Open-Air Movement: The Department Store Is Dead

The future of retail development is outdoors, and Southern California developer Rick Caruso has successfully pioneered the form.

1 minute read

January 2, 2004, 7:00 AM PST

By Chris Steins @planetizen

In an interview, developer Rick Caruso says: "The department store as we know it today, with a few exceptions, is soon to be gone. People have much less time and they are looking for value. Target is very good example of a store that provides value that the old-fashioned department-store format doesn't provide, but it's still trendy to shop there. Today, people shop at Target and Neiman Marcus. Nordstrom is doing well. The department stores caught in the middle are having a tough time finding out where they belong. There's not a lot of reason for them to exist."

Thanks to Chris Steins

Read the full story: Caruso Is at the Center of Open-Air Movement

Thursday, January 1, 2004 in The Los Angeles Times

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