The Retail Apocalypse Could Claim an Estimated 12,000 Stores
2019 is just eight months old, yet there have been 29% more store closings this year than in all of 2018, and the trend shows no sign of slowing down. According to Coresight Research, the so-called “retail apocalypse” could claim up to 12,000 stores this year. Affected retailers include Gap, Victoria’s Secret, Walgreens, Pier 1, and Family Dollar, among others.
The pain is expected to continue into future years, according to an April report from UBS Securities. UBS analysts said 75,000 more stores would need to be shuttered by 2026 if e-commerce penetration rises to 25% from its current level of 16%.