Sunday, February 28, 2021


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Pandemic magnifies mall woes

The COVID-19 pandemic has accelerated the consumer shift to online shopping, and the strain is being felt more acutely at mall retailers because of...
PRICES FOR ALL: Boscov’s, a family-owned department store, opened just a few months ago in Providence Place mall. Denise and Walter Budz, of Providence, check out with Islene DeOleo, sales associate. “There are prices for everyone here,” said Walter Budz, who spent 46 years in retail at Ann & Hope, Ames and Walmart. / PBN PHOTO/MICHAEL SALERNO

R.I. malls finding new ways to get people in the door

In one area of Providence Place mall, a couple of small children are working intently in a toddler-size veterinary clinic, treating a gray stuffed...
SHIFTING FOCUS: Providence Place, pictured above, and other local malls are increasingly focusing on unique retailers, events and entertainment to lure customers. / PBN FILE PHOTO/MICHAEL SALERNO

Malls are not dead but retailers bracing for survival of fittest

The good news for local malls is their long-predicted demise, like Mark Twain’s prematurely reported death, has been exaggerated. The bad news is the...
GROWING TREND: Mark Dunbar, Providence Place mall general manager, said beginning with an online presence and expanding into physical locations is a growing trend among retailers. / PBN FILE PHOTO/MICHAEL SALERNO

Are local malls enough of an attraction to make you visit,...

Despite dire predictions of their imminent demise for much of the past decade, there are as many malls today nationally as there has ever...
THE NUMBER OF mall loans issued since the financial crisis identified as “highest risk” has almost tripled to 29 this year, according to Wells Fargo & Co. / BLOOMBERG NEWS FILE PHOTO/MATT TOWNSEND

Borrowers flee empty malls, and bond investors brace for fallout

NEW YORK - Things are getting worse for malls across America. So much worse that their owners are walking away early from struggling properties,...
RETAILERS HAVE BEEN deducting returns for items bought online from their sales figures, affecting retail landlord's revenue. / BLOOMBERG FILE PHOTO/MICHAEL NAGLE

Mall owners and retailers clash over avalanche of online returns

NEW YORK - Mall owners, already squeezed by e-commerce and spending billions on property makeovers to draw shoppers, have a new headache: retailers deducting...

Reports of retail’s death premature

Earlier this month, Sen. Marco Rubio, R-Fla., reacted to news of rising mall vacancies by calling for help for the “millions of workers who...
CONSTRUCTION SPENDING ON shopping centers topped $1.6 billion in June, the largest amount since 2008 and the Great Recession/ BLOOMBERG FILE PHOTO /MICHAEL NAGLE

If retail Is dying, why is money pouring into malls?

NEW YORK - If you are one of those people who thinks America’s retail industry is doing just fine, well, there are three possibilities:...

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