Just Pinned to Domestic and Global News: Retail Wreck? Over 1000 Stores Close in Single Week... It's been a tough week for the retail industry with more than 1000 stores closing their doors for good. Luxury retailer Michael Kors announced it would be closing over 100 locations and electronics giant Radio Shack closed 1000 locations across America. The retail industry which represents $5 trillion in economic impact has changed significantly over the past several years. More than 100000 retail workers have lost their jobs since October 2016. Industry analysts have been sounding the "retail apocalypse" alarm for the past few months but there are some who disagree. "I don't think [retail] is dead. It needs a facelift" said Joseph Hancock a professor of retail at Drexel University's Westphal College of Media Arts & Design. "Retailers really need to think outside the box on how they want to appeal to consumers to get them back into the malls." Hancock also told NBC News that many of the shopping dollars that went to traditional mall retailers have been moving online partly thanks to generous incentives. Amazon for example recently introduced Amazon Fashion which offers free two-day shippi
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