Foot Locker Hastens Its Departure From the Shopping Mall
Foot Locker (NYSE: FL) may be a shopping mall fixture now, but even before the coronavirus pandemic upended business as usual across the retail world, the footwear retailer was already jogging for the door. The crisis has only hastened that exit.
This spells more trouble for mall operators like Simon Property Group (NYSE: SPG). Some have chosen to acquire troubled retailers out of bankruptcy in order to prevent more empty storefronts from appearing in their shopping centers, but retailers like Foot Locker are creating a vacuum of their own by looking for off-mall space to set up shop.
Image source: Foot Locker.
Source Fool.com
