Nordstrom to target struggling malls when considering closures as JC Penney, Macy's axe stores [View all]
Things are looking dire for malls across the country, and the news in recent weeks hasn't helped.
In January, Macy's released the list of the 100 stores the retailer is closing in 2017. Friday, J.C. Penney said it plans to close as many as 140 stores over the next few months. Sears and Kmart have also announced closures.
These moves to overhaul their retail strategy and strengthen operations come as traditional retailers struggle with the fact that customers are less interested in malls and shop more online. Some analysts estimate as many as one in three U.S. malls will close in the coming years.
Seattle-based Nordstrom Inc. (NYSE: JWN) has been facing similar struggles, but has not done the wide-spread closures its fellow retailers have. Executives hinted this week that sweeping closures would not be in the cards during a conference call with analysts after the company reported fourth quarter results.
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