Tuesday, October 15, 2019

Credit Suisse Warns That U.S. Store Closings May Worsen in 2020

NREI
U.S. retail store closures in 2020 are at risk to be just as bad -- or even worse -- than 2019, according to a Credit Suisse report.

Domestic closures are trending to all-time record highs, led by the Softlines, also known as apparel or textiles, according to Michael Binetti and other Credit Suisse analysts.

There have been 7,600 U.S. store closures announced in 2019 to date, representing the highest number of closures ever at this point in the year, according to the firm’s 24-year-old U.S. Retail Store Closure Index. Around 75% of those stores are Softlines.. . . more