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America’s Retailers Are Closing Stores Faster Than Ever

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 The chart says it all…

 

America’s Retailers Are Closing Stores Faster Than Ever

The rapid descent of so many retailers has left shopping malls with hundreds of slots to fill, and the pain could be just beginning. More than 10 percent of U.S. retail space, or nearly 1 billion square feet, may need to be closed, converted to other uses or renegotiated for lower rent in coming years, according to data provided to Bloomberg by CoStar Group.

The blight also is taking a toll on jobs. According to Labor Department figures released on Friday, retailers cut around 30,000 positions in March. That was about the same total as in February and marked the worst two-month showing since 2009.

 

SOURCE:  https://www.bloomberg.com/news/articles/2017-04-07/stores-are-closing-at-a-record-pace-as-amazon-chews-up-retailers

 

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 kbet    795

It is a combination of things. Between people not having as much disposable income, online shopping, and people just don't want to go to stores when there are wild animals, running around in them.

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 abigfatzero    2,159

Good, I hope the uber giant corps. go out of business, it will spawn a revolution in the mom and pop retail.

They can turn the abandon malls into retirement communities, with restaurants and movie theaters.

Maybe a grocery store where Sears or JC Penney use to be, maybe in the middle would be better, where the high end stores use to be.

I hate the mall....it killed the down town in most small towns, that, and slave mart.

Largest employers by state...

https://kek.gg/i/5D92xf.png

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 Robomont    144

The new,everybody gets a check,is why walmart is about to start building convenience stores.you heard it first from robomont!

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 abigfatzero    2,159
40 minutes ago, Robomont said:

The new,everybody gets a check,is why walmart is about to start building convenience stores.you heard it first from robomont!

There's a "neighborhood" slave mart in my town.

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 schon    778
4 hours ago, kbet said:

It is a combination of things. Between people not having as much disposable income, online shopping, and people just don't want to go to stores when there are wild animals, running around in them.

Precisely.Back to the Sears Roebuck model for shopping.

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 BleerBear    8

Online. Clothes shopping is useless at a store, they never have the right sizes. It's an expensive model. They should convert stores to showrooms. Stock all their inventory. You go in, try on, pick out and pay, and it's immediately delivered via warehouse to your home, the store is just a showroom.

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 apache54    4,161
8 hours ago, Robomont said:

The new,everybody gets a check,is why walmart is about to start building convenience stores.you heard it first from robomont!

IF you look at Family Dollar and the NEW downsized neighbor hood walmart stores, you'll see that there thoughts are nothing will be left except little local stores like this, hard times they see coming are real and there business models agree.

Note: these stores are being built now and have been for the past year, i know of many just built in my area and everywhere i go they just built another! 

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 Robomont    144

I havent seen one yet,Ne texas.but got lots of dollar stores with groceries popping up.

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