Nike Just Poured Gasoline on the Retail Bonfire
It's already been a terrible year for traditional retailers.
Thus far, the industry has announced plans to close 6,700 stores this year, more than any other year on record, and there's still two months left in 2017.
It's clear what's driving this shake-up. The rise of e-commerce is making brick-and-mortar stores less appealing, and mall traffic has subsequently declined, pressuring even strong companies.
Source: Fool.com