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More trouble for malls: A new wave of closures from Gap, Victoria's Secret and others
[CNBC] Mall and shopping center owners across the U.S. are preparing to be hit by more store closures, following a brutal year that included department store chains like Bon-Ton and Sears going bankrupt, Toys R Us liquidating and even Walmart shutting dozens of its club stores.
Caboose stoves, you simply can't find them anywhere.
Now, a slew of specialty retailers like Gap and L Brands are getting serious about downsizing, which will leave more vacant storefronts within malls until landlords are able to replace tenants.

And if retailers are not shutting stores, the focus is on negotiating with landlords over how to cut rent and other expenses. Real estate analysts say it's the retailers, not the mall and shopping center owners, that still have the upper hand in most negotiations today.

"Our early read on 2019 is more of the same ... with both malls and [shopping centers] facing another year of tepid earnings growth and store closure-related headwinds," Mizuho analyst Haendel St. Juste said.

The CEO of clothing retailer Express, David Kornberg, told analysts Thursday morning the company is "benefiting from reduced occupancy costs, which are expected to continue based on recent lease negotiations."
Posted by: Besoeker 2018-11-30
http://www.rantburg.com/poparticle.php?ID=528712