Retail store closings are at their highest level since 2010 — and the hemorrhaging has only just begun. Just last week, The Post reported that Japanese fast-fashion darling Uniqlo had quietly shuttered five of its US locations since January. Uniqlo’s closures follow a slew of announcements so far this year by fashion stalwarts, from Ralph Lauren to Macy’s, that they’re shuttering dozens of stores. Department stores and national chains like Target that sell a lot of apparel got creamed in the first quarter — and continue to face heavy threats from all sides. Customers are flocking to Amazon and off-price stores for convenience and bargains, or spending their scarce discretionary income on experiences rather than apparel. The ease of online comparison shopping makes it hard for stores to raise prices, while weak wage growth means many shoppers can’t splurge. It all adds up to too many brick-and-mortar fashion stores.
http://nypost.com/2016/07/02/retailers-are-closing-faster-than-you-think/
