Retail Armageddon Hits High-end Malls, and Some Grocery-Anchored Strip Malls May Be Next
Despite previous claims, neither is immune. And despite growing economy, 2018 expected to be much worse for retail.
(Disclaimer: I'm not a financial advisor, accountant or attorney. Consult your own financial and/or legal advisors before making any investment or legal decisions.)
"It's the End of the Mall As We Know It..."
2017 set all sorts of terrible records for retail. Decades of overbuilding and growing competition from Amazon and other Internet sites, caused retailers like Macy's, Sears, JCPenney, Kmart, Toys "R" Us and other big-box retailers and grocers to close a heart-breaking 9,000 stores. A brutally record-setting 50 chains filed for bankruptcy. The carnage was far worse than the Great Recession, and many landlords called 2017 the year of "Retail Armageddon."