Friday, October 13, 2017

What Is the True Number of Store Closings for 2017?

Image result for store closingRetail industry pundits have been sounding very sure about the trajectory of department and specialty store counts lately, and the consensus is that stores have been closing by the thousands.

Experts point to the growing consumer preference to browse online for the specialty goods that would ordinarily be found at brick-and-mortar locations. In the latest sobering research, Fung Global Retail & Technology found that as of the week ended October 6, retailers announced 6,101 store closings, up 183 percent on a year-over-year basis, according to the firm’s Store Openings & Closures Tracker. Not all of Fung Global’s analysis seemed dire, however. The firm also found that retailers had planned 3,427 in store openings, up 60 percent on a year-over-year basis.. . . more

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