Retail downsizing and bankruptcy filings have led to the highest number of store closures in the U.S. so far this year since 2010 -- and that was before Macy's said it would shutter 12 percent of its base last week.
While that's bad news for the
impacted workers and local economies in the closing locations, it's a
necessary step for retailers as they refashion themselves to cater to an
accelerating consumer shift toward online shopping.
Other players are also poised to benefit.. . . more