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40,000 U.S. Retail Stores Could Close By 2030
40,000 U.S. Retail Stores Could Close By 2030
UBS consumer analyst Michael Lasser told clients that a further rise in e-commerce penetration, from about 22% today to as high as 27%, could force the closure of 40,000 U.S. retail stores by 2030.
The warning comes as more than 10,000 stores have closed since late 2023, and shows how the shift to e-commerce is pressuring brick-and-mortar retail footprints nationwide.
Lasser's forecast is that e-commerce penetration rates in the U.S. will top 27% by the end of the decade, up from the current 22%.
Many...
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Foreign Cargo Ship Struck By 'Massive Projectile' Just Off Iraq
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A commercial cargo ship navigating the Arabian Gulf was struck by an unidentified projectile, triggering a "large explosion," according to the United Kingdom Maritime Trade Operations (UKMTO).
The maritime strike took place approximately 65 nautical kilometers (40 miles) southeast of Umm Qasr, Iraq. At this time, the UKMTO noted that it is unaware of any environmental damage resulting from the blast.
Source: UKMTO
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