Donald Wood on retail oversupply
From Federal's CEO Don Wood on Mad Money | August 11, 2020 · · FederalRealtyInvestmentTrust
“We entered into this whole mess in an over‑retail environment in the U.S. ... this will exacerbate the oversupply — there's no question about that — but to me that means there won't be, not everybody can be a winner here so you better be pretty careful.”
On , Donald Wood, CEO, President & Director at Federal Realty Investment Trust, spoke about retail oversupply during Federal's CEO Don Wood on Mad Money | August 11, 2020 on FederalRealtyInvestmentTrust.
About Donald Wood
In an August 2020 appearance on CNBC's *Mad Money*, Federal Realty Investment Trust CEO Don Wood discussed the company's decision to raise its dividend during the COVID-19 pandemic. Wood stated that the dividend is a critical component of total return for REIT investors and that the company had $2 billion in liquidity at the end of June 2020, projecting it would still have $1.4 billion by February 2021. He argued that the ability to pay the dividend was not sufficient reason to do so, and that the decision was based on confidence in the company's future. Wood also addressed the broader retail environment, saying the U.S. entered the pandemic in an "over‑retail" state that would exacerbate oversupply, and that "not everybody can be a winner here." He emphasized the importance of landlords being "liquid" and "visionary" partners for tenants facing uncertainty. Wood described a program for in-store pickup as "the most comprehensive landlord organized program out in the street," adding that it was a permanent change rather than a temporary measure. He expressed confidence that the company would navigate the crisis and focus on long-term outcomes, stating he was "thinking about later in twenty years."