Retailers are bracing for a fresh wave of store closures at the start of the new year.
The industry is heading into 2017 with a glut of store space as shopping continues to shift online and foot traffic to malls declines, according to analysts.
“If you are weaker player, it’s going to be a very tough 2017 for you, ” said RJ Hottovy, a consumer equity strategist for Morningstar.
He said he’s expecting a number of retailers to file for bankruptcy next year, in addition to mass store closures.
Nearly every major department store, including Macy’s, Kohl’s, Walmart, and Sears, have collectively closed hundreds of stores over the last couple years to try and stem losses from unprofitable stores and the rise of ecommerce.
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