When Macy’s, K-Mart, Sears stores close, what are the ripple effects?
The holiday decorations have barely been taken down when a harsh verdict was passed on the holiday shopping season.
Macy's announced it's closing 68 stores. Here in Michigan, that means Macy's stores in Lansing, Battle Creek, Harper Woods, and Westland.
Then we learned Sears is closing 150 of its Kmart and Sears stores, with 10 of them based in Michigan, including the very first Kmart located in Garden City.
And Walmart says it's cutting hundreds of jobs by month's end. The affected workers are at its headquarters and regional personnel that support its stores, mainly in HR.
It seems like tough times for brick and mortar retailers.
Patricia Huddleston is a professor of retailing at Michigan State University, and she joined Stateside to talk about what these moves mean for consumers and the retail shopping industry.
Listen to the full interview above to hear more about how our shopping habits are evolving and what the future holds for department stores.