Thursday, May 28, 2020

The incredible shrinking department store

Retail Dive
Department stores are dropping like flies.

By interrupting whatever comeback plans they had — and each has been in repair mode in some way or another — the COVID-19 pandemic has pushed most if not all department stores to take drastic measures in recent weeks.

Commercial property research firm Green Street Advisors last month said it expects "a little more than half of all mall-based department stores" to close within two years, and for Penney alone to close "a lot, if not all" of its stores.. . . more