Overcapacity and the growth of online shopping could eventually result in a "crash of sorts" among lower- and midtier shopping malls, Mark Cohen, former CEO of Sears Canada, told CNBC on Tuesday.

"I don't think it's going to be abrupt," he said on "Squawk on the Street." "But ... the most popular malls will prevail, and the B and C malls won't."

Asked about an op-ed in USA Today on the impending extinction of shopping malls across the U.S., Cohen said there were too many malls, which themselves had too many stores.

The op-ed cited one prediction that 10 percent of enclosed malls could fail before 2022, while those catering to affluent shoppers should continue to do well.

(Read more: Storms walloped retailers; shoppers stayed home)