This Department Store Is Teaming Up With DoorDash for Same-Day Delivery: Will More Follow Suit?
Like all retailers, department stores weren't immune to the blow the COVID-19 pandemic dealt. Many, in fact, have closed their doors since the start of the crisis, which has left shopping malls in a tough spot.
Malls routinely rely on department stores to serve as anchor tenants, drawing in customers and encouraging leasing activity for nearby stores. And so losing department stores is a blow that mall REITs, or real estate investments trusts, can't afford in 2022.
Now the good news is that some department stores are taking steps to expand their customer base in the new year. And one such brand is J.C. Penney (OTC: JCPN.Q). The struggling retailer recently announced that it will be partnering with DoorDash (NYSE: DASH) to offer same-day delivery on home products in more than 600 of its stores. And that could be just the thing that saves it.
Source Fool.com
