It appears we will be seeing a bunch of brick and mortar store closings. Whether that will be due to the Internet or the strength of the economy still remains to be seen. However, we should be able to tell to some extent by the type of store closings. If they sell stuff that people don’t usually buy online or people have been using catalogs to buy for years, then the growth of Internet shopping probably has little to do with it.
From steve at motorcitytimes.comPosted on March 8, 2014
If you read the Detroit News, you read this about the impending ‘tsunami’ of retail stores closing today:
That day of reckoning, some say, has arrived, with one retail watcher predicting a “tsunami” of store closings this year.
That prediction, by Brian Sozzi of Belus Capital Advisors in New York, was made in January. Radio Shack announced this week that it was closing up to 1,100 of its stores, and Staples said Thursday it was shutting 225 of its locations.
Even retailers that recently have been in expansion mode are trimming their store counts. Teen retailer Aeropostale is planning to close 175 stores in coming years. The Children’s Place, while continuing to open stores, will shutter 125 of its weakest shops by 2016.