Department Stores, Once Anchors At Malls, Become Millstones

For decades, a corner spot at the mall was a sure path to success for big American department stores like Macy’s. Not anymore. Those stores have been outmaneuvered by online retailers like Amazon and discount retailers like T. J. Maxx. And now the pace of change is accelerating, transforming the retail industry faster than expected. The results? A rude awakening for some of the country’s biggest retailers. And for malls, a reshaping that, in many ways, mirrors a growing economic divide. Read more at The New York Times.