It’s been a tough last few months for brick and mortar retailers as many are reporting lower same-store sales like GAP, Kohl’s and Nordstrom while others are having increases like Target, Pottery Barn, and Best Buy.
I am celebrating 25 years as the Retail Doctor. I put myself through college working at the Broadway Department Store. Back then, before someone could use any credit card, we had to look up their account number in little booklets with 3-point type. If the number was listed, we had to call for authorization.
This week, two analysts from UBS gave us the most shocking headline which said 75,000 stores will need to close by 2026. They argue that if online continues to steal market share, there simply won’t be the need for so many stores.