Most U.S. malls are still dependent on department stores to draw customers, but with consumers doing more shopping online, retail centers are increasingly relying on restaurants, entertainment amenities and even medical facilities to attract traffic.
Two former guest-services managers at shopping malls in Illinois and Oklahoma have sued Indianapolis-based Simon Property Group, claiming the retail property giant violated the Fair Labor Standards Act.
At least one industry analyst that follows Indianapolis-based Kite Realty said a union between the two companies wouldn't make sense, given that most of Kite's properties are strip centers and WP Glimcher's are shopping malls.
It turns out that Simon Property Group spun off its less profitable malls and zeroed in on high-end properties at just the right times. Analysts say middling malls are losing out as retailers decide where to pare locations.