The US Commerce Department reported that Department stores are a “wipeout.”
E-commerce continue to wipeout brick and mortar store sales.
At the same time, e-commerce sales continue to rise.
It’s not the end of the world for bricks and mortar shopping. Consumers still eat out at restaurants, use fitness clubs, bars, etc. But, it does cause a rethinking of retail REIT and CMBS valuation and growth projections.