{"id":1255415,"date":"2023-04-24T09:10:05","date_gmt":"2023-04-24T13:10:05","guid":{"rendered":"https:\/\/bugaluu.com\/news\/retail-store-closures-to-sharply-accelerate-going-forward-ubs-research\/1255415\/"},"modified":"2023-04-24T09:10:05","modified_gmt":"2023-04-24T13:10:05","slug":"retail-store-closures-to-sharply-accelerate-going-forward-ubs-research","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/retail-store-closures-to-sharply-accelerate-going-forward-ubs-research\/1255415\/","title":{"rendered":"Retail store closures ‘to sharply accelerate going forward’: UBS research"},"content":{"rendered":"
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Bed Bath & Beyond’s (BBBY<\/a>) bankruptcy<\/a> filing on Sunday likely foreshadows other retail busts in the years ahead.<\/p>\n

New research out of investment bank UBS underscores the implications of the costs related to operating retail stores, such as leases in top malls and hourly worker wages.<\/p>\n

UBS retail analyst Michael Lasser<\/a> estimates that 50,000 retail stores will close out of the current base of 940,000 stores in the United States by 2027, excluding gas and food service stations.<\/p>\n

“While there was a pause on store closures over the last few years, we believe this activity is set to sharply accelerate moving forward,” Lasser stated.<\/p>\n

A Bed Bath & Beyond retail store in Elmsford, Westchester County, New York State on September 2, 2022.<\/figcaption>
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The retail sectors that will see the most closures, based on Lasser’s work, includes clothing accessories and consumer electronics stores at an estimated 23,000 combined.<\/p>\n

Lasser pointed to several key drivers for the looming closures:<\/p>\n