Monday, April 25, 2016

Department Stores Need to Cull Hundreds of Sites, Study Says

J.C. Penney, Sears and others have closed hundreds of stores. Shown, Ridgmar Mall in Fort Worth, Texas.Department stores need to close hundreds of locations if they want to regain the productivity they had a decade ago, according to new research from Green Street Advisors.

The real-estate research firm estimates that the closures could include roughly 800 department stores, or about a fifth of all anchor space in U.S. malls.

Sears Holdings Corp. alone would need to close 300, or 43%, of its Sears stores to regain the sales per square foot it had in 2006, adjusted for inflation, according to Green Street.. . . more

No comments: