(Bloomberg Gadfly)-- Retail downsizing and bankruptcy filings have led to the highest
number of store closures in the U.S. so far this year since 2010 — and that was before Macy's said it would shutter 12 percent of its base last week...
I suspect that with the dwindling loyalty to GameStop, an increasing
number of store closures of the next few years is highly likely.
At this time last year, investors were talking about the «retail apocalypse,» as 2017 saw a record
number of store closures, but following a strong holiday season, retail stocks have been surging.
Not exact matches
While small in their physical footprints, the
store closings will be another setback for shopping malls that have been grappling with declining traffic and a rash
of store closures in the last year as a
number of chains have gone bankrupt or pared back their
stores amid the rise in online shopping.
Though
store closings are not considered new news, there was a plethora
of retailers officially announcing their
closures earlier this year, including a
number of industry leaders.
Clearly retail
store closure are weighing on investor minds and the consistent
number of closures has spooked Mr. Market.
The consumer book market last year was effected by the
closure of a
number of independent book
stores and especially by the collapse
of the biggest independent wholesaler Top Kniga with together with its in excess
of 500 retail
stores.
Having been caught with
closure of a
number of ebook
stores early in the ebook era (2007 — 2009) and losing the ability to redownload because
of business failures, as well as being unable to redownload books purchased overseas from some GB and USA sites.
Without any new openings, that rate
of closure would reduce the total
number of Barnes & Noble's
stores by a third - it currently has 689 retail
stores, and 674 college
stores.
Attention Kmart shoppers: There's another list
of possible
store closures floating around, and this time, the
numbers are getting serious.
One Wall Street analyst thinks the
number of retail
store closures is just getting started.