Stores Are Closing at a Record Pace as Amazon Chews Up Retailers
By National Review,April 07, 2017
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 ubiquitousPayless 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.