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Posted >1 y ago
Responses: 3
No surprise. I know two malls in different states slowly dying off. I also didn't know Sears owns KMart.
And how did Macy's become so big anyway? They came out of nowhere a few years ago and then hit a brick wall. What was so great about them?
And how did Macy's become so big anyway? They came out of nowhere a few years ago and then hit a brick wall. What was so great about them?
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SSG Shavonde Chase interesting numbers: Stores are closing at an epic pace. In fact, the retail industry could suffer far more store closures this year than ever.
Brokerage firm Credit Suisse said in a research report released earlier this month that it's possible more than 8,600 brick-and-mortar stores will close their doors in 2017.
For comparison, the report says 2,056 stores closed down in 2016 and 5,077 were shuttered in 2015. The worst year on record is 2008, when 6,163 stores shut down.
"Barely a quarter into 2017, year-to-date retail store closings have already surpassed those of 2008," the report says.
If stores do close at the rate Credit Suisse is projecting, it could mean America will lose more than 147 million square feet of retail space this year.
Brokerage firm Credit Suisse said in a research report released earlier this month that it's possible more than 8,600 brick-and-mortar stores will close their doors in 2017.
For comparison, the report says 2,056 stores closed down in 2016 and 5,077 were shuttered in 2015. The worst year on record is 2008, when 6,163 stores shut down.
"Barely a quarter into 2017, year-to-date retail store closings have already surpassed those of 2008," the report says.
If stores do close at the rate Credit Suisse is projecting, it could mean America will lose more than 147 million square feet of retail space this year.
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