Tuesday, May 21, 2019

When anchors go away

Chain Store Age
A convenient, albeit misleading headline has gained great currency in the retail business — this being that physical retail is disappearing at a rapid rate as shoppers and sales migrate online, creating a real estate landscape rich in opportunity for those (few) retailers who do still actually want to open brick-and-mortar stores.

As is usually the case, the full picture is rather more complicated and nuanced. Certainly, physical retail is under tremendous pressure from online in particular, and some retailers are responding to competitive pressures and changing shopper behaviors by closing stores and rationalizing their networks — sometimes very severely. Among the most prominent in this respect is the department store sector, J.C. Penney and Sears in particular. . . . more