As the e-commerce industry continues to grow, large, well-known retailers are losing an ample amount of business. Sears, Macy's, Nordstrom, Sports Authority and Aeropostale have been the retailers who have faced the largest deficits.
In the past year, Sears has seen a negative revenue change of 19%. In results they plan to close 50 locations within the year. Sears sister store K-Mart has also been facing a negative revenue market with many locations closing as well.
Macy's has seen a revenue change of negative 3.7% and has had a 30% decline in revenue over the past year. Macy’s has had competition with the e-commerce industry as well as lost inventory due to very warm winters. It Is noted that Macy's will be closing 40 stores within the year, which will result in layoffs for thousands of employees.
Nordstrom has had some difficulties competing against cheaper production stores such as H&M and Zara. The company will be cutting 400 headquarter jobs.
Aeropostale has seen a revenue change of negative 11.9 percent causing them to shut down 175 stores. However, they did just receive a life line credit for $160 million.
Sports Authority, is not on the downfall, it is done. The company filed for bankruptcy last year and is currently liquidating all of their inventory in order to make up for their financial loss.