How many retailers have gone out of business in the past 10-15 years? That photo shows good old Loehmann’s, the original high-end discount store. Fortunoff was originally a jeweler selling high end jewelry at steep discounts.
Macy’s absorbed multiple dept store chains x the USA somewhere in the late 90s. In the DC area, not one of the Metro area department stores of the mid-20th century is still in business. The economic boom stores have mostly closed, i.e., Borders, Circuit City, even Radio Shack.
Looks like we’re heading back to having “Main Street” with its Mom and Pop shops, with WalMart/Target, etc., and the high end malls.
There are simply not as many chain stores nowadays as in prior years. That’s part of this trend as well. As you note about the DC area, many old local chains went out of business. Off the top of my head, I can think of Woodies, Hecht’s, Lansburgh’s, Garfinckel’s, all gone . All used to have major anchor stores in DC area malls. There simply are not enough remaining chain stores to rent these vacant retail spaces.