Retail stores closing despite good economy


More than 20 major chains, like The Gap and Walgreens, announced they're closing stores.

It's expected that Sears and Stein Mart, to name a few, will file for bankruptcy soon, according to S&P Global Market Intelligence.

Texas Retailers Association's George Keleman said companies are finding the balance between online, and physical presence.

“A lot of cases, it’s companies basically kind of right sizing their operation, in trying to strike that balance between the virtual world and online shopping, as well as the physical brick and mortar presence,” said Keleman.

That also includes traditional mail or in-store advertising, as well as on tv and radio.

“Combined with the changing demographics and changing economic situations, it’s finding that balance of connecting with them through social media, through direct e-mail, through the web,” said Keleman.

Cushman & Wakefield reports the number of store closings in the US is expected to jump at least 33% to more than 12,000 this year. More than two dozen major retailers could file for bankruptcy.


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