A 44-year-old mall retailer closes 28 stores amid broader industry optimization, reflecting uneven consumer traffic trends.
A nostalgic mall retailer has closed 28 stores as part of a broader industry push to optimize footprints and protect margins. The move mirrors strategies by peers like Michael Kors, Vera Bradley, and Fossil Group, which have collectively shuttered over 170 locations in recent years.
Foot traffic data underscores a divide between mall tiers, with top-tier properties maintaining 95% occupancy while lower-rated malls sit at 72%. Open-air shopping centers saw a 5.7% year-over-year rise in visits, compared to 1.9% for indoor malls, as consumers favor shorter, mission-driven trips.
The closures reflect structural shifts rather than a retail collapse, with brands consolidating to boost sales at remaining locations. The trend highlights the growing gap between high-performing and struggling retail hubs.