Open-Air Movement: The Department Store Is Dead
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