Last year was a tough one for Barneys. The luxury retailer shuttered 15 of its 22 stores and turned the 2019 holiday season into a fire sale as it prepared to close its signature store in Manhattan. Other major retailers struggled, too, with more than 15 of them filing for Chapter 11 bankruptcy.
The rise of online sales, now more than 11% of commerce in the United States, is a factor, and so are tariffs. Some of last year’s most popular goods, including electronics, shoes, and hats, were affected by the trade standoff with China. . . . more