I’ve read a few thought-provoking articles recently about the state of the retail real estate marketplace that make the observation that A malls are generally doing better while B malls are continuing to tread water—or even beginning to fade away. Once again, I have to disagree on the B malls.
Has anyone else noticed that more and more consumers seem to be “cross-shopping” than ever before? I’m talking about those people who shop both the high-end luxury retailers and the discount or even dollar stores.
Fresh off the resignation of CEO Brian Dunn and the revelation that the company lost a not-so- insignificant sum of $1.7 billion last quarter, Best Buy’s recent announcement to close 50 stores by the end of 2012 probably didn’t come as a surprise to anyone in our industry.
Well, 2012 is certainly off to a wild start. While there’s been nothing quite as dramatic and earth shattering as last year’s tsunami in Japan, there are plenty of global events and outside influences affecting our industry.