Struggling mall chain closes stores, prepares for tariffs
The struggling mall retail chain has a plan to close dozens more stores and to deal with higher prices for clothes.
The latest round of tariffs serves as one more body blow to an already struggling category of business: the mall retailer.
It’s not that people are not visiting malls. Data shows that mall visits have been a little up or a little down, depending on the quality of the mall and the time of the year.
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There’s no massive exodus away from brick-and-mortar retail, but whether people visit and whether they buy are two very different things.
Traditionally, mall stores benefited from the foot traffic of having so many stores in the same location. The problem is that in addition to being able to buy what’s in front of you at a physical store, most people can also just order off their phone.
So if you were standing in a classic mall store like Gap, Ann Taylor Loft, Express, or an anchor chain like J.C. Penny, Macy’s, or Dillards, it’s much easier to simply not buy.
