As you know, I have been quite critical as it relates to investing in mall REITs that own properties in secondary markets. I have become increasingly bearish in the (mall) sector as a result of the number of store closures and retail bankruptcies in the U.S.
In 2017, there were a record-high number of store closures that rocked the retail sector. Dozens of retailers including Macy’s (M), Sears (SHLDQ), and J.C. Penney (JCP) shuttered an estimated 9,000 stores – far exceeding recessionary levels – and 50 chains filed for bankruptcy.
The number of store closings