"This mall is one of the best in our portfolio -- sales-per-square-foot -- in how well it performs," Bird said.
Forest City Enterprises of Cleveland owns the Town Center. They have properties in 27 states and three countries.
"I think our department stores do pretty well against their peers, so I'm not that concerned about them going anywhere," Bird said.
However, in the same time period, both Wal-Mart and Target recorded positive gains. Wal-Mart grew by 1.1 percent and recorded a profit of $3.78 billion, or $1.14 per share. Target reported a net earning of $489 million, or 77 cents per share.
On Wednesday, JCPenney stock plunged 10 percent after the New York Post and Reuters reported the company had credit problems. The company has since responded, reassuring investors they don't have credit problems and that all key vendors are continuing to make shipments.
"With all the changes and all the things they're doing, I think JCPenney is going to survive and I think they'll actually end up doing pretty well because they are trying to change with the times," Bird said.
In January, the Department of Labor and Statistics will discontinue its publication of its department store inventory indexes because of lack of demand. The data tracks all goods and services purchased, breaking them into 23 different categories.
Jesse Tron, manager of communications and media relations for the International Council of Shopping Centers, said the traditional dynamic as department stores as anchors for enclosed malls has changed.
"It use to be nothing else but department stores as anchors," Tron said. "Now, you're starting to see others.
"There will certainly be some department stores that do well and others that don't. It is possible that some will close, yes, but some will also expand," Tron said.
When landlords are left with empty anchor stores, Tron said, they've noticed new options when malls have to get creative to fill anchor spots. Target stores are now acting as anchors, where in the past they are generally a stand-alone store or in a strip mall. Because the anchor spaces are larger, landlords are now dividing the space once occupied by large department stores among multiple smaller retail tenants. Some malls demolish the anchor store space and build outdoor lifestyle spaces.
According to data reports from the International Council of Shopping Centers, department stores had a year-over-year growth of negative 1.8 percent.
"It's not going to be as clear-cut or cookie-cutter where it was always the department store as the anchor," Tron said. "I think we will see some variations of that as we move forward."
When asked if the mall had a plan if one of the anchor stores closed, Bird said he doesn't have a written plan of action to find a replacement.
"JCPenney is well known, so I'll probably always go back whether I have a good experience or not," White said.Reach Caitlin Cook at caitlin.c...@wvgazette.com or 304-348-5113.