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Research published by global retail analyst IHL Group in 2019 suggests that the so-called retail apocalypse narrative was an exaggeration, with "more chains that are expanding their number of stores than closing stores.” [7] That year, retailers in the United States announced 9,302 store closings, a 59% jump from 2018, and the highest number ...
The company continued to struggle through the retail apocalypse, and in late summer of 2022, Bed Bath & Beyond announced plans to close 150 stores, lay off 20% of its corporate and supply chain staff, and eliminate the role of COO and CSO within the company. Liquidity was raised to about $1B after a loan and additional financing were secured.
Closed the majority of its retail stores in 2021 mainly due to the COVID-19 pandemic, with merchandise moved online and to department stores such as Target and JCPenney. [57] Edison Brothers Stores – operator of numerous shoe and clothing chains, including Bakers Shoes, Wild Pair, J. Riggings, Oaktree, Foxmoor and Fashion Conspiracy. Company ...
In 2021, Jacqueline Eide, a pharmacist who spent 15 years at Bartell’s (eventually becoming director of retail operations) fled Seattle to buy the town’s 50-year-old corner drugstore, which ...
Dozens of regional and national chains have collapsed over the years, even before the retail apocalypse got started. 12 department stores that imploded before the retail apocalypse even began to ...
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The term "retail apocalypse" refers to the mass closure of brick-and-mortar stores by retailers which accelerated in 2017 and was further exacerbated by the COVID-19 pandemic. [ 3 ] [ 4 ] [ 5 ] These closures have been blamed on ecommerce , income inequality , big box stores , and an increasing preference by consumers to spend on services ...
The US has 4.15 square feet of retail food space per person, which is nearly 30 times higher than in 1950, according to CoStar Group data cited by the Wall Street Journal. But demand hasn't kept ...