Photos from the retail apocalypse

Visits to malls declined by 50% from 2010 to 2013Click to enlarge

The retail apocalypse has descended on America.

❝ More than 3,800 store s are expected to close across the country this year. Department stores like Macy’s, Sears, and JCPenney, and retailers including Toys R Us, BCBG, Abercrombie & Fitch, and Bebe have decided to close dozens of stores.

A new survey by commercial real estate company Reis found that malls are emptier than they have been since 2012…The vacancy rate in regional and super-regional malls hit 8.6% in the second quarter, up from 8.4% in the prior quarter.

❝ With vacancy rates continuing to rise, walking through a mall in 2018 is like walking through a graveyard.

Not a big fan of Business Insider. They’re often guilty of letting demented editors title articles as if they were written by click-bait pimps. I’m likely to skip a noteworthy article because of obvious overblown presentation. This piece is an exception.

9 thoughts on “Photos from the retail apocalypse

  1. Mallrat says:

    “What Does the Future Hold for Pennsylvania’s Dying Malls?” Department stores shed some 500,000 jobs since 2002, according to the U.S. Bureau of Labor Statistics.
    “Sears Holding’s recent report of second quarter 2018 sales was scary. The closing of 382 stores since last year’s second quarter, and the proposed closing of 46 more stores, is a stark reminder that the management is winding down the operation. There are now 360 Kmart stores and 506 Sears Roebuck stores in operation. In contrast, in 2005, there were about 1,600 Kmart stores and 2,300 Sears brand stores in operation.”
    “The Government May Want to Buy Your Dying Mall : Local governments worry that dying malls will blight the landscape, so they are buying them up”
    “America’s malls are dying. Owners are hoping virtual reality and fitness centers will save them”

    • Goners says:

      “Sears Holdings, once the largest retailer in the U.S., is readying a bankruptcy filing that could come as soon as this week, the Wall Street Journal reported on Tuesday citing people familiar with the situation.” “The news comes as the embattled retailer faces a $134 million debt due on Oct. 15, which the company has warned it may not meet. Analysts say Sears would need to generate more than $1 billion a year to keep running, as its sales continue to erode. The retailer’s last profitable year was in 2010, and it burned through $1.8 billion in cash in its operations during 2017 alone.

    • Ozymandias says:

      “New Mexico house ordered from Sears catalog in 1920s still standing” (Nexstar Broadcasting, Inc Oct 19, 2018)
      ESTANCIA, N.M. – A rickety house fenced off from the public on Highway 55 in Estancia, New Mexico, has a haunting reputation. “It’s been abandoned now for probably 20 years,” Estancia Board of Trustees member and former Estancia Mayor Morrow Hall said.
      Fred Ayers bought the house as a kit back in the 1920s through the Sears, Roebuck and Co. catalog.
      The Sears Archives website states the retailer sold more than 70,000 of the build-it-yourself house kits in nearly 450 different housing styles between 1908 and 1940.
      The house is still owned by the Ayers family which currently raises cattle on the surrounding land.

  2. Myiasis says:

    (Wall Street Journal 5/6/2019): “Why Amazon Is Gobbling Up Failed Malls” “As the decline of brick and mortar retail rolls on, commercial real estate developers are left with massive abandoned properties. Who will fill that underutilized space? A series of recent acquisitions by associates of Amazon in Northeastern Ohio provides some clues.”

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