The Death of U.S. Malls and What It Means

Last week, big box retailers such as Macy's M, +3.47%  and Nordstrom JWN, +1.80% reported weak results and both stocks came crashing down, inflicting damage on the retail sector and equity markets in general. I contend that what is happening to these companies is not a result of a weakening economy. Rather, it is due to a secular change â?? a paradigm shift â?? in consumer behavior and retail commerce. Investors fail to recognize this at their own peril.