In a mixed holiday shopping season for retailers, the off-the-mall retailers fared better than those located at the mall, said analysts.
"It was very disappointing month for most of the mall-based retailers — traffic really challenging, people shopping online," Brian Tunick, JPMorgan retail analyst, told CNBC's "Squawk on the Street" on Thursday.
Tunick predicted that as more people shop online and visit outlet stores, the third and fourth tier malls could be forced to close down. "The A and B-plus volume malls are where the action is," Tunick said. He predicted at least 300 mall closings over the next five to 10 years if e-commerce and mobile commerce ultimately becomes 20 or 25 percent of retail sales.