What: Malls are performing better than expected, pushing Unibail to be less radical than initially planned.

Why it is important: Retail may has morphed, but for now, some staples such as shopping malls resist when they are able to reinvent themselves.

Europe's largest mall operator, Unibail-Rodamco-Westfield, has reconsidered its decision to fully exit the U.S. market by 2023. Despite the pandemic's impact, the company's high-end American malls, including the Westfield Valley Fair in California, have shown strong performance. While the company has divested from some lower-quality properties, it continues to invest in its flagship malls, indicating confidence in the upscale mall business. This move is also strategic, as the company aims to manage its debt while optimizing its asset value.

Mall owner Unibail Rodamco is no longer planning to sell US assets