9/11/2023 0 Comments David simon malls![]() ![]() “I don’t think it makes a lot of sense for malls to be open,” he said, adding that the decision makes sense in terms of managing the spread of the coronavirus. However, they likely don’t want to encourage shoppers to rush to brick and mortar stores for first-come, first-serve deals on electronics, apparel and more, in deference to social distancing recommendations, Talbott noted. Retail corporations may be able to manage Black Friday crowds. “I’m sure the emphasis for all major retailers is going to be to emphasize their digital channels even during Black Friday,” he said. David Simon: The fact is that real estate changes all of the time, whether it's apartments, motels, hospitals, or storage units malls are no different. However, Talbott said the growth in online shopping may have influenced retailers to invest more in e-commerce. Some shoppers are likely to still flock to stores on Black Friday. retail e-commerce sales for the second quarter was a seasonally-adjusted $211.5 billion, an increase of 31.8% from the first quarter and 44.5% over the same period last year. But the novel coronavirus accelerated consumers’ dependence on online shopping as department stores and other nonessential businesses were forced to closed. In recent years, retailers have kicked off Black Friday sales on Thanksgiving, with sales promotions starting even earlier. The announcement to close on Thanksgiving follows similar decisions from major retailers such as Walmart, Target, Dick’s Sporting Goods, Ulta Beauty and Best Buy. Talbott, director of the Center for Education and Research in Retailing at Indiana University’s Kelley School of Business. Simon’s pivot appears to be following a retail trend emerging during the pandemic, said John S. CEO David Simon said about working with more grocers: 'Yes, I am hopeful that we can. The company said its mall properties will be open on Black Friday. The biggest mall owner in the U.S., Simon Property Group, hints at opening more grocery stores in its malls. ![]() “In these challenging times, we made the decision that we will not open on Thanksgiving Day, instead allowing our associates to spend the holiday with their loved ones,” David Simon, the company’s chairman, CEO and president, said in the statement. The company also has an ownership stake in mall chains Forever 21 and Aéropostale and recently reached deals to jointly purchase Lucky Brand Jeans, Brooks Brothers and JC Penney. Simon is the largest owner and operator of malls in the United States, including College Mall in Bloomington. ![]() The Indianapolis-based real estate investment trust announced the decision in a short statement released late Monday. Simon Property Group is joining a growing number of retail businesses that will close their properties on Thanksgiving Day. ![]()
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