Retail Revival or Retail Apocalypse? Seems Like No One Knows

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Retail in 2019 may still be facing a 'retail apocalypse'. Or a revival. Seems like it really depends upon who you ask, as this piece from Footwear News explains.

How Retail Store Closures Are Stacking Up So Far in 2019, According to Two Very Different Reports

Is the retail apocalypse over? A new report points in that direction — albeit in blatant contrast to data reported elsewhere for much of the year.

According to a study released this week by global research and advisory firm IHL Group, in 2019, five retail stores are opening for every one that closes.

Of the 1,660 chains reviewed by IHL, 1,065 of them opened new locations this year — representing a 56% increase over 2018, the company found.

Meanwhile, store shutdowns were concentrated among a small number of retailers, with 20 companies accounting for 75% of all net closings in 2019, IHL reported, noting that bankrupt Payless alone represents more than one-fourth of all downsizing, with 2,354 closures. Overall, the study suggests 2018 saw the amount of chains shuttering stores peak while, so far in 2019, there has been a 68% drop in closures. Read More