The narrative that malls are dying isn’t completely true, however retailers are nonetheless closing shops as buying shifts create a widening hole between winners and losers.
Retailer closures are now not only a signal of retail weak spot. They’re more and more a strategic choice about which malls are value staying in and that are now not viable.
“Visitors to malls elevated in Q1 2026 throughout all three codecs analyzed — indoor malls, open-air buying facilities, and outlet malls — largely due to robust performances within the first two months of the 12 months, in keeping with Placer.ai’s March 2026 Mall Index.
That is the broad pattern, however it doesn’t inform the total story in regards to the state of malls.
“The American mall will not be dying — it is dividing… But this headline obscures a extra nuanced actuality: Premier buying facilities with luxurious tenants and experiential choices are flourishing, whereas lower-tier properties battle to outlive,” in keeping with Coldwell Banker Commercial.
That is a state of affairs good retailers perceive, which has compelled some robust selections on retailer places. Genesco, the proprietor of Journeys, a historically mall-based sneaker and footwear retailer, has been closing shops as a part of a broader plan to handle the altering nature of malls.
Genesco has been working to shift its retailer presence since late 2023.
“Amid declining gross sales, Genesco is shifting the shop presence of Journeys away from malls,” RetailDive reported.
The Firm closed 94 Journeys shops in Fiscal 2024 and is focusing on as much as 50 extra closures in Fiscal 2025, in keeping with its fourth-quarter 2024 earnings release.
Genesco CEO Mimi Vaughn known as the state of affairs at Journeys a turnaround.
“Given our robust observe file of turning companies round in difficult instances, an excellent larger name to motion to speed up the tempo of Journeys enchancment and initiatives already underway, we’re properly positioned to unlock Journeys’ appreciable earnings potential and worth,” she mentioned within the name.
The shutdowns have continued into 2026 with 15 shops closing this 12 months, in keeping with Women’s Wear Daily.
Vaughn thinks that Journeys’ revival has progressed properly.
“We’ve got been actually happy by Journeys’ progress and efficiency during the last couple of years, and I will simply take you again and say that that is our first full 12 months of the Journeys’ turnaround. And so if you look to see the place comps have been, we elevated comps by 6% in fiscal ’25 after which adopted by 9% in fiscal ’26,” she mentioned throughout Genesco’s fourth-quarter 2026 earnings call.
