Praise be to Allah.
There is no reason why women should not have study circles that are exclusively for them, whether that is in the mosque or in one of their houses. Rather this is something that is prescribed in Islam. The women asked the Messenger (peace and blessings of Allaah be upon him) to give them a special session separate from the men, and he responded to their request.
Al-Bukhaari (7310) and Muslim (2634) narrated from Abu Sa’eed that a woman came to the Messenger of Allaah (peace and blessings of Allaah be upon him) and said: “O Messenger of Allaah, the men have taken all your time; give us a day when we can come to you and you can teach us what Allaah has taught you.” He said, “Gather together on such and such a day in such and such a place (according to a report narrated by Ahmad (7310), your appointment is in the house of So and so).” So they gathered and the Messenger of Allaah (peace and blessings of Allaah be upon him) came to them and taught them what Allaah had taught him. Then he said, “There is no woman among you whose three children die (before her) but they will be a shield for her from the Fire.” A woman asked, “O Messenger of Allaah, what about two?” and she repeated it twice. He said, “And two, and two, and two.”
Undoubtedly if a woman spends her time seeking knowledge that is better for her than wasting her time in going to the mall etc, but her intention should not be to fill her time so that she will not go to the mall; rather her intention should be to worship Allaah and draw closer to Him by seeking knowledge; to dispel her ignorance so that she can worship Allaah with proper understanding; and to teach other sisters in faith; and to raise a generation that is educated in the basic issues of Islam and its great teachings.
May Allaah bless us with beneficial knowledge and righteous deeds.