Gap. Inc. to Exit Malls, Shutter 220 Stores
The San Francisco-based retailer, which was for decades a fixture at shopping malls around the country, said Thursday that it will be closing one-third of its store base.
Simon, Brookfield Close to Buying JC Penney Out of Bankruptcy
Mall owners Simon Property Group and Brookfield Property Partners are close to a deal to buy department store chain J.C. Penney out of bankruptcy and keep the chain running.
Macy’s Loses $431M, but Beats Expectations
Macy’s Inc. on Wednesday reported a fiscal second-quarter loss of $431 million, after reporting a profit in the same period a year earlier.
Simon-Taubman Deal Implodes as Virus Shakes Retail
The nation’s largest mall owner is backing out of a $3.6 billion deal to buy a major rival as the coronavirus pandemic shakes the retail industry.
‘Reopened’ States Give Glimpse of Pandemic Retail
The exact terms of Massachusetts’ reopening still to be determined, but Americans elsewhere are getting their first taste of what pandemic shopping looks like at their local mall.
Commerce Locks Up as Retail Sales Plunge 8.7 Percent
Major retailers including J.C. Penney, Macy’s and Nordstrom have furloughed hundreds of thousands of workers, while Walmart and Amazon are on hiring sprees to try to meet the surging demand of shoppers buying online or for curbside drop-off or delivery.
Macy’s to Close 125 Stores, Including Mass. Location
Macy’s said Tuesday it is closing 125 of its least productive stores and cutting 2,000 corporate jobs as the struggling department store tries to reinvent itself in the age of online shopping.
Mall Owners Among Group Bidding $81M for Forever 21
A consortium of buyers, including mall owners Simon Property Group and Brookfield Property Partners, is bidding $81 million for Forever 21, the ubiquitous mall staple that filed for bankruptcy protection in September.
Industrial Market Continues to Gain Momentum
Call it a tale of two industries. Executives continue to be awed by the industrial sector’s transformation. But for retail real estate, analysts wonder when the carnage will end, as e-commerce firms continue to bite into the sales of large, brick-and-mortar retailers.
New England Development Gets OK to Reboot Cambridgeside Mall
It’s “goodbye, struggling big-box retailers” and “hello, residential units, offices and labs” at the Cambridgeside mall after the Cambridge City Council voted 6-3 Monday night to approve zoning for New England Development’s proposed reboot of the mall.
Worcester Mall Sells for $7M, Redevelopment Possible
A declining downtown Worcester mall has been sold to a Boston-based developer for $7.12 million, and a redevelopment could be in the works for the property.
Dressbarn Closing 24 Massachusetts Stores as Company Folds
Major women’s fashion retailer Dressbarn, founded in Connecticut more than 50 years ago, is closing.
Swansea Mall Closes, Land to Be Auctioned
The 90-shop Swansea Mall closed its doors for the last time this weekend after decades of difficulties.
