America’s most iconic retailers are shutting down stores and laying off thousands — and this could be just the beginning
Ashley Lutz
BusinessInsider.com
Jan. 16, 2016
Two of America’s most iconic retailers are shutting hundreds of stores, and experts think more closures will follow.
Walmart and Macy’s have recently announced store closures and layoffs. Walmart is closing 269 stores, including those under the Express, Neighborhood Market, and Supercenter names. Macy’s is closing 40 stores in the beginning of this year.
Analysts at RBC Capital Markets believe that this is part of a larger trend in retail, as more customers shop online instead of in stores.
“Macy’s announced store closings could have a number of implications on the overall retail landscape,” the analysts write. “We believe Macy’s decision will catalyze other specialty retailers and department stores to take a harder look at their boxes in these underperforming centers.”
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