Malls feel the heat as Macy's, other chains close stores

August 13, 2016 7:53 AM

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Malls feel the heat as Macy's, other chains close stores

Macy's decision to close 100 stores, only the latest in a series of downsizing announcements by department-store chains, is going to fall hard on the nation's shopping mall operators.

Macy's, Sears, J.C. Penney and other, including specialty retailers, see their sales and profits being gobbled by online retailers and shoppers seeking fresher retail concepts. A real-estate research firm, Green Street Advisors, says chains would need to collectively close 800 stores to achieve the ...

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