US malls look to grocery stores as 'survival tactic'
As department stores close, grocers can bring back shoppers resulting in heavy and routine foot traffic
Washington
FOR decades, department stores such as Macy's and Sears have anchored sprawling suburban malls. Now as their business has languished and they board up shop, another sort of tenant is trying its luck in their place: grocers.
"There has been a real acceleration of anchors closing their operations," said Mark Ordan, who knows both sides of the equation as former chief executive of Fresh Fields and a former chief executive of a leading mall operator. "As traditional anchors leave, it's an opportunity for both the mall owner and the supermarkets."
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