Time magazine quoted Partner Ron Friedman in a feature story about the demise of American shopping malls.
By Josh Sanburn
“We are over-retailed,” says Ronald Friedman, a partner at Marcum LLP, which researches consumer trends. There is an estimated 26 sq. ft. of retail for every person in the U.S., compared with about 2.5 sq. ft. per capita in Europe. Roughly 60% of Macy’s stores slated to close are within 10 miles of another Macy’s.