Macy’s just dealt a big blow to the struggling American mall
4 years, 11 months ago

Macy’s just dealt a big blow to the struggling American mall

CNN  

New York CNN Business — Hundreds of American malls are struggling. Macy’s, for decades a reliable anchor tenant for mall owners and a draw for shoppers, announced Tuesday that it will close 125 stores, roughly one-fifth of its portfolio, within the next three years. “Macy’s is the primary draw,” said Ken Perkins, president of research firm Retail Metrics. “Layer on top of this vacancies from JCPenney, Sears and other regional department store closures, and its difficult to see how many of these malls go forward.” Forever 21’s recent demise illustrates the danger of store closings. Landlords may try to replace outgoing Macy’s with grocery stores, gyms, doctor’s offices, e-sports gaming lounges or other entertainment concepts that they hope will draw in shoppers.

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Major national department store abruptly shuts four stores
5 months ago

Major national department store abruptly shuts four stores

Daily Mail  

One of America's biggest department stores is shutting four locations. Earlier this year, Macy's said it would close 150 stores in the next three years, leaving it with 150. Last month, Simon Property Group CEO David Simon said it was not planning vast closures - and that it might open some. 'We continue to work to make every dollar count …

Here’s how malls with dead stores are getting people to visit
5 years, 1 month ago

Here’s how malls with dead stores are getting people to visit

CNN  

New York CNN Business — Many retailers that populated the nation’s malls have run into severe financial stress or gone out of business in recent years. A former Sears in Macerich’s Kings Plaza mall in Brooklyn is now filled with four different retailers: fast fashion chains Primark and Zara, a JCPenney and Burlington Stores. The mall is the new rec …

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