Retailers Consider Store Closures Amid The Digital Shift

By  |  June 15, 2020
 | 
Guess store

The pandemic’s harsh impacts on retail continue to show themselves as brands report plummeting quarterly earnings and eye additional store closings. Inditex revealed what could be a blueprint for a novel online-offline model, while Ulta Beauty appears to be mulling the same strategy. And one retail expert says what is taking place is more an interaction revolution than a post-pandemic eCommerce revolution. All this, Today in Data. 

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    Data:

    1,254: Number of Ulta Beauty’s brick-and-mortar locations.

    $465M: First-quarter net loss for Inditex, which included a 308 million-euro charge for closing stores.

    100: Approximate count of stores in North America and China that Guess plans to close over the next year.

    44%: Share by which Inditex’s net sales fell in the three months from Feb. 1 to April 30 due to the pandemic.

    €1B: Amount Inditex will spend between now and 2022 to capitalize on the digital shift. 

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