Brick & Mortar Retailers Continue to Struggle.
As an update to my October 4, 2016 blog 7 More Retailers on the Verge of Bankruptcy, today fashion icon retailer BCBG MAXAZRIA announced it will is closing stores and shifting its focus to e-commerce and wholesaling through other retailers and licensing.
Seth Lubove, a spokesman for BCBG at Sitrick & Co. stated, "Like so many other great brands, BCBG has been negatively impacted by the growth in online sales and shifts in customer shopping patterns and, as a result, has too large a physical retail footprint."
The extent of the store closings and layoffs has not yet been announced.
Retailers need to hasten the transformation of their store front retail concept to online sales.