After Macy’s announced its decision to close a third of its stores, the transformation of its abandoned retail space could result in major changes to the U.S. retail landscape. With 150 stores set to close by early 2027, the result may be a better use of existing real estate, Chris Wimmer, senior director at Fitch Ratings, told CNBC. The closures, he said, would hasten the demise of “low-quality malls that really don’t need to exist anymore.”
Rebecca Dumais
