Iconic retail store might get last-minute rescue
It’s a Hail Mary attempt that may just work.
Consumers have been forced to make tough spending choices in the wake of rampant inflation and high interest rates. And given that there doesn't seem to be a light at the end of the tunnel in either regard, retailers could be in for another year of sluggish sales.
The Trump administration's tariff policies might make the problem worse. In recent weeks a number of retail CEOs have sounded the alarm on cost increases. And if sales fail to pick up, 2025 could end up being a record-setting year for store closures.
