Perhaps there is some hope that shoppers will come back to U.S. beleaguered malls. Macerich (MAC) and Simon Property Group (SPG) insiders certainly hope so as they have bought millions of dollars worth of their company’s stock.
(Reuters) – At a glitzy Chanel boutique in downtown Seoul, Kim Soo-yeon joined dozens of others in festive shorts and flare dresses, her eyes out for a clutch purse she had coveted for weeks during the coronavirus pandemic.A woman wearing a mask to avoid the spread of the coronavirus disease (COVID-19) shops at a luxury shop in a department store in Seoul, South Korea, May 1, 2020. REUTERS/Kim Hong-JiOne floor down in the Lotte Department Store, long lines of shoppers thronged bakeries and a health-supplement store while staff restocked shelves with freshly baked cakes.“I’m out shopping for the first time since the Lunar New Year holiday” in January, said 29-year old Kim, showing off the clutch she bought for just over 1 million won ($820), as she hastily put on a face mask to talk to a reporter. “It’s so warm and so good to be out finally.”
Source: Bobok til you drop: South Koreans roar back to malls as coronavirus curbs ease – Reuters