More than 90 million square feet of retail space has been shuttered this year, and with the retailer Bon-Ton announcing this week it would close 200 of its stores, 2018 is on track to break last year's record for lost stores.
"This is just another example of one of those big box retailers who weren't nimble enough and really listening to the changing times," said Melissa Gonzalez, founder and CEO of Lionesque Group.
In the first four months of 2018, retail giants like Toys "R" Us, Sears, and Sam's Club have closed all or some of their locations. Moody's distressed-level watch list predicted that others, such as Guitar Center, J. Crew, and David's Bridal could be next.
There have already been more store closures in 2018 than there were in all of 2016. And as each brick-and-mortar shop shutters, it creates potential customers for online retailers like Amazon.
"They have data at their fingertips, they're really at the pulse of understanding what consumers want," said Gonzalez in an interview Friday on Cheddar. "They can serve up the items that you know we want, and present things online before we even know we want them, and they can target us in ways department stores aren't able to do."
For full interview, [click here](https://cheddar.com/videos/2018-the-year-of-retail-closures).
Healthcare policy is shifting fast, raising questions about drug prices, Medicare and access. Leap Health CEO Hani Elias explains what patients need to know.
The U.S. job market is cooling as hiring slows and employers turn cautious. LinkedIn’s Kory Kantenga breaks down jobs, wages, spending and AI’s impact.
AI is entering a new phase as enterprises move beyond experimentation and demand measurable returns. Appian CEO Matt Calkins discusses what comes next.
Commercial Metals CEO Peter Matt reveals how a $2.5B acquisition spree is transforming the 111-year-old steelmaker into a construction solutions powerhouse.
Angelo Zino, Senior Vice President and Technology Equity Research Analyst at CFRA, breaks down Big Tech earnings, AI spending, and what's next for the Mag 7.
Big Tech is pouring billions into AI. Ray Wang, CEO of Constellation Research, explains what Meta and Microsoft's earnings reveal about those investments.
