Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality

Iraq Dinar/News is a popular topic among many topics this board offers. You must log in to see and participate in our Dinar sections.

Ever heard of Bitcoin? I encourage you to veiw my 4 minute video about the Bitcoin of Health Care CoinMD. Just load CoinMD.io/StylesMD set up a free 30 day test ride and contact me as needed. I have a Facebook informational page you can request to join for all my mist updates.

Neno

I can be reached by phone or text 7am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2017


Retail Wreck? Over 1,000 Stores Close in a Single Week

Share
avatar
Lobo
Moderator
Moderator

Posts : 26809
Thanked : 1385
Join date : 2013-01-12

Retail Wreck? Over 1,000 Stores Close in a Single Week

Post by Lobo on Sat 03 Jun 2017, 4:14 pm


Retail Wreck? Over 1,000 Stores Close in a Single Week

by Michael Cappetta and Stephanie Ruhle

It's been a tough week for the retail industry, with more than 1,000 stores closing their doors for good. Luxury retailer Michael Kors announced it would be closing over 100 locations, and electronics giant Radio Shack closed 1,000 locations across America.

The retail industry, which represents $5 trillion in economic impact, has changed significantly over the past several years. More than 100,000 retail workers have lost their jobs since October 2016.

Industry analysts have been sounding the "retail apocalypse" alarm for the past few months — but there are some who disagree.
[Is the Retail Industry Dead or just in a Funk?]
Is the Retail Industry Dead or just in a Funk? 2:46

"I don't think [retail] is dead. It needs a facelift," said Joseph Hancock, a professor of retail at Drexel University's Westphal College of Media Arts & Design. "Retailers really need to think outside the box on how they want to appeal to consumers to get them back into the malls."

Hancock also told NBC News that many of the shopping dollars that went to traditional mall retailers have been moving online, partly thanks to generous incentives. Amazon, for example, recently introduced Amazon Fashion, which offers free two-day shipping to its Prime customers.

Related: Macy's, JCPenney, Sears Stocks Slide Amid Retail Woes

With new digital players moving into traditional retail territory, department stores have been hard hit. Sears, Macy's, and JCPenney have all shut down locations over the past year. And the ripple effect of a single anchor store closing can be devastating: When a Macy's shut down in New Jersey, 107 people were laid off.

Department store closures also impact smaller boutiques. Zeynep Yurderi, owner and designer at Zeyzani, an independent retail store at the Moorestown Mall in New Jersey, credits her unique, handmade items for continuing to bring shoppers into her store — but when one of the mall's anchor stores shuttered, foot traffic declined, she told NBC News.

On the positive side, the changing retail industry is creating opportunities for some. Outlet malls and travel-related businesses have seen an increase in sales.

"In good times, people want a bargain. In bad times, people need a bargain," Steven Tanger, CEO of Tanger Outlets, told NBC News.

http://www.nbcnews.com/business/consumer/retail-wreck-over-1-000-stores-close-single-week-n767556

    Current date/time is Wed 13 Dec 2017, 10:37 pm