U.S. Retailers Have Closed More Stores This Year Than All Of 2018

Retailers sent out 2018 on an optimistic note, with strong consumer spending and an unexpected comeback of brick-and-mortar stores. But 5,994 stores have closed in the U.S. so far this year, more than last year’s total of 5,864, the Wall Street Journal reported, citing data from Coresight Research. “I don’t think malls are out of the woods yet,” S&P Global Ratings analyst Ana Lai told the Journal. S&P has a negative outlook on the U.S. retail sector overall and predicts that about 12 of the 136 retailers it rates will default this year, four times the average annual rate. Read more at The Real Deal.