Portland SEO's Augusto Beato says it's premature to declare that the retail apocalypse is over without assessing the impact of a soaring economy and retail chain closures that have left market shares to those still operating.
Retail apocalypse is a term used to describe the ways a shift in consumer spending patterns may be impacting the traditional brick-and-mortar retail store business model.
Beato, the CEO of Portland SEO, was reacting to a pronouncement by Neil Saunders, managing director of GlobalData Retail, that the, "American retail sector is enjoying a renaissance."
Retail stores seeking to improve their online presence to boost sales may engage the services of Portland SEO by clicking here. They may also reach Augusto Beato through this link.
Saunders based his statement on sales of Target's stores rising 6.4 percent during the second quarter, which is its biggest increase since 2008 when the retailer first started reporting that metric.
Target, Walmart, Nordstrom, Kohl's, and TJX Companies reported strong earnings results this quarter.
In July, retail sales were up 0.4 percent on a seasonally adjusted basis, an increase of 4.9 percent unadjusted year-over-year, according to The National Retail Federation.
Because of these figures, analysts including Saunders were of the view that the tide may be turning on the retail apocalypse, which wiped out thousands of stores.
Beato, however, agreed that there is a divide growing between stores who have been able to adapt to changing times and those who are now lagging behind.
Target has been investing in its stores, opening smaller locations in urban centers, rolling out new partnerships and private-label brands, and doubling down on e-commerce, an area where it has lagged behind its competitors.
On the other hand, both Macy's and J C Penney's stock tumbled earlier this month after reporting earnings. JCPenney was down by as much as 25 percent in premarket trading and downgraded its full-year guidance for earnings.
SOURCE: Press Advantage [Link]
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