Amazon.com Inc., determined to reduce the size of its sprawling delivery operation amid slowing sales growth, has abandoned dozens of existing and planned facilities around the US, according to a closely watched consulting firm. MWPVL International Inc., which tracks …
via businessinsider: Gap, JCPenney, and Victoria’s Secret announced more than 300 store closures over the course of 24 hours this week. All three companies reported declining same-store sales during the critical holiday period. Tesla also announced it would shutter many of its 378 stores, with …
But online sales are hot, now at 20% of total retail. By Don Quijones, Spain, UK, & Mexico, editor at WOLF STREET. It’s a confusing picture. A monthly survey of retailers published by the Confederation of British Industry (CBI) indicated that just 4% of …
While E-commerce is slowly chipping away at brick and mortar, it is not the catch all reason for the collapse. E-commerce < 10% of retail sales. The remaining 90% is suffering for other reasons. (Hint: #DEBT)
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Only about half of retail is under attack from e-commerce, but that half is getting crushed. E-commerce sales in the first quarter soared 16.4% from a year ago to a new record of $123.7 billion (seasonally …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter And private equity firms are at the helm. March was a busy month for the brick-and-mortar retail meltdown which kicked off in 2015 and has since picked up speed. We’ve followed this progression from the early days. This …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter They’re the primary stores at malls. It happens category by category as commerce shifts bit-by-bit to the Internet: Music stores and video stores got wiped out first, then came bookstores. Shops that are able to offer …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter An astounding list of the meltdown: PE firms doomed the retailers. One of the big forces in the brick-and-mortar retail meltdown are private equity firms that acquired retail chains via leveraged buyouts during the LBO boom before …