According to Zero Edge, 2017 has already broken all records with 8,640 stores closing Bebe stores being the latest casualty. And while high rents and a shift to online purchasing may be the cause, the decline of the middle class might be a reason: people don't have enough money. Check out also Dead Malls.
The over-storing, including the influx of fast-fashion and off-price chains, has resulted in a brutally competitive landscape that made difficult for retailers to raise prices. “A pair of men’s dress pants costs less today than they did a decade ago,” Manny Chirico, chief executive of Calvin Klein and Tommy Hilfiger parent PVH Inc., said in a recent interview.
* * *
Then there are retail rental rates, which across top US markets, such as New York, remain the highest in the world. For years, retailers could afford the egregious demands by landlords. But as overall traffic and volumes have declined, this has also prompted an exodus of outlets even among the most desired locations, leading to a surge in "fors rent or lease" signs popping up in unexpected places like Madison Avenue's "golden mile."
|Study: Money Makes People Act Less Human|
|No-interest MasterCard Aimed at Devout Muslims|
|Marvel Lawyers Argue that Mutants Aren't Human|
|"Oxfam estimates that just 1 percent of the world’s population will own more than 50 percent of the world’s wealth by 2016."|
|Living Off Bitcoin for a Week Kinda Sucks|
|“A machine meant to hurl rockets into space.”|
|Fake Name Generator|
|“Are the puppets coming for our jobs?”|
|“Research that could engineer dinosaurs back into existence within the next five to 10 years.”|
|Japanese Robot Serves Ice Cream From Inside a Vending Machine|
|How to Avoid Jury Duty|
|What Computers See When They Watch a Movie|
|“The only thing worse than assuming that carbon removal will save the day is assuming it will save the day.”|
|The (Very Scary) People of Public Transit|
|Chinese warehouse organises, packs, and fulfills 200,000 orders a day with four people|
|CaptchaTweet: Write Tweets in Captcha Form|
|David Reeves' Paper Cutouts Inspired by Classic Cult Movies|