Macerich Lines Up New Anchors as Malls Start to Recover
As vaccination rates have risen and COVID-19 case counts have fallen in the U.S., consumer spending has surged. This has included a sharp rebound in mall traffic and sales, much to the surprise of skeptics who expected the pandemic to finish off the U.S. mall industry.
The budding recovery has allowed mall giant Macerich (NYSE: MAC) to start making progress on filling its anchor vacancies once again. That, in turn, will help the company maintain its malls as vibrant shopping destinations that can be successful for many years to come.
Even during the depths of the pandemic, some retailers continued expanding. At Vintage Faire Mall in Modesto, California, Macerich brought in Furniture City to replace a three-story, large-format Forever 21 that closed in late 2019. It also relocated Dick's Sporting Goods from an outparcel to a larger space where it anchors one end of the mall.
Source Fool.com
