If the carnage in the retail industry seemed bad last year, it pales in comparison to the damage the sector is suffering in 2019. Already above the pace 2018 set, US store closing could exceed 12,000 this year.
That’s according to Coresight Research, which pegs the count of retail outlets that have closed in 2019 at 7,062, versus 3,017 stores opening. Last year, 5,864 stores closed and 3,258 opened. Beyond the shuttered facades lining main streets across the country, the human toll in terms of jobs lost is another impact. Challenger, Gray & Christmas counts 53,248 announced retail job cuts through June, compared to 98,563 for all of last year. Here’s a rundown highlighting much of the damage in 2019… CBS News