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These big chains and others have closed stores in major US cities recently, raising alarm about the future of retail in some of the country’s most prominent downtowns and business districts.
Several forces are pushing chains out of some city centers: a glut of stores, people working from home, online shopping, exorbitant rents, crime and public safety concerns, and difficulty hiring workers.
To reinvent downtown retail, drastic changes may be required.
Major retailers have pulled back from cities. A remaking of downtowns will create stronger retail conditions.
That means denser neighborhoods with a broader mix of affordable housing, experiential retail, restaurants, entertainment, parks and other amenities, which won’t happen overnight.