Where Is The Retail Industry In The United States?

At the low end of the range, seemingly ubiquitous chain store Payless filed for bankruptcy and announced plans to close hundreds of stores.

At the other end of the range, Ralph Lauren Corp. says it will close the Polo flagship store in Fifth Avenue, one representing the past.

But the sign that does not resonate with shoppers today will become history.

Teenage clothing retailer Rue21 may be next.

The store, which has about 1000 stores, is expected to file for bankruptcy early this month, people familiar with the matter said.

Just a few years ago, it was sold to private Holdings Company Apax Partners for about $one billion.

"The industry is still looking for a breakthrough," said Noel Herbert, a Bloomberg industry research analyst.

"I don't know how many shopping malls can be born again."

The rapid collapse of a large number of retailers has caused hundreds of empty shops in the shopping centre, and the pain may just begin.

According to the data provided by CoStar group to Xiaobian, in the next few years, more than 10% or 1 billion square feet of retail space in the United States may need to be shut down, converted to other uses or reduced rent.

Slump also hurts employment.

According to the data released by the labor department on Friday, about 30 thousand people were laid off in the retail sector in March.

This is roughly the same as February, and the worst two months since 2009.

Richard Hein, chief executive of Urban Outfitters, spoke frankly about the current retail situation last month.

In recent years, there have been too many stores in shopping centers, and too many stores are selling the same thing: clothing.

"This creates bubbles, just like the housing market, which has burst," he said.

"What we are seeing now is the result: shops are closed and rents are down.

This trend will continue and may even accelerate in the foreseeable future.

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Christian Buss, an analyst at Credit Suisse Group, said that the closing speed of shops so far this year has exceeded that of the same period in 2008, the time when the last economic recession in the United States was raging.

In a report, he said that the number of shops closed so far this year was about 2880, compared with 1153 in 2016.

Buss said that according to the above inference, there may be 8640 stores closed in 2017.

This will be higher than the record set of about 6200 in 2008.

Debt default in retail industry also accelerated the trend of bankruptcy.

As part of the bankruptcy plan announced on Tuesday, Payless will close 400 stores, which have about 4000 stores and 22000 employees, exceeding the manpower needed to cope with weak demand.

HHGregg Inc., Gordmans Stores Inc. and Gander Mountain Co. also announced bankruptcy this year.

Meanwhile, RadioShack filed bankruptcy for the second time in eleventh years in accordance with the bankruptcy law in two years.

Other companies are seeking to close the store outside the bankruptcy court.

In the context of the severe situation in the department store, Sears holdings, Messi stores and J.C. Penney three companies plan to close hundreds of stores together.

Others are trying to pform themselves into e-commerce brands.

Kenneth Cole Productions said last November that it would close almost all its stores.

Last month, people familiar with the matter revealed that the Bebe Stores Inc. of women's clothing chain plans to take similar measures.

"Today, you can sit at home and shop with your cell phone or iPad," Buss said.

"The purpose and frequency of your going to the shopping center will be different from before."

However, even if we actively develop online business,

It is also difficult to keep pace with the growth of market leader Amazon.

According to EMarketer data, Amazon's headquarters in Seattle accounted for 53% of the total growth in e-commerce sales last year, while only 47% of the total share was shared by all other businesses.

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