. >> we have overmalled and overshopped america. we're getting worse as more moves online there's at least 400 too many. those may not get bull dozed they may not go away, but they are not doing to them what they did now. they're going to be different and they have to be community centers or things that don't generate nearly as much cash flow we closed 9,000 stores about last year. we opened about 3,500, 400, last year we had 11 major bankruptcies in retailing. it was one of the best years in retail >> wae keep thinking that amazon is basically destroying all retailers. is that the case or is this the case we built up too much or amazon and online shopping in general was the tipping stone. >> walmart was 3% of sales and i got 50 cents out of every new dollar of sales. it's getting 35 cents out of every new dollar of sales. >> really. >> walmart destroyed traditional retailing over its rise and amazon is destroying its traditional retailing over its rise just the creative destruction. the suburban mall destroyed downtown it went on a

. >> overstored, overmalls, overshopped america. we are getting worse every day as more moves om process. if there is almost 1,100 closed regional supermalls in the country. there is 400 too many many they may not go away. but they're not doing -- or now what they did then. they're different. and they're going to have to be community centers or things going on in them that don't generate as much cash toe flow. same with stores. we closed 9,000 stores i think about last year. we opened about 3,500, 4,000. we'll close -- we could close 10 to 11,000 stores this year. last year we had 11 bankruptcies in retailing. we could have more than that this year. >> we keep thinking amazon is destroying traditional retail. was it a case we were just built up and amazon and online shopping are the tipping stone. >> when wal-mart got 50 residents cents out of dollars solve np amazon gets 35 cents out of every new dollar of sales. >> wal-mart destroyed traditional retailing over its rise. and amazon is destroying its traditional retailing over its r