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Liquidation sales began on May 22, and the stores closed by July 31. [162] Another 8 stores and a distribution center closed in 2018 while over 50 additional stores were expected to close between mid-2019 and late 2020. [163] [164] JCPenney filed for bankruptcy on May 15, 2020, and announced plans to close at least 242 stores. [165]
Research published by global retail analyst IHL Group in 2019 suggests that the so-called retail apocalypse narrative was an exaggeration, with "more chains that are expanding their number of stores than closing stores.” [7] That year, retailers in the United States announced 9,302 store closings, a 59% jump from 2018, and the highest number ...
On July 19, luxury clothing retailer Ted Baker announced they will cut 500 jobs. [105] On July 20, Marks & Spencer announced they were to cut 950 jobs. [106] On July 24, the Office for National Statistics (ONS) showed retail sales had returned to pre-pandemic levels. [107] John Lewis & Partners announced 8 stores would not reopen after the ...
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Nearly three out of 10 U.S. drugstores that were open during the previous decade had closed by 2021, new research shows. Black and Latino neighborhoods were most vulnerable to the retail pharmacy ...
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Supermarkets began opening dark stores to assist with distribution in geographical areas where there was a high demand for online delivery. [3] Retail companies with dark stores usually operate fleets of light trucks to deliver orders made online, particularly to inner urban areas, avoiding disruptions to offline store operations.
Venture capitalists have invested billions of dollars in fast grocery delivery services such as Turkey's Getir and Germany's Gorillas and Flink, in a race to meet soaring demand after lockdowns ...