Monday, March 4, 2019

Malls Take a 48-Hour Beating as Retailers Cull Over 300 Stores

NREI
You can’t blame America’s teenagers for no longer congregating at the mall like generations past: There aren’t all that many stores left.

In the last 48 hours alone, several shopping-center staples unveiled plans to trim their footprints across the U.S. Gap Inc. said it would slash the store count of its struggling namesake brand by 230 locations over the next two years, just hours after J.C. Penney Co. confirmed it would shutter 18 department stores. That news came on the heels of L Brands Inc.’s decision to close 53 Victoria’s Secrets in North America this year. And it’s not just apparel: Tesla Inc., whose galleries are often inside shopping centers, just said it’s moving all its sales online.. . . more