More than 10,000 stores announced closures in 2019; and UBS estimates that number will hit 75,000 by 2026. Victoria's Secret, Forever 21, GNC and others are among a number of retailers in the danger zone.
, which have poured money into private-label brands and are investing in technology to offer two-day free delivery as well as same-day.
Sears operated about 700 stores and had more than $7 billion in assets when it filed for bankruptcy, making it the biggest of a series of retail bankruptcies in recent years. In addition, the company now has been without a CEO for the last 12 months, despite Lampert's promises to the bankruptcy judge he would find a top-level executive to run the company. Lampert had stepped down as CEO on October 15, 2018, while remaining chairman of the board, as part of bankruptcy actions.This holiday season could be a crucial one for the retailer.
Yet J.C. Penney reported a narrower-than-expected loss in third-quarter fiscal 2019. The hope is that its turnaround efforts will gain some traction.Soltau's efforts to partner with largest fashion resale marketplace thredUP; significant changes in leadership, including a new chief digital officer; optimization of inventory levels and closing of underperforming stores may be contributing to results.
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