The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
the staff of the Ridgewood blog
Ridgewood NJ, brick-and-mortar stores have been grappling with significant challenges over the past decade. The COVID-19 pandemic and the meteoric rise of e-commerce have severely impacted traditional retail, leading to widespread closures. This phenomenon, often referred to as the “retail apocalypse,” has dramatically reshaped the commercial landscape since it began around 2010.
Continue reading The Retail Apocalypse: Ridgewood’s Battle with Store Closures
the staff of the Ridgewood blog
Paramus NJ, in the latest blow to the retail sector, discount home goods retailer Big Lots has announced plans to shutter additional stores this year, and the company may be facing the threat of permanent closure. This revelation highlights the ongoing financial difficulties faced by major chains as inflation-weary consumers tighten their spending.
Continue reading Big Lots Faces Financial Struggles and Store Closures Amid Economic Challenges
Years of overbuilding and the rise of online shopping have come to a head; malls as ‘energy suckers’
By Suzanne Kapner
April 21, 2017 7:53 p.m. ET
American retailers are closing stores at a record pace this year as they feel the fallout from decades of overbuilding and the rise of online shopping.
Just this past week, women’s apparel chain Bebe Stores Inc. said it would close its remaining 170 shops and sell only online, while teen retailer Rue21 Inc. announced plans to close about 400 of its 1,100 locations.
“There is no reason to believe that this will abate at any point in the foreseeable future,” said Mark Cohen, the director of retail studies for Columbia Business School and a former executive at Sears Canada Inc. and other department stores.
https://www.wsj.com/articles/brick-and-mortar-stores-are-shuttering-at-a-record-pace-1492818818