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Amazon becomes a coveted mall tenant: WSJ

  • Amazon.com, long seen as a villain by shopping center owners for driving their brick-and-mortar retail chain tenants out of business, is now coveted as a tenant by mall landlords, the Wall Street Journal reports.
  • While chains like Sears Holdings and Macy's trim back their physical stores, Amazon has been building up its presence and is experimenting with new physical retail formats.
  • Especially attractive is the kind of consumer that Amazon is likely to draw, given the retailer's rich database of consumer data.
  • Federal Realty Investment Trust (NYSE:FRT) CEO Don Wood says, "The idea of more demand from [Amazon] is a huge positive for me," and could motivate other grocers to boost investment in their own stores.
  • Amazon is starting a new grocery store chain with dozens of locations and it's testing Amazon Go cashierless convenience stores and stores that sell items with ratings over four stars from its website.
  • Previously: Amazon coming in big with new grocery store concept (March 4)
  • Shopping center tickers: SPG, PEI, MAC, CBL, WPG, KIM, EPR, WSR, SITC, TCO, BRX, SRG, WHLR.

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