Retail

UBS predicts 80,000 stores will go dark by 2026

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A Jos. A. Bank store location in San Francisco announces its permanent closure on Aug. 6.

David Paul Morris/Bloomberg via Getty Images

Although the pace of store closures has slowed from its 2019 peak, don’t expect the reprieve to last long, according to a new UBS report that suggests America still has far too much retail space per capita.

At the end of last year, there were 115,000 shopping centers — a figure that includes strip centers, malls, outlet and other lifestyle centers — across the U.S., compared with 112,000 in 2010 and 90,000 in 2000, UBS found in an analysis using data from the International Council of Shopping Centers.

That equates to about 59 square feet of shopping…



Source cnbc.com

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