Some shopping malls may be in deeper trouble than you think
By Sarah Mulholland Bloomberg
The damage inflicted on U.S. malls by the rise of e-commerce may be worse than it appears.
As embattled retailers announce store closures at a record pace, some tenants are shrinking their footprints more quietly by choosing not to renew expiring leases, according to a report from property-research firm Green Street Advisors. Of 2,468 in-line stores that closed in 2017 — a category that excludes department stores — 979 weren’t announced.
More than two-thirds of U.S. malls saw a decrease in national retailers, including chains such as Wet Seal, Bebe and Rue 21, which announced a combined 427 store closings last year, Green Street data show. Companies that closed stores without making public statements include Stride Rite and Hallmark.