Retail store closings are at their highest level since 2010 — and the hemorrhaging has only just begun, the New York Post reported on Saturday. Japanese fast-fashion store Uniqlo has quietly shuttered five of its U.S. locations since January. Uniqlo’s closures follow a slew of announcements so far this year by fashion stalwarts, from Ralph Lauren to Macy’s, that they’re shuttering dozens of stores. “So many retailers are struggling,” said Garrick Brown, vice president of retail research, Americas, at Cushman & Wakefield. “You are going to hear, by end of summer, a whole lot more closure announcements.” As traditional clothing stores falter, Amazon is rising. The online behemoth has expanded its fashion assortment, trained shoppers to expect next- or same-day delivery, and is now poised to become America’s largest apparel retailer.
