State of retail: Are more stores closing or opening?
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Published 2023-04-24
Retailers like Sears, Bed Bath and Beyond, and David's Bridal have recently made headlines for bankruptcy filings or decisions to close stores.
Despite these big names closing their doors, shoppers are heading out and spending causing more stores to open.
"What we saw during the pandemic was a shift away from services, towards goods. People stopped going on holiday, stopped eating out, stopped going to concerts and they spent that money on goods, they spent that money on retail. Retail has performed particularly strong, with $1.5 billion dollars in growth in the last two years alone," said Mark Mathews, Vice President of Research Development and Industry Analysis with the National Retail Federation.
Those shopping habits are fueling new business.
www.wfmynews2.com/article/news/local/state-of-reta…
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All Comments (17)
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I believe more stores will close because of theft and collapsing economy. Which is the truth.
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Who wants to buy clothes if you can't afford groceries.
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are those 'new businesses opening' tattoo parlors and marijuana dispensaries?
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Ahhhh…. American Greed has met that great man named: Karma
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More stores will close & more banks will go under !
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I’m about to close my store
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I can’t believe my local Rite Aid pharmacy is closing I was told that they were filing for bankruptcy but I didn’t expect it to be that bad for them to close all the stores and it only lasted eight years because my local is the Glen Cove location
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Maybe they will be like the new Walgreens stores where they have no inventory in the store - just order kiosks
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All these new stores doesn't mean more jobs in the long term,clothing and the restaurant business is the hardest to be successful at;Foot Locker opening up in smaller cities won't work if the shoes there are too expensive;but shoe stores like Payless will.
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The buy online and pick is good for groceries but other items is really corny might as well have it shipped to your house🙄what is use of the brick and mortar store then?
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This is sad they were a g reat company
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3:59 wtf is that garbage playing in the background, oh my God it hurts so bad how trendy it wants to be
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The company ROSS might work as small stores.
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Bed, Bath and Beyond shouldn't have dropped My Pillow. Screw all woke companies, the sooner they go under the better.
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This is what build back better looks like. Biden's America.
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Hell yah 😂
