SAN FRANCISCO: The U.S. holiday shopping period kicking off on Friday may heighten Wall Street's perception of a growing divide between retailers adapting to online sales and those unable to shake their reliance on dwindling shopping mall traffic.
Supported by the lowest unemployment rate in nearly 50 years, consumer spending has helped insulate the economy from the White House's 16-month trade war with China. But the Commerce Department's report on October retail sales suggests consumer spending is slowing faster than economists expected. "The stores that are not going to do so well are the ones with a middle of the road proposition. The ones that aren't overly expensive but are also not great value." warned Neil Saunders, managing director of research firm GlobalData Retail.Shares of Nordstrom , GAP and Kohl's are down by between 18per cent and 35per cent in 2019 as they fight to compete against big-box rivals and Amazon.com.
"Size and scale matter to drive crucial investments in store remodels, digital channel upgrades, supply chain, and next-day, same-day delivery capabilities," according to Retail Metrics.
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