This is not a blog to say the Meadowbrook Mall is dying. It is not a blog to say Meadowbrook Mall is thriving.

 

Rather, it is a look at a few numbers relating to retail dollars in Bridgeport and a discussion with a person who is intimately involved on the ownership side with the well-being of what is still the retail hub for this city. Even with that preface, I am certain many on social media will take time to articulate on the death of mall.

 

That is fine. Speak your mind, even though that is not what this is about.

 

It has been more than a year now since the pandemic hit. It has been more than a year now since businesses of pretty much every variety have been impacted by COVID-19. While it is noted practically all businesses are and have been impacted in many ways (some in the positive column), the focus here is on retail in general and the mall in particular in the course of the pandemic year.

 

Since the most recent quarter of financial numbers are not complete at the City Finance Department, I requested of Bridgeport Finance Director Monica Musgrave to do a comparison of the B&O retail dollars collected from February 2019 to February 2020 – or just prior to the pandemic and a big part of the subsequent shutdown – and the dollars collected from February 2020 to February 2021.

 

“There was a hit, and the numbers reflect that, but it is not as substantial as many may believe. You don’t want to see any revenue numbers decline, but at the same time the possibility is that the numbers will be bouncing back,” said Musgrave.

 

The numbers provided are for all retail in the City of Bridgeport through business and occupation taxes – not just the mall. However, she readily admits the mall is still the biggest single provider on that front.

 

In the February-to-February period prior to the pandemic, Bridgeport collected $2,141,619.13 in B&O in retail dollars. In the February-to-February period that included the pandemic, the number is $1,948,038.16. That equates to a drop of nearly $200,000 in B&O.

 

The actual drop of $193,580.97 seems big – and is certainly not insignificant – but the drop in the scheme of the recently approved $18 million-plus budget is not cataclysmic. Why? Because the numbers are still not too far off during a period of time when people could not shop at the main retail hub in Bridgeport for a good portion of the pandemic and others chose not to do so. It was the same at other retail spots as well.

 

At the same time, one has to wonder how much better it would be if the mall still had four anchor stores as opposed to two. Musgrave, however, is thankful for the two that remain.

 

“We’re fortunate that JCPenney is still there and Target. The numbers are still strong, but they have gone down,” said Musgrave.

 

Numbers went down for many reasons. As noted earlier, the mall was shut down, had limitations, and many simply chose not to go.

 

Then there was another reason. While some local shops closed their doors for good during the pandemic, many long-time national brands went by the wayside as well. And some of those, according to Joe Bell, the corporate communications director of the Ohio-based Cafaro Company that owns the mall, were doing quite well.

 

“It’s troublesome when a national brand that is doing extremely well at your location goes out of business due to a national shutdown,” said Bell. “We don’t have a lot of control of over the fortunes of these merchants and, to be honest, they don’t have a lot of control either at the local level such as the Meadowbrook Mall. When the government tells you to shut down your operations, and for a long period of time, you shut down, and that’s an incredible hit.”

 

Bell said retail establishments are not the only ones facing the dilemma. He said many genres of business felt the financial sting and are still feeling it even as many things are opening back up at full capacity.

 

“It’s been tough for everyone, including our own business,” said Bell. “To change that we want to continue getting back to the normal activities, including shopping and dining and all the other activities that take place at our retail establishments such as the Meadowbrook Mall.”

 

Bell said he gets the reason for reducing or even eliminating “normal activities” during the pandemic. Even so, it still had and continues to have implications.

 

“The regulations and restrictions were well intended to keep people safe and to keep the disease from spreading. We understand the reason for that,” said Bell. “We also know it may for a tough year; some areas hit much harder than others. Our business and thousands of others took a hit.”

 

Relatively speaking, even as stores close, the retail picture is not necessarily as gloomy as one may have thought. Still, Bridgeport is taking it fiscally as it always does – in a conservative manner.

 

The actual fiscal years dollars budgeted in the 20-21 year that will end June 30 is $1,950,000. The amount budgeted for 2020-21 is less than that at $1,800,000. That number would be a little more than $341,000 less than the city took in during the February 2019 to February 2020 period.

 

Musgrave, like any good finance director, hopes for a bounce back and for the numbers to be exceeded. She thinks it is possible, but also will not say if she believes for certain it will – that is what a good finance director does, and that is play it conservatively.

 

Bell, on the other hand, is pretty open about his optimism for the Meadowbrook Mall and the other properties under the Cafaro banner.

 

“We’re looking forward to a much better year and have indications the second half of the year with restrictions lifted and more people vaccinated that some real pent-up demand will be released, and it will result in people getting back to retail engagement,” he said. “As people get more comfortable, they’ll return to some of their former habits, and we think a big part of that will be meeting their consumer demands at retail establishments.”

 

The Meadowbrook Mall lost more businesses than it added during the ongoing pandemic, but the good news amidst plenty of bad news was that a few new shops opened or expanded. The real issue is that Bell said it is terribly problematic to land new clients at the present time.

 

“It’s difficult to try to sell any retail property to a merchant. First, you have to follow what the demand is in the midst of a pandemic. Second, you have to find out who is willing to go after the demand,” said Bell. “What we’ve seen is that few people are anxious to rush headlong into a new retail venture. A lot of things have been and remain on hold.”

 

The good news? Bell said business plans that were shelved are being put back into practice. Those plans that were iced as the pandemic exploded are starting to thaw. That does not necessarily mean new business, but it does mean opportunities are there again.

 

“Those discussions that were on hold have restarted. We’re thinking as the months progress, you may see businesses arrive here and elsewhere,” said Bell. “We are talking with potential tenants with business plans in mind. We’re seeing what’s possible and what’s available and after that it’s a question of how long it will take for things to progress to decide to not follow through on a business plan or to follow through. That’s where we’re at.”