In 1985, US department stores took 14.5% of all retail spend. Last year they took 4.3%. The figure is still falling. The internet is often blamed for this. But the blunt truth is that US department stores just aren’t very good retailers. In fact, most of them are abysmal.
This is sort of amazing, for anyone interested in land use, local planning, or why nobody can afford to live in the Bay Area...