Over the past few months I have reported on the dramatic negative Omni-channel impact on the mall business. I admit that while I was concerned, after reading a Bloomberg Businessweek article about “Stalled Malls,” the reality is even more shocking.
Abercrombie & Fitch, where lines of young shoppers used to abound, will close 120 stores over the next 24 months; Aeropostale will be closing 175 stores along with 125 of its kids brand stores; American Eagle is closing 150 stores; and worst of all, my all-time favorite national pizza-place, Sbarro, filed for bankruptcy due to the decline of mozzarella action at the mall, and the list goes on.
At the same time, while malls stumble, mobile shopping is expected to grow 800% through 2015. Go figure.
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