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Probably due to a lot of stores now are selling junky gas station quality goods. It has to be very cheap to run one of those places.
Simon needs to up their game in their hometown. Have been losing big name retailers, from their “premier” Fashion Mall, to Kite (Williams Sonoma, West Elm), leaving big, empty spaces in Fashion Mall. And losing Saks was not a good sign.
They didn’t lose Saks…..they are redoing that entire area of the mall.
Saks has been on credit watch for a decade, using junk loans and bonds to stay afloat. That’s no great loss. Sales per SF at Fashion Mall have never bene higher. That Saks space is being redeveloped, something Simon is great at.
Williams Sonoma and West Elm are moving out of many malls into smaller, more convenient strip type malls where you can park and carry you blender or home good to your nearby car without having to drag it through the mall.
Corey – Aren’t they redoing that entire area of the mall because they lost Saks?