Wednesday, May 31, 2017

Wall Street bank says a quarter of shopping malls will close in 5 years

Shopping MallAbout a quarter of US malls will most likely close within the next five years, according to a new prediction from Credit Suisse.

In a research note published Tuesday, the bank estimated that 20% to 25% of the nation's 1,100 shopping malls — or roughly 220 to 275 shopping centers — would shut down by 2022.

Credit Suisse cited mass store closings, the rise of e-commerce, and the growing popularity of off-price chains — which tend to be located outside shopping malls — as reasons for the potential mall closings.. . . more

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