Retailers May Have To Strike A Grand Bargain

Closeageddon is how analysts at Jefferies are describing the retail store shutterings in the U.S. With chains run by big names such as Nike Inc, Apple Inc and Hennes & Mauritz AB closing doors, and icons including Macy’s and Bloomingdale’s joining them, the challenge facing the sector is worsening. Adidas AG warned last week that the suspension of store trading in China would cost it about $1 billion in lost sales. Add in closures across the U.S. and Europe, and multiply that by the number of household names retreating, and the bill to the retail industry may be astronomical. Read more at Bloomberg.