Headlines

Report: Department Stores Need to Shutter Locations

Closures would include nearly 800 stores

Published

9 years ago

April 26, 2016

New research into retail productivity released by real estate research firm Green Street Advisors (Newport Beach, Calif.) says department stores would need to shutter hundreds of locations to regain the productivity they had in 2006.

The Wall Street Journal reports sales per square foot in department stores had dropped to $165, a 24-percent drop since 2006, due largely to online sales. The article also states that stores had increased physical footprints by 7 percent.

The report by Green Street estimates that nearly 800 locations throughout the country would need to close, equaling one-fifth of U.S. anchor space in malls.

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design