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D-FOX Developing Information

ENJOY CORPORATISM: "America’s Retailers Are Closing Stores Faster Than Ever Because of Amazon"

Matt_ADMIN_Matt_ADMIN_ Administrator

The battered American retail industry took a few more lumps this week, with stores at both ends of the price spectrum preparing to close their doors.

At the bottom, the seemingly ubiquitous Payless Inc. shoe chain filed for bankruptcy and announced plans to shutter hundreds of locations. Ralph Lauren Corp., meanwhile, said it will close its flagship Fifth Avenue Polo store -- a symbol of old-fashioned luxury that no longer resonates with today’s shoppers.

And the teen-apparel retailer Rue21 Inc. could be the next casualty. The chain, which has about 1,000 stores, is preparing to file for bankruptcy as soon as this month, according to people familiar with the situation. Just a few years ago, it was sold to private equity firm Apax Partners for about a billion dollars.

“It’s an industry that’s still in search for answers,” said Noel Hebert, an analyst at Bloomberg Intelligence. “I don’t know how many malls can reinvent themselves.”

"...Say, 'GOD is sufficient for me.' In Him the trusters shall trust." (Quran 39:38)


  • Once retail stores are gone, so too will be gone one of the only kinds of jobs people can get without expensive degrees.
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