
Walmart Just Bought a Shopping Mall + People Are Baffled: Here’s What I Know
We all know Walmart as one of the largest employers in America, and also one of the most profitable retail chains. But many people are baffled by what the company just did.
Walmart just purchased an entire shopping mall in Pittsburgh, Pa. They paid $34 million for the mall, which is pocket change for Walmart.
Here is one of the weird things: It's not a shopping mall that is abandoned or shut down. This mall is still operating, with more than 100 stores inside of it.
Jonathan Zhang, a professor at Colorado State University’s College of Business, tells Retaildive.com, "Walmart could see this as an opportunity to repurpose underperforming malls into mixed-use spaces with a strong retail anchor — whether that’s a supercenter, a fulfillment hub or a combination of both."
Some also see this as a way for Walmart to control what stores can and will operate inside of the mall, thus eliminating some possible competition in the area.
Other experts think that the company could just be taking advantage of a good real estate deal.
Walmart offered few details about its plans, saying only that the company "is very interested in being part of any future redevelopment of this site."
Will we see Walmart entering the mall as an anchor store? Will they demolish the mall and build a Walmart? Or, could we be in for some sort of out-of-this-world Walmart mall of the future, that we don't know about yet?
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