t all gloom for real estate investorsWarehouses near residential areas provide a bright spot for real estate investment trustsDebt investors cool on ailing US retail sectorLower demand for loans on shopping malls raises risks for those needing to refinanceMacy’s and Kohl’s bonds gain ahead of US retail earningsDebt of venerable stores climbs in price despite migration of shoppers onlineBond investors shrug off European retailers’ woesStance stands in contrast to hedge funds’ pessimistic view on the sector’s shares
