by Bill McBride on 5/31/2009 12:16:00 PM
Sunday, May 31, 2009
The NY Times has a graphic of the performance of a theoretical mall: The Fall of the Mall (ht Ann, Pat).
Click on graphic for complete image.
The graphic compares the performance of a number of retailers from Q1 2008 to Q1 2009.
The best performers are a dollar store, a movie theater and a pharmacy.
The worst performers are Saks, Abercrombie & Fitch, Bebe and some others.
This is a theoretical mall where all the retailers are still in business. In reality many stores are vacant, and many malls are dead or dying. See the WSJ: Recession Turns Malls Into Ghost Towns
One industry rule of thumb holds that any large, enclosed mall generating sales per square foot of $250 or less -- the U.S. average is $381 -- is in danger of failure. By that measure, [Eastland Mall in Charlotte] is one of 84 dead malls in a 1,032-mall database compiled by Green Street.