Struggling mall retailer tries something completely different
Bankruptcies and store closures are rocking the retail world, but one well-known brand is opening locations and trying new concepts.
The last few years have not been kind to retailers. From home goods outlets to children's clothing and beloved craft stores, thousands of stores have closed their doors for good.
Even iconic anchor retailers at malls have struggled, although retail foot traffic is expected to surpass pre-pandemic levels this year.
Related: Popular pet and garden chain closing all locations, no bankruptcy
Retailers that are hanging in there, or even thriving enough to open new locations, are ones that are nimble.
Evolution is the key to survival in more than just nature.
Gap, for example, launched its "retail laboratory" stores in 2022, where customers could watch creative teams at work; Target has launched smaller-format stores (50,000 square feet instead of the typical 125,000).
