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Related’s CEO Says Malls Can Thrive Without Department Stores
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Shopping malls can thrive by converting space vacated by department stores to alternative uses such as apartments or offices, according to Jeff Blau, chief executive officer of Related Cos.
Department stores, which have struggled for years with the rise of online shopping, have been battered by the pandemic. That includes J.C. Penney and Neiman Marcus, both of which have filed for bankruptcy.