blockitecture leaderboard

Massive Wave of Retail Store Closings Predicted

Sears, Macy's, and J.C. Penney are among the national retailers who've announced substantial store closings recently. Retail industry experts believe the closures are just the beginning of an approaching "tsunami" of shrinking and shuttering stores.
Scott Alderfer / Twitter

Krystina Gustafson looks at the coming "tsunami" of store closures as North America transitions to the "next era in retail".  

"Shoppers will likely see an average decrease in overall retail square footage of between one-third and one-half within the next five to 10 years, as a shift to e-commerce brings with it fewer mall visits and a lesser need to keep inventory stocked in-store, said Michael Burden, a principal with Excess Space Retail Services."

Wells Fargo analyst Paul Lejuez believes "it makes more sense for a retailer to have half the number of stores they once thought appropriate, and instead concentrate on a small store network and e-commerce business."

Full Story: A 'tsunami' of store closings expected to hit retail

Comments

building block set

NEW! Build the world you want to see

Irresistible block set for adults when placed on a coffee table or desk, and great fun for kids.
$25
Red necktie with map of Boston

For dads and grads: tie one on to celebrate your city!

Choose from over 20 styles imprinted with detailed city or transit maps.
$44.95
Book cover of Where Things Are from Near to Far

Where Things Are From Near to Far

This engaging children's book about planning illustrates that "every building has its place."
$19.95
Planetizen Courses image ad

Planetizen Courses

Advance your career with subscription-based online courses tailored to the urban planning professional.
Starting at $16.95 a month