2019 Bad Start for Retail Stores Closing, Bankruptcies: Kohl's Michaels Gap Nordstrom

in economy •  6 years ago 

So far in 2019 the retail apocalypse, that has been going on for a few year, is continuing as several stores closings and bankruptcies have already been announced. We see the bankruptcy of personalized gift retailer Things Remembered and also cosmetics chain Beauty Brands. Also, we see store closure announcements from the likes of: Kohl's, Banana Republic / Gap, Target, Nordstom, Christopher & Banks, Michael's and many more. This comes as U.S. consumers are suffering with the lowest savings rate in nearly 6 years and seem to be spending less overall. Amazon is taking advantage of some vacant retail space as the company has opened distribution warehouses in some of the vacated buildings.

economy retailsales retailapocalypse financialnews recession
6 years ago by

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