Large retailers leaving major urban areas, which industry experts say is in its beginning stages, could foreshadow a further emptying of downtowns already wounded by the pandemic.
The trend, which industry experts say is in its beginning stages, could foreshadow a further emptying of downtowns already wounded by the pandemic. Although retail vacancy rates for dense urban centers have been declining over the past decade, figures from real estate data firm CoStar show the numbers inching up in some cities.
“The last thing I want to do is close stores,” Kress added. “But I’ve got to be able to run them safely and profitably.”Idling near the bakery display, waving hello to associates stocking produce, Kress reminisced about his early years at the supermarket chain. As an 18-year-old working as a part-time cashier at a store in Montgomery County, Md., Kress often saw people snatch cigarette boxes from a large display at an aisle endcap.
Stores are experimenting with ways to mitigate the issue. Giant Food has hired security guards — some of them armed, depending on the history of violence in a given store — and limited self-checkout to 20 items. The company also secured items such asREI, which announced it is closing its Portland, Ore., location next year after nearly 20 years there, spent more than $800,000 in 2022 on additional security at the location, a spokesperson told The Washington Post.
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