The following article is a good accounting of the current state of affairs for mall anchors. There is some information specific to the Philadelphia market, but there is enough national information to make it a worthwhile article.
Traditional mall anchors are fading away
The American middle class is disappearing, and with it, the mall anchor store.
As he pushed a shopping cart at T.J. Maxx the day after Christmas, Ahmet Kula made it clear he likes nice things but isn’t willing to pay full price for them.
“I like the prices and quality in here,” the 45-year-old limo driver from Levittown said. “I like Macy’s, too. But it’s too expensive.”
Then he whipped out two Sears credit cards he said he hadn’t used in months, for the same reason.
Kula represents that middle-of-the-road shopper, neither low-end nor high-end, who in recent years has become elusive for shopping malls – and is the reason why Macy’s, Sears, and J.C. Penney are shutting stores.