Are malls closing in America?

According to a report from Coresight Research cited by CNBC last August, roughly one-quarter of American malls will close down in the next three-to-five years — Moody’s Analytics expects roughly 135 million square feet of space at regional malls to become available during that time.

How many malls have closed in the US in 2020?

So far in 2020, more than 8,000 retail locations have gone dark for good, Coresight says.

What stores are closing in the United States in 2020?

The 20 Biggest Stores That Closed for Good In 2020

• of 40. GNC.
• of 40. GNC.
• of 40. Pier 1 Imports.
• of 40. Pier 1 Imports.
• of 40. Victoria’s Secret.
• of 40. Victoria’s Secret.
• of 40. Bed Bath & Beyond.
• of 40. Bed Bath & Beyond.

What stores are closing in the US?

Nearly every major department store, including Macy’s, Kohl’s, Walmart, and Sears, have collectively closed hundreds of stores over the last couple years to try and stem losses from unprofitable stores and the rise of ecommerce.

Are malls going to close?

Between 20% and 25% of the nation’s shopping malls will close in the next five years, according to a new report from Credit Suisse that predicts e-commerce will continue to pull shoppers away from bricks-and-mortar retailers.

Why are retail stores closing?

Well, there are several other retail stores closing (some have already closed) as well for a number of reasons, including restructuring deals, declining mall traffic, and a boost in e-commerce traffic.

What retail stores are shutting down?

Department stores like JCPenney, Macy’s, Sears, and Kmart are among the companies shutting down stores, along with middle-of-the-mall chains like Crocs, BCBG , Abercrombie & Fitch, and Guess. Some retailers are exiting the brick-and-mortar business altogether and trying to shift to an all-online model.