Investment bank UBS is forecasting that some 50,000 U.S. stores will close by the end of 2027. (AP ... [+]
Revelations 13:16-18 “Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666.”
Important Takeaways:
- 50,000 U.S. Stores Could Close By 2027 Because Of Spending Shifts And Tight Credit, UBS Forecasts
- Analysts at investment bank UBS are forecasting that some 50,000 U.S. stores are likely to close by the end of 2027, because of expected cutbacks in consumer spending, tighter credit and the continued shift to ecommerce.
- Store closings could accelerate to 70,000 to 90,000 if retail sales turn out to be weaker than expected, according to UBS.
- The pace of store closings has already accelerated this year, UBS said, with small chains and mom-and-pop stores being most at risk in the current economy. As of 2020, more than half of retail stores were operated by companies with fewer than 20 employees, and 68% of stores were operated by chains with less than 500 employees
- Banks are showing they are less willing to make consumer installment loans, which will hurt consumers’ ability to spend. UBS also expects there will be less capital available to allow entrepreneurs to open new retail stores.
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