Tuesday, March 27, 2018

Mall News

Best Buy will close all of its approximately 250 freestanding Best Buy Mobile stores by the end of May. The smaller-format stores, typically located in malls, average about 1,400 s/f. The retailer will continue to sell mobile phones through its 1,000 US Best Buy stores and online…Bachrach men’s stores, which had emerged from bankruptcy protection last August, filed Chapter 11 protection last month and will close all 14 of its stores, which are located mostly at malls...Abercrombie & Fitch  will close 60 stores later this year. The retailer, which also owns Hollister, has been reconfiguring its store fleet in malls. Last year, it closed nearly 40 stores, having previously planned to shutter 60 locations. In 2016, it closed about 50 shops…The Walking Company has filed for Chapter 11 protection, for the second time in 10 years. The retailer operates 208 stores in the US, including the FootSmart and Big Dogs Sportswear names...Signet Jewelers Ltd., parent of Zales, Kay Jewelers, Jared and other jewelry banners, anticipates closing more than 200 stores by the end of fiscal 2019. With three-quarters of the stores expected to close located in the same mall as another Signet banner, the company said it expects approximately 30% of revenue from closed stores to transfer to remaining Signet stores....Claire’s Stores Inc. filed for bankruptcy and reached an agreement with creditors to restructure around $1.9 billion in debt. Claire’s operates over 2,500 corporate stores across 47 countires, many in malls.

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