28 days ago
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About this Deal
Malls that buckled due to e-commerce or suffered during the pandemic are being given new life by the very entity that precipitated their decline — Amazon.
Over the last several months, the retail giant has gone on a shopping spree of its own, buying up disused malls across the country and turning them into distribution centers.
The pandemic has accelerated Amazon’s retail business, as stores closed and people hunkered down at home to curb coronavirus infections. Net sales increased 37 percent in 2020 compared to the year before, leading the company to invest roughly $44 billion in capital expenditures. Its fulfillment center footprint grew by 50 percent in 2020 compared to the year before. This also translates to more jobs.