State of retail: Are more stores closing or opening?

Despite recent headlines, more stores are opening than closing. The National Retail Federation says shopping is strong in 2023.

Retailers like Sears, Bed Bath and Beyond, and David's Bridal have recently made headlines for bankruptcy filings or decisions to close stores.

Despite these big names closing their doors, shoppers are heading out and spending causing more stores to open.

"What we saw during the pandemic was a shift away from services, towards goods. People stopped going on holiday, stopped eating out, stopped going to concerts and they spent that money on goods, they spent that money on retail. Retail has performed particularly strong, with $1.5 billion dollars in growth in the last two years alone," said Mark Mathews, Vice President of Research Development and Industry Analysis with the National Retail Federation.

Those shopping habits are fueling new business.

https://www.wfmynews2.com/article/new...

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