It's really more of a 'repositioning of retail.'
All of the “going out of business” signs may have shoppers thinking a retail apocalypse is upon us, but David Berliner, leader of the restructuring and turnaround services practice at business consultancy BDO, says it’s actually a good thing.
Rather, retailers are getting more strategic about how much square footage they have and what they use it for. And Target Corp. TGT, -0.95% has been focused on its small-format stores, which has also created opportunities for getting merchandise into customers’ hands more quickly. Moreover, John Mulligan, the company’s chief operating officer, said on the May earnings call the retailer was also selling more merchandise thanks to the model.
Moreover, consumer debt levels are high, exceeding $4 trillion for the first time, including mortgages, credit cards, auto debt and student loans.
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