For the record, Clark Howard describes the general department-store model as “broken” in this 2017 video.
People might also want to read this MarketWatch article from March 2023:
We have watched the slow demise of giant stores and malls for many years.
There are videos of totally abandoned shopping malls.
Stores are closing in San Francisco because of the tremendous crime and the DA not wanting to prosecute anyone.
I know, but they have been slowly dying for years.
Yes, this is a case of “two things can be true at once”
There always seems to be an unending prediction of the demise of the flagship cities of the U.S., as if this should be a happy happenstance. On the contrary, the major financial, industrial, and cultural hubs are the backbone of this country and their continuing success will benefit both the cities and the hinterlands. Yes, at certain times – some short, some longer – particular metropolises might surge and wain, but for centuries these backbones cities have supplied the most energy to the country. If NYC, Philadelphia, Pittsburg, Detroit, Chicago, LA, San Francisco, Seatle, and others fail in the longer term it will only be because the country as a whole is failing.
Sadly true
Technology has enabled the hybrid workforce which is reshaping cities to a large degree.