Tuesday, April 9, 2019

75,000 more stores need to close across the US as online sales and Amazon grow

CNBC
Clothing retailers, consumer electronics companies and home furnishing businesses will need to close more stores across the U.S. as e-commerce sales proliferate, according to UBS.

In a note to clients this week, the investment firm said “store rationalization needs to accelerate meaningfully as online penetration continues to rise.” Assuming online sales’ share of total retail sales in the U.S. grows to 25% by 2026, from 16% today, roughly 75,000 more retail doors, excluding restaurants, need to close, analysts Jay Sole and Michael Lasser said.. . . more