The Ups and Downs of Life in the Retail Business

If 2010 was a rollercoaster ride for those of us in real estate, 2011 was a department store escalator, going slowly and steadily upward. Shoppers have returned to the stores at nearly all price points. The luxury consumer is back in force, as we've seen by the comp-store sales increases at such retailers as Neiman-Marcus (Bergdorf Goodman's parent), Saks Fifth Avenue and Nordstrom.