Double Digit Decline in Floor Space in 2016 Continues Into 2017
The physical presence of the sporting goods industry declined 8.2% in 2016 among major chains to 189,997,000 sq. ft. from 206,903,000 sq. ft. at the end of 2015, and various bankruptcies and planned reductions by solvent retailers reacting to the evolving retail landscape suggest that that pace will actually accelerate to a 12.6% decline in 2017 to 166,128,000 sq. ft. Much of this retail contraction has been offset by the growth in digital commerce, of course, but that has mainly benefitted the largest retailers with the resources to construct an omni-channel business as well the major brands who are aggressively ... Log in to view full article.