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Economy
More trouble for malls: A new wave of closures from Gap, Victoria's Secret and others
2018-11-30
[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

#13  Victoria wasn't really that good at keeping secrets anyway...
Posted by: CrazyFool   2018-11-30 16:08  

#12  What about all the Mall-Rats?
Posted by: CrazyFool   2018-11-30 16:06  

#11  Venezuelan Currency reserves
Posted by: Frank G   2018-11-30 15:48  

#10  (Looking at that pallet-sized pack of toilet paper is still sitting in our bathroom closet...)

That'll be gold in the civil war.
Posted by: Procopius2k   2018-11-30 15:39  

#9  Stick a fork in 'em.
Posted by: Anguper Hupomosing9418   2018-11-30 15:16  

#8  Low interest rates make high land prices which makes high rents which puts physical based companies out of business..

It's not rocket science.
Posted by: Bright Pebbles   2018-11-30 13:55  

#7  It used to be groceries was the most common shopping I'd go to, but I don't do much anymore now that I think about it.

When we get groceries, SWMBO goes in to shop for fresh items like meat fruit and vegetables. Everything else, she orders online and I just pull in and they load it in the car's trunk or back seat of the truck. Sadly, the days of things like a box of Chocodile Twinkies mysteriously ending up in the cart are over.
She Who Must Be Obeyed (SWMBO)
The nice part is that we actually spend less money on groceries because I'm not loading up on stuff we don't need even if it looked like a good deal at the time (Looking at that pallet-sized pack of toilet paper is still sitting in our bathroom closet...) and by shopping online, my wife can get all the sales at Kroger, Walmart, and HEB without setting foot in the stores. All I do is go fetch the stuff, which ultimately takes less time to hit all those than it would have to shop in one of them.

That's really changed how we shop. Malls are dead.
Posted by: Injun Bucket8891   2018-11-30 12:13  

#6  I will, however, miss browsing in the Warner Brothers store.

The old Wigwam stores. And lets not forget Montgommery (Monkey) Wards. The old '88cent' stores... But they were not in Malls (maybe strip malls...)
Posted by: CrazyFool   2018-11-30 10:33  

#5  I thought Victoria Secret was going to do big business with their new transexual models, who would have thought confused messages might effect their sales or something.
Posted by: rjschwarz   2018-11-30 10:02  

#4   I will, however, miss browsing in the Warner Brothers store. (They've been gone awhile.)

The, th, th, th, th, th, th, th, That's all, folks...
Posted by: M. Murcek   2018-11-30 08:04  

#3  It does seem that the day of looking at horribly overpriced goods in a crowded horribly overpriced venue is over. I will, however, miss browsing in the Warner Brothers store. (They've been gone awhile.)
Posted by: ed in texas   2018-11-30 07:33  

#2  ...well, given the advances in (Thai and Brazilian) plastic surgery and hormone therapy, you just can't be sure anymore without a chromosome analysis. The next new kit from Ancestry dot com.
Posted by: Procopius2k   2018-11-30 06:14  

#1  Victoria had a secret ?
Posted by: Besoeker   2018-11-30 02:44  

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