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A staggering amount of U.S. retail stores closed in 2017

Yahoo News

An estimated 7,795 U.S. retail store closures were announced in 2017, according to a new research note from UBS, setting a new record.  

Store closures across the U.S.

Previously, the biggest slew of U.S. retail closures came in 2008 with 6,163 locations shuttering, according to a 2017 report by Credit Suisse. That report added that 5,077 stores closed in 2015 and 2,056 stores in 2016.

Looking at six traditional retailers who closed stores in 2017 — JCPenney (JCP), KMart (SHLD), Macy’s (M), Payless, RadioShack, and Sears (SHLD)  — Yahoo Finance put together a map showing the wave of about 2,750 closures across the U.S.

By David Foster

Hope for 2018

Despite the seismic shift toward e-commerce, all is not lost for traditional retailers.

“With e-commerce sales likely to gain further penetration in the coming years, we think store closures will probably be a prevalent theme in 2018 as well,” UBS wrote. “That said, some signs are emerging that demand for in-store purchases and the supply of physical locations could be reaching an inflection point.”

After shedding surplus stores, the recent passage of U.S. tax reform could help retailers compete online against less established internet companies.

Many e-commerce-only companies are “unprofitable or generate only a small profit at best,” UBS stated. “As such, we believe the tax reform should provide traditional retailers with significant ammunition to invest in price and in other areas of their business so as to gain a competitive edge over their internet competitors. This is sure to be a focus in 2018.”

Furthermore, certain tactics employed by traditional retailers embracing the internet era are working against upstart online competitors.

“Specifically,” UBS analysts wrote, “We’re seeing retailers embrace partnerships with Google and third-party delivery services and leveraging their store footprints to provide incremental services such as buy online, pick up in-store, curbside pickup, and free returns to stores.”

https://finance.yahoo.com/news/staggering-amount-u-s-retail-stores-closed-2017-161401876.html

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7 Responses to A staggering amount of U.S. retail stores closed in 2017

  1. Jolly Roger says:

    “….Despite the seismic shift toward e-commerce….”

    They’re trying to hide the economic collapse behind the claim that Amazon dot com is taking all the retail business, but Amazon doesn’t sell houses or cars, and no one’s buying them either. People are simply too broke to buy stuff.

    Another factor to consider is that no one is selling anything that isn’t a piece of crap designed to break shortly after coming out of the package. I buy only what I absolutely need, because these Chinese-made products we’re limited to are garbage. Keep ’em.

    I’m applauding the death of retail businesses, because all they’re selling is crap, and you can’t find a good hardware store anywhere.

  2. # 1 NWO Hatr says:

    “We’re seeing retailers embrace partnerships with Google and third-party delivery services and leveraging their store footprints to provide incremental services such as buy online, pick up in-store, curbside pickup, and free returns to stores.”

    What I’M seeing is the shift from small business’s to MEGA-CORPORATIONS.

    Then EVERYTHING will be cr@p, once you’re limited to only ONE item manufactured by only ONE corporation.

    • NC says:

      100% agree with you, #1. That’s exactly how I see it going, too.

      • # 1 NWO Hatr says:

        Actually, I should have been a bit more specific, NC… I meant we would be limited to only ONE brand of any given item, made by only ONE company… no other options.

        Sure glad I found out the donut shop has wi-fi, great for the days the library is closed (until 1:00, or sold out, anyway).

        Lunch, bowl, & cancer cure time. I think I’ll hit A&W for a short while, later on today. 🙂

        • Katie says:

          #1, the roaming poster. Love it!

          • # 1 NWO Hatr says:

            Had internet 24/7 with Verizon when I moved here, Katie, but $140+ a month has been way out of my range for a while.

            Pop. around 10,000 here… there’s only 2 grocery stores (Safeway, Thriftway), and 5 fast food (I call them fat food) places (A&W, Subway (NEVER!), Dairy Queen (drive-thru only), Mickey D’s (they have wi-fi, but I wouldn’t be caught dead there, even for that), and I’m pretty sure there’s a Taco Time down the road.

            In spite of the lack of ‘amenities’, I STILL LOVE THIS PLACE!!!!! 🙂

            That said, I see only one new article up, so I guess it must be about time for another bowl & dinner.

          • Katie says:

            🙂 🙂

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