Retail store closures

What happened: John Lewis announced the closure of in-store services like gift wrapping and foreign exchange, putting 200 jobs at risk. A 95-year-old supermarket chain closed stores in key markets, and a women's fashion retailer shut down 170 stores. Meanwhile, a national mall footwear giant closed 82 stores, and a global fashion retailer is closing all its stores after 33 years. A former retail giant has closed over 1,000 locations.

Market impact: These closures indicate a shift in consumer behavior, with brick-and-mortar stores struggling against e-commerce and inflation-driven cost increases. The retail sector, particularly department stores and fashion retailers, is affected, with job losses and reduced consumer options in local markets.

What to watch next: Keep an eye on Q2 earnings from major retailers like Macy's (July 13) and Nordstrom (August 24) for insights into their brick-and-mortar strategies. Also, watch the U.S. retail sales data (July 14) for signs of consumer spending trends.