Cyberattacks against accounting software firm Wolters Kluwer and the City of Baltimore in May showed how the newest wave of malicious hacking can have significant, often...Technologyread more
The European parliamentary election is the second largest democratic exercise in the world.Europe Newsread more
Biden had criticized Kim Jong Un as a "dictator" and a "tyrant" at a recent rally in Philadelphia. North Korean state media responded by calling Biden a "fool of low IQ" among...Politicsread more
Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
Microsoft shares have gained 133% since November 2015, outperforming a tech "basket of unicorns" over that stretch.Technologyread more
The president's state visit comes amid tensions with carmaker Toyota over potential auto tariffs. Trump has repeatedly threatened Japanese and European carmakers with tariffs.Traderead more
The IRS is about to release a new draft of Form W-4, which will more closely reflect the changes stemming from the Tax Cuts and Jobs Act. For workers, that means they'll need...Personal Financeread more
The Mega Millions jackpot has spilled over $400 million. It would be the ninth largest winning since the game began in 2002.Personal Financeread more
Trump was speaking at a meeting of Japanese business leaders in Tokyo during his state visit to Japan on Saturday.Marketsread more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
When commercial real estate investor Manny Khoshbin spent $2.2 million on the fastest production car in the world, he had no idea it would very quickly also become the...Autosread more
With retailers closing a record number of stores last year, malls have been experimenting with new types of businesses to drive traffic: Everything from restaurants and movie theaters to mini golf courses.
Now, there's a new strategy that's heating up – the gym. Over the last five years, gym leases in malls across the country have nearly doubled, according to commercial real estate information firm CoStar. They now account for 1 percent of all mall space in the U.S.
Meanwhile, gym memberships are also on the rise. Since 2009, 26 percent more people have joined a gym. That's 19.3 percent of the U.S. population, or 57 million people, data from the International Health, Racquet & Sportsclub Association said.
Mall operators are hoping gyms will not only bring people in to work out, but that they'll stick around and shop.
However, some experts say that's not really happening.
"Putting things in to get somebody to come to the mall is a good idea. The bad news is when it's something like a gym you don't get very much cross shopping," Jan Kniffen, CEO of J. Kniffen Worldwide Enterprises CEO, told CNBC's "On the Money" in an interview.
The retail consultant says people may go to a juice bar, or something that's related to their work out —but that's about it. As for malls that are putting in grocery stores, Kniffen says while that may drive foot traffic, it's only to that particular store.
"When you put in a grocery store, people do not go in the mall. They go into the grocery store, they shop, and they go home."
So is there solution to saving the mall? Kniffen said yes: Bankruptcy.
"A lot of these malls will go through Chapter 11, and after the debt is gone they can be something else, and they can be gyms, doctor's offices…and you can do things that don't have to generate as much dollars per square foot, as much rents as things have to now, to carry the debt loads," Kniffen told CNBC.
Currently there are nearly 1,100 enclosed malls in the U.S., but Kniffen stated that's 400 too many as more shoppers flock to Web shopping. As a result, suburban malls have destroyed downtowns across America, Kniffen contended, as businesses go belly up and customers dry up.
"We have 'over-malled,' we have over stored, we have over shopped America, and we're just getting worse every day as more moves online," he stated, adding that it's not all Amazon's fault.
"When Walmart was 20 years old in 1982 they were 3 percent of sales and they got 50 cents out of every new dollar of sales. Amazon is 20 years old, it gets 3 percent of sales and it's getting 35 cents out of every new dollar of sales, " Kniffen said.
He added: "Walmart destroyed traditional retailing over its rise and Amazon's destroying its traditional retailing over its rise." Ultimately, Kniffen predicted the online giant will buy Kohl's, in order to gain a foothold in brick-and-mortar retail.
But if not Kohl's, the retail expert says it will be a retailer with a large physical presence across the country.
"They're going to buy somebody or they're going to build a system because they're going to have to get next to the consumer," Kniffen added.
On the Money airs on CNBC Saturdays at 5:30 am ET, or check listings for air times in local markets.